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<br />Bond are payable from ad valorem tax increments derived from <br />the City's Tax Increment District No. 4 which the City has <br />duly established within its Development District No. l, but <br />this Bond constitutes a general obligation of the City, and, <br />to provide moneys for the prompt and full payment of said <br />principal installments and interest as the same become due, <br />the full faith, credit and taxing powers of the City are <br />hereby irrevocably pledged, and the City Council is obli- <br />gated to levy ad valorem taxes, if required for such pur- <br />pose, which taxes may be levied on all of the taxable pro- <br />perty in the City without limitation as to rate or amount. <br /> <br />This Bond may be assigned but upon such assignment the <br />assignor shall promptly notify the City at the office of the <br />Cl erk-Treasurer by reg i s tered ma iI, and the ass ignee ~hall <br />surrender the same to the Clerk-Treasurer either in exchange <br />for a new fully registered bond or for transfer of this Bond <br />on the registration records. Each such assignee shall take <br />this Bond subject to this condition. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, con- <br />ditions, and things required by the Constitution and laws of <br />the State of Minnesota to be done, to have happened, and to <br />be performed precedent to and in the issuance of this Bond <br />have been done, have happened, and have been per formed in <br />regular and due form, time, and manner as required by law; <br />and that this Bond, together with all other indebtedness of <br />the City outstanding on the date hereof and on the date of <br />its actual issuance and delivery, does not cause the indebt- <br />edness of the City to exceed any constitutional or statutory <br />limitation thereon. <br /> <br />IN WITNESS WHEREOF, the City of New Brighton, Ramsey <br />County, Minnesota, by its City Council, has caused this Bond <br />to be executed by the manual signatures of its Mayor and <br />City Manager; has caused the official seal of the City to be <br />affixed to this Bond; and has caused this Bond to be dated <br />as of , 1982. <br /> <br /> <br />(l, ~ h-: -:fcr--...QQ ~//~./M 7~~ <br /> <br />c7(:i;n~a~Ure) ~turef' <br />City Manager Mayor <br /> <br />(SEAL) <br /> <br />- 6 - <br />