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Please insert social security or other identifying number of assignee PROVISIONS AS TO REGISTRATION The ownership of the principal of and interest on the within Bond has been registered on the books of the Registrar in the name of the person last noted below. Date of Registration Registered Owner Signature of City Manae:er Cede & Co. Federal ID #13-2555119 3.02. The City Manager is directed to obtain a copy of the proposed approving · legal opinion of Kennedy & Graven, Chartered, Minneapolis~ Minnesota, which is to be complete except as to dating thereof and to cause the opinion to be printed on or accompany each Bond, together with a certificate to be signed by the facsimile signature of the City Manager in substantially the form set forth in the form of Bond. The City Manager is authorized and directed to execute the certificate in the name of the City upon receipt of the opinion and to file the opinion in the City offices. Section 4. Payment; Security; Pledg:es and Covenants. 4.01. (a) The Bonds are payable from the Improvement Bonds, Series 22 Debt Service Fund (Debt Service Fund) hereby created, and the proceeds of general taxes hereinafter levied (Taxes), and special assessments (Assessments) levied or to be levied for the improvements described in the resolution authorizing the sale of the Bonds (Improvements) financed by tbe Bonds are hereby pledged to the Debt Service Fund. If a payment of principal or interest on the Bonds becomes due when there is not sufficient money in the Debt Service Fund to pay the same, the Finance Director is directed to pay such principal or interest from the general fund of the City, and the general fund will be reimbursed for the advances out of the proceeds of Assessments and Taxes when collected. There is appropriated to the Debt Service Fund (1) capitalized interest financed from Bond proceeds, if any, (ii) any amount over the minimum purchase price paid by the Purchaser, and (ill) the accrued interest paid by the Purchaser upon closing and delivery of the Bonds. (b) The proceeds of the Bonds, less the appropriations made in paragraph (a) , together with any other funds appropriated for the Improvements and Assessments and Taxes collected during the oonstruction of the Improvements will be deposited in a separate construction fund (which may contain separate acco~ts for each Improvement) to be used solely to defray expenses of the Improvements and the payment of principal and interest on the Bonds prior to tbe completion and DJ1tl03226 RS2oo-16