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As provided -in the Resolution -and sub jecttorettain Urnitafionsset forththerein,:this Bond is transferable uponthe books of the City at the principal office of the.Purchaser, by the registered. owner hereof in person or'by the owner's attorney duly titrthorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Purchaser, .duly executed.by.tl,e.registered. owneror the ojvner's attorney;.and tray also.be surrendered in.exchange for Bonds ofother authorized denominations. Upon -such transfer or exchange the City will.cause.a.new, Bond or Bonds to.be issued. in the name -of the transferee or registered owner;,pf'the. seine aggregate amount, bearing.interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee 6f-`govem-mtmental charge required to be paid with respiect.tb such transfer or exchange. The City and.the Purchaser may deein and treat the petson`in whose. narne.this Bond is *registered as the absolute owner Hereof, whether this Bond is:overdue or not, for die purpose..of.receiving payment and for all other purposes, and neitherthe.:City nor the Bond .Registrar Will be affected by any notice'to the contrary. 17I IS IIER.EB Y CERTI FLED, RECITED, *COVENANTED AND AGREED.that all acts; eonditions.and. things required by the home rule charter of the Cityand the Constitution and laws of the State of Minnesota to be done, to exist, to happen. and to be performed preliminary to.and in the issuance of this Bond in order to make it a valid and. binding general. obligation of the City in accordance with its terms, have been done, do exist, have happened and have been .performed as so required, and that the. istivance of this Bond does not cause the indebtedness. of the City to exceedany constitutional. statutoryor,chatter limitation of indebtedness. This: Bond is not valid or obligatory for any purpose or entitled -to any security or benef it under the Resolution until, the Certificate of Authentication hereon has been executed by the Bond Registrar by manual signature of one of its authorized representatives. IN WITNESS WHEREOF, the CityofGem Lake, RamseyCounty, Minnesota, by its City Council, has caused thisSoitd to be executed.onits behalf bythe facsimile. or manual signatures Qf the. Mayor and City .Clerk and has caused this.Bond to be dated as of the date. set forth below. [)ated Novernber 3, 2004 CITY OF GEM.LAKE, MINNE,SOTA Facsitrrile Mayor Facsimile City Clerk