Resolution - #89-11-322 - 11/28/1989

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Resolutio~ ~t) which reference is made for a full statement of rights and powers thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of this Bond and the City Council has obligated itself to levy additional ad valorem taxes on all taxable property in the City in the event of any deficiency of tax increments pledged, which taxes may be levied without limitation as to rate c>r amount. The Bonds of this series are issued only as fully registered Bonds in denominations oI' $5,(}00 or any integral multiple thereof of single maturities. As providcx_t in the Resolution and subject to certain limitations set forth therein, this Bond is transferable Ul'~Or~ the books of the City at the principal office of the Bond Registrar, by the registered owner imreof in person or by the owner's attorney duly authorized in writing upon surrender hot eof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or the owner's attorney; and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange the City will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate and maturing on the same date, subjec~ t{) reimbursement for any tax, fee or governmental charge required to be paid with respect to such u'm~sfi~r or exchange. The C~ty ami the Bond Registrar may deem and treat the person in whose name this Bond is registered a,,; the absolute owner hereof, whether this Bond is overdue or not, for the purpose of receiving paymen'i and for all other purposes, and neither the City nor the Bond Registrar will be affected by ~my re)rice to the contrary. IT IS i-tEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that ail acts, conditions arid things required by the Constitution and laws of the State of Minnesota and the City's home rule charter to be done, to exist, to happen and to be performed preliminary to and in the issuance (ff thi:~; Bond in order to make it a valid and binding general obligation of the City in accordance with its terms, have been done, do exist, have happened and have been performed as so required~ and that the issuance of this Bond does not cause the indebtedness of the City to exceed any conrqtit~ ~tiomtl, statutory or charter limitation of indebtedness. (Form o1' ce~ iifica.te to be printed on the reverse side of each Bond, following a full copy of the legal opini~ ~/.) 1 certify that the above is a full, true and correct copy of the legal opinion rendered by bond counsel or~ thc issues of Bonds of the City of Ramsey, Minnesota, which includes the within Bond, dated a:.; (}[ ti~c date of delivery of and payment for the Bonds. (Facsimile Signature) City Administrator The foll,~wing abbreviations, when used in the inscription on the face of this Bond, shall be construed as l:[lO~lg[i they were written out in full according to applicable laws or regulations: TEN COM --- [~S ix~tlatlts iB Ct)llllnoll UNIF GIFT MIN ACT CUSTODIAN (Cust) (Minor)