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<br />the certificate of Authentication hereon shall have been executed <br />by the Bond Registrar. <br /> <br />Not Qualified Tax-Exempt obligations. The Bonds have <br />not 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 performed, <br />precedent to and in the issuance of this Bond, have been done, <br />have happened and have been performed, in regular and due form, <br />time and manner as required by law, and this Bond, together with <br />all other debts of the Issuer outstanding on the date of original <br />issue hereof and on the date of its issuance and delivery to the <br />original purchaser, does not exceed any constitutional or <br />statutory limitation of indebtedness. <br /> <br />26957 <br /> <br />17 <br />