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<br />hereof and interest hereon are payable from special assessments against property <br />specially benefited by local improvements, and ad valorem taxes for the city's share <br />of the cost of the improvements as set forth in the Resolution to which reference is <br />made for a full statement of rights and powers thereby conferred. The full faith and <br />credit of the City are irrevocably pledged for payment of this Bond and the City <br />Council has obligated itself to levy additional ad valorem taxes on all taxable <br />property in the City in the event of any deficiency in special assessments and taxes <br />pledged, which taxes may be levied without limitation as to rate or amount. The <br />Bonds of this series are issued only as fully registered Bonds in denominations of <br />$5,000 or any integral multiple thereof of single maturities. <br /> <br />As provided in the Resolution and subject to certain limitations set forth <br />therein, this Bond is transferable upon the books of the City at the principal office <br />of the Bond Registrar, by the registered owner hereof in person or by the owner's <br />attorney duly authorized in writing upon surrender hereof together with a written <br />instrument of transfer satisfactory to the Bond Registrar, duly executed by the <br />registered owner or the owner's attorney; and may also be surrendered in exchange <br />for Bonds of other authorized denominations. Upon such transfer or exchange the <br />City will cause a new Bond or Bonds to be issued in the name of the transferee or <br />registered owner, of the same aggregate principal amount, bearing interest at the <br />same rate and maturing on the same date, subject to reimbursement for any tax, fee <br />or governmental charge required to be paid with respect to such transfer or <br />exchange. <br /> <br />The City and the Bond Registrar may deem and treat the person in whose name <br />this Bond is registered as the absolute owner hereof, whether this Bond is overdue <br />or not, for the purpose of receiving payment and for all other purposes, and neither <br />the City nor the Bond Registrar will be affected by any notice to the contrary. <br /> <br />IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all <br />acts, conditions and things required by the Constitution and laws of the State of <br />Minnesota, to be done, to exist, to happen and to be performed preliminary to and <br />in the issuance of this Bond in order to make it a valid and binding general obligation <br />of the City in accordance with its terms, have been done, do exist, have happened <br />and have been performed as so required, and that the issuance of this Bond does not <br />cause the indebtedness of the City to exceed any constitutional or statutory <br />limitation of indebtedness. <br /> <br />(Form of certificate to be printed on the reverse side of each Bond if Bonds <br />are printed, following a full copy of the legal opinion. ) <br /> <br />I certify that the above is a full, true and correct copy of the legal opinion <br />rendered by bond counsel on the issue of Bonds of the City of Roseville, Minnesota, <br />which includes the within Bond, dated as of the date of delivery of and payment for <br />the Bonds. <br /> <br />(Facsimile Signature) <br />City Manager <br /> <br />RLD47466 <br />RS200-10 <br /> <br />8 <br />