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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />ON REVERSE OF BOND <br /> <br />I hereby certify that the foregoing is a full, true, and <br />correct copy of the legal opinion executed by the above-named <br />attorneys, except as to the dating thereof, which opinion has been <br />handed to me for filing in my office prior to the time of delivery <br />of the Bonds. <br /> <br />(facsimile sianaturel <br />City Clerk-Treasurer <br />City of Elk River, Minnesota <br /> <br />Issuance; PurDose; General Obliaation. This Bond is one of an <br />issue in the total principal amount of $ , all of like <br />date of original issue and tenor, except as to registration number, <br />maturity, interest rate and denomination, which Bonds have been <br />issued pursuant to and in full conformity with the Constitution and <br />laws of the State of Minnesota, including Minnesota Statutes, <br />Section 475.67, Subdivision 13, and pursuant to a resolution <br />adopted by the City Council, the governing body of the City, on <br />April 5, 1993 (the "Resolution"), for the primary purpose of <br />providing moneys, together with other available funds of the City, <br />sufficient (1) to prepay on February 1, 1994, those bonds of the <br />City's General Obligation Tax Increment Bonds, Series 1985A, dated <br />September 1, 1985, which mature on February 1, 1995, and thereafter <br />and (2) to prepay on February 1, 1994, those bonds of the City'S <br />General Obligation Tax Increment Bonds, Series 1985B, dated <br />September 1, 1985, which mature on February 1, 1995, and <br />thereafter. This Bond constitutes a general obligation of the <br />City, and to provide moneys for the prompt and full paYment of the <br />principal of and interest on all of the Bonds, when the same become <br />due, the full faith and credit and taxing powers of the City have <br />been and are hereby irrevocably pledged. <br /> <br />Denominations; Exchanae; Resolution. The Bonds are issuable <br />solely as fully registered bonds in the denominations of $5,000 and <br />integral multiples thereof of a single maturity and are <br />exchangeable for fully registered Bonds of other authorized <br />denominations of.$5,000 and integral multiples thereof of a single <br />maturity and are exchangeable for fully registered Bonds of other <br />authorized denominations in equal aggregate principal amounts at <br />the principal office of the Bond Registrar, but only in the manner <br />and subject to the limitations provided in the Resolution. <br />Reference is hereby made to the Resolution for a description of the <br />rights and duties of the Bond Registrar. Copies of the Resolution <br />are on file in the principal office of the Bond Registrar. <br /> <br />235883 <br /> <br />8 <br />