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<br />Authentication. This Bond shall not be valid or <br />become obligatory for any purpose or be entitled to any <br />security unless the Certificate of Authentication hereon shall <br />have been executed by the Bond Registrar. <br /> <br />Qualified Tax-Exempt Obligations. The Bonds have <br />been designated by the Issuer as "qualified tax-exempt <br />obligations" for purposes of Section 265(b) (3) of the federal <br />Internal Revenue Code of 1986, as amended. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, <br />conditions and things required by the Constitution and laws of <br />the State of Minnesota to be done, to happen and to be <br />performed, precedent to and in the issuance of this Bond, have <br />been done, have happened and have been performed, in regular <br />and due form, time and manner as required by law, and this <br />Bond, together with all other debts of the Issuer outstanding <br />on the date of original issue hereof and on the date of its <br />issuance and delivery to the original purchaser, does not <br />exceed any constitutional or statutory limitation of <br />indebtedness. <br /> <br />l6 <br />