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property in the City without limitation as to rate or amount. The bonds of <br />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 <br />forth therein, this Bond is transferable upon the books of the City at the <br />principal office of the Bond Registrar, by the registered owner hereof in <br />person or by his attorney duly authorized in writing upon surrender hereof <br />together with a written instrument of transfer satisfactory to the Bond <br />Registrar, duly executed by the registered owner or his attorney; and may <br />also be surrendered in exchange for Bonds of other authorized denomina- <br />tions. Upon such transfer or exchange the City will cause a new Bond or <br />Bonds to be issued in the name of the transferee or registered owner, of <br />the same aggregate principal amount, bearing interest at the same rate and <br />maturing on the same date, subject to reimbursement for any tax, fee or <br />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 <br />name this Bond is registered as the absolute owner hereof, whether this <br />Bond is overdue or not, for the purpose of receiving payment and for all <br />other purposes, and neither the City nor the Bond Registrar shall be <br />affected by any notice to the contrary. <br /> <br /> IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, <br />conditions and things required by the Constitution and laws of the State of <br />Minnesota and the City Charter, to be done, do exist, to happen and to be <br />performed preliminary to and in the issuance of this Bond in order to make <br />it a valid and binding general obligation of the City in accordance with <br />its terms, have been done, do exist have happened and have been performed <br />as so required, and that the issuance of this Bond does not cause the <br />indebtedness of the City to exceed any constitutional, statutory or charter <br />limitation of indebtedness. <br /> <br /> (Form of certificate to be printed on the reverse side of each Bond, <br />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 <br />opinion rendered by bond counsel on the issue of Bonds of the City of <br />Ramsey, Minnesota, which includes the within Bond, dated as of the date of <br />delivery of and payment for the Bonds. <br /> <br />(Facsimile Signature) <br /> <br />City Administrator-Clerk <br /> <br /> <br />