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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />! <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />LEFEVERE, LEFLER, KENNEDY, O'BRIEN & DRAWZ <br /> <br />$$65,000 General Obligation <br /> Improvement Bonds of 1982 <br />City of Ramsey, Minnesota <br />Page Two <br /> <br /> We further certify that we have examined the form of bond <br />prepared for the Bonds and find the same to be in due form of law, <br />and in our opinion: the Bonds are valid and binding general <br />obligations of the City payable primarily from special assessments <br />levied or to be levied for various assessable public improvements <br />in the CJ. ty; the full faith and credit of the City is pledged for <br />the payment of the Bonds, and the City Council has obligated itself <br />to levy additional ad valorem taxes in event of any deficiency, ' <br />which taxes may be levied upon all taxable property in the City <br />without ]_imitation as to rate or amount; and the interest on the <br />Bonds is not includable in the gross income of the recipient for <br />purposes of United States income tax or the State of Minnesota income <br />tax (other than Minnesota corporate franchise taxes measured by <br />income) according to present federal and Minnesota laws, regulations, <br />rulings and decisions. <br /> <br /> Dated at Minneapolis, Minnesota, August 16, 1982. <br /> <br /> <br />