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<br />effective interest rate of the issue may exceed the maximum <br />rate allowed by law on the date of sale. <br /> <br />Paying Agent/Bond Registrar <br /> <br />The City will select the Paying Agent/Bond Registrar for <br />the Bonds and will pay the customary charges for such ser- <br />vices. The Paying Agent/Bond Registrar will be S.E.C. <br />registered. <br /> <br />CUSIP Numbers <br /> <br />The City will assume no obligation for the assignment or <br />printing of CUSIP numbers on the bonds or for the correct- <br />ness of any numbers printed thereon but will permit such <br />numbers to be assigned and printed at the expense of the <br />purchaser, provided the purchaser waives any extension of <br />the time of delivery caused thereby. <br /> <br />Delivery <br /> <br />Wi thin 40 days after sale, the City will furnish and <br />deliver to the office of the purchaser Qr, at its option, <br />will deposit with a bank in the United States selected by <br />the purchaser and approved by the Ci ty as the purchaser I s <br />agent to examine and take delivery of the bonds, the printed <br />and executed bonds, the unqualified legal opinion thereon of <br />O'Connor & Hannan, bond counsel, and a certificate stating <br />that no litigation in any manner questioning the validity of <br />the bonds is then threatened or pending. The charge of the <br />delivery agent must be paid by the purchaser, but all other <br />costs will be paid by the City. The purchase price must be <br />paid upon delivery of the bonds, or within five days after <br />deposit of the bonds with the delivery agent, in funds <br />available for expenditure by the City on the day of payment. <br /> <br />Legal Opinion <br /> <br />An unqualified legal opinion on the bonds will be fur- <br />nished by O'Connor & Hannan, of MinneapOlis, Minnesota. The <br />legal opinion will be printed on the bonds at the request of <br />the purchaser and will state that the bonds are valid and <br />binding general obligations of the City, payable primarily <br />from special assessments levied or to be levied against <br />benefited property, and that, if required for such purpose, <br />the City is obligated to levy ad valorem taxes for the pay- <br />ment of principal of and interest on the bonds as the same <br />become due without limit as to rate or amount. <br /> <br />- 4 - <br />