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<br />Please insert social security or other <br />identifying number of assignee <br /> <br />PROVISIONS AS TO REGISTRATION <br /> <br />The ownership of the principal of and interest on the within Bond has been registered on <br />the books of the Registrar in the name of the person last noted below. <br /> <br />Date of Rellistration <br /> <br />Registered Owner <br /> <br />Signature of <br />Officer of Registrar <br /> <br />Cede & Co. <br />Federal ID #1342555119 <br /> <br />3.02. The City Finance Director-Clerk is directed to obtain a copy of the proposed <br />approving legal opinion of Kennedy & Graven, Chartered, Minneapolis, Minnesota, which is to <br />be complete except as to dating thereof and to cause the opinion to be printed on or accompany <br />each Bond. <br /> <br />Section 4. <br /> <br />Payment: Security: Pledges and Covenants. <br /> <br />4.01. The Bonds are payable from the General Obligation Tax Increment Bonds, Series <br />1997C Debt Service Fund (Debt Service Fund) hereby created, and all tax increments (Tax <br />Increments) from the Tax Increment Financing Districts (Districts) in which the project financed <br />by the Bonds is located received by the City described in Section 1.01 are pledged to the Debt <br />Service Fund. If a payment of principal or interest on the Bonds becomes due when there is not <br />sufficient money in the Debt Service Fund to pay the same, the City Finance Director4Clerk is <br />directed to pay such principal or interest from the general fund of the City, and the general fund <br />will be reimbursed for those advances out of the proceeds of Tax Increments when received. <br />There is appropriated to the Debt Service Fund (i) capitalized interest funded from Bond <br />proceeds, if any, (ii) any amount over the minimwn purchase price paid by the Purchaser, and <br />(iii) the accrued interest paid by the Purchaser upon closing and delivery of the Bonds. <br /> <br />4.02. It is determined that the estimated collection of Tax Increments for payment of <br />principal and interest on the Bonds will produce at least five percent in excess of the amount <br />needed to meet, when due, the principal and interest payments on the Bonds and that no tax levy <br />is needed at this time. <br />