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<br />[aav.ra. of the Bond]
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<br />Tbia Iou ia on. of an iana ill the aaregat. principal aMUIlt of
<br />$615,000, all of like original iaau. data and tenor, exc.pt .. to number,
<br />1Uturity date, r.dempt1on privileg. ancl interest rate, 18sued purnallt: to ..
<br />r-.lIOlution a40pted by the City CouncU OIl Jun. 24, 1987 (th. llasoludon),
<br />fot- the purpo.. of pt'OYidiDg 1IGIl.y to defray the exp.ne.. 1Dcurr.danct to
<br />'be: ucurrecl in .akinl local 1mprovaMllt., pur8U&llt to and ill full c:odoZlli-
<br />cywLtk tlae CODatitut:1oll anct ~ of the Stat& of M:1IlIaesota, :I.1aa1ucl1las
<br />Ifi...ota: Statut... Chapter 42', _4 thepr1Dc1.pa1 har.oL _d tatenet:
<br />1aenoD. are payabl. Priaarl.lT froe special ........nt. asaiDat: ,coparty'
<br />.,.1,..U,., b...fitacl therebT., .. ..t forth ill the a..Olut:101l co' wh1ca
<br />nfennca :1a, .... fen: . fu11 atat_nC of riahu and powers: tbanllT COD-
<br />lured. ft. full faith and. cr.dit of the City :1a :1rrevocablT pledaacl fo~
<br />paJMIlt'; o~ tJl1.a,. Boa.cl.. aDd the City Counc:11 baa. old.1.pted Its.U to ~.
<br />taxa. OIl. all. of the taxable ,cop.rty ill. the City in the event: ~. DT
<br />ofteri... m. apaeiat .........t. pled..el" vhteh tau ..,. he r.fa4
<br />1d.thout; l1a:I.t:&t1oa .. to rat. or 81IOunt.. The BoIlcI. of th1a; .erDtF ce
<br />$a-.. ~ D. fullT 1"8li8ter.4 Bonds ill clencnd.nat:101l8 of $5,00el 01:' ..,
<br />t1lte~ _lt1ple thereof of dDale ueuut1...
<br />
<br />.. pn91.decf. :la ~ lesolut1oa and aub1ect'; to- carta:f.D; 1:I.Id.Qt::laIwI ..t';
<br />fRtlt t1nInia.. ~ BoIl4' :1a. traDaf.rabla uPOlt; the booD o~ the- Citr'.K t:II.
<br />~,.. of"ftc. of the Boncf Rea:fatrK'... b7r' the Da:tatereft OWIIC 1Iano~ fa
<br />~. or __the ~. -=OEn.,. dU)I' _tborin4i fa ~t:ma UP" --~
<br />...~ _..daflr wtea . WJ:1ttea fDat~ ~ tnDafar _d:af'acto~ ,tfD thr.
<br />.... ~.~.r... ~ aecue.l .,.. de na;f.at.... ~ or ttiar ~...
<br />at:ton.,., ancE. ..... atao It. ~ :la _m........ fOr B'oIrd. ore. oca.r
<br />_thalli A" cr..a.tutiODa.. lJpoD au. crauC.u: 01:' ftCmu,p the atlIF WII11i
<br />e.v.. . _ ... ~ BoIIda m lie faAecti _ the __ of the traa&ae crt
<br />mp."'" ~.. ~. th. ... ~ pdDd.p.r.: ....t:... hamac Idftuc
<br />at: tier __ nee aa4', -=r:I.Da. _ the ... elat.... ad.,t.a: to p1~.1..1:
<br />,.. ap t:D'", .. em- &09UDiu.tat. cbarp' aquire4 to:. be pfcf; 1dth.. nat_C t:D
<br />..... t:z~.. en: _clln...
<br />
<br />!Is. cttp ... the Bonet .~ ..,... d... act. ueac: tlaepUsoa.fa wIioa.
<br />.... CbJ.-. ......,.,ta h&1a~.C..t ..' ell.. ab.w.u~. 0WIUtC b.Esot,. ....cIleIr ~
<br />IOId t. ~ e: DOt:... for t:IIe pEpO.. or nca:l..V'iDa papat'; ... lbJ:' aU;
<br />.~ IIIr:po-..., act. BAther the ~tT DO~ U. BoIlCi' .&:f.aCr&2:' ...1'1'~ Ie
<br />af&cee.B ip .., 1Dt::1c:. 1>> the COD1:rBT..
<br />
<br />rt IS BDDt' C&tt!I!D,.. 1IC1'fla).. COVDWCDD AID AGIIEI) that: Itltn acta..
<br />cODdl~oDaaacl' thiDa. required. b~ the- CoUt1.tutiOD. ancl' lava of the State of
<br />IIf...oca., to' be doae~ to _:lat.. to happeD: &D4 to be p.rfomecl. t1'ef1'....zy..
<br />to., a.cl a Ce' :ta:.U8IlC8" of th:f.a; BOd m order to. __ it .. val:f.4 aacl.! Mud1~J:
<br />leaeral. obl:1pc:f.oll. of' the City' m accorclaDce with: ita terma" have '.aD:;
<br />dora.., do a:l.at:". have happen.d aDd have- ba8ll. performed .. .0' r.qui%e4,. and:
<br />tha1: the ia--.ce of th:1. Bond do.. not cause the indebt.dn..s, of the C1tT
<br />~,exceed allT con.C:1tut1cmal or 8Catutor)" U.:tt.t:1on of 1ftd.bt.dn.....
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