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, 1 . > , This bond is one of an issue of general obligation bonds in the aggregate principal amount of $950,000, all of like date and tenor except as to maturity, interest rate and redemption privilege and issued by the City for the purpose of providing permanent financing for a portion of the City's waterworks system, including Improvement No. 75-2 consisting of an elevated storage tank, distribution water mains and appurtenances, pursuant to Section 444.075, Minnesota Statutes, and payable primarily from charges for the use and availability of sewer and water facilities of the City and for connections therewith, the net revenues from which charges the City has pledged to the payment of principal and interest of the bonds and similar obligations issued or to be issued by the City, within the meaning of such statute. IT IS HEREBY CERTIFIED AND RECITED That the City has covenanted and does hereby covenant to impose and collect charges of the nature authorized by said Section 444.075 at the times and in the amounts required to produce, together with pledged special assessments and taxes, net revenues adequate to pay all such principal and interest when due; that the City has by ordinance established rates and charges estimated to be sufficient to pro- duce such net revenues; that all acts, conditions and things required by the Constitution and Laws of the State of Minnesot'a to be done, to happen and to be performed precedent to and in the issuance of this bond have been done, have happened and have been performed in regular and due form, time and manner as required by law; and that this bond, together with all other indebtedness outstanding, does not exceed any constitutional or statutory limitation of indebtedness. IN WITNESS WHEREOF, the City _of New Brighton, Ramsey County, Minnesota, by its City Council, has caused this bond to be executed by the Mayor and City Manager, one by manual and one by facsimile signature, and a facsimile of the corporate seal of the City to be printed hereon, and the interest coupons hereto attached to be executed and authenticated by the facsimile signa- tures of said officers, all as of February 1, 1978. Mayor City Manager (Seal) (Form of Coupon) No. S [Unless the bond described below has been called for earlier redemp- tion] On the first day of August (February), 19 , the City of New Brighton, Ramsey County, Minnesota, will pay to bearer at in , Minnesota, the amount shown hereon for interest then due on its General Obligation Water Revenue Bond of 1978, dated February 1, 1978, No. . Mayor City Manager -3-