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' • RESOLUTION #3151 . � (Certificate as to Legal Opinion) • I, the undersigned, City Clerk of the City of Orono, Minnesota, hereby certify that except for the date line, the foregoing is a full, true and compared copy of the legal opinion of Faegre & Benson, of Minneapolis, Minnesota which was delivered to me upon delivery of the bonds and is now on file in my office. , (Facsimile Signature) City Clerk _-` 4. The Bonds shall be payable upon presentation at thE maiTl of f ice Of American National Bank and Trust Company , in st. Pau1 , as Registrar and Paying Agent, or at the offices of such other successor agents as the City may hereafter designate upon 60 days' mailed notice to the registered owners at their registered addresses. Interest shall be paid by check or draft of the Registrar mailed to the registered owners at their addresses shown on the registration books on each interest _ payment date unless other arrangements satisfactory to the Bond Registrar the City and the registered owners of Bonds are made. The City shall deposit funds with the Bond Registrar at the time and in the manner necessary to provide for the full and prompt payment of such principal and interest. • 5. The Bonds shall be prepared in typewritten or printed form under the direction of the City Clerk and when so prepared shall be executed on behalf of the City by the facsimile signature of the Mayor and by the facsimile signature of the City Clerk. The Bonds shall not be valid for any purpose until authenticated by the Bond Registrar. The Bond Registrar is authorized and directed to register the Bonds initially issued hereunder in such names as the purchaser may direct. The Bonds initially issued hereunder shall be registered as of August 1, 1992, and all Bonds issued in exchange therefor shall ,be � registered as of such date, or, if issued after the first payment date, as of the most recent interest payment date on which � interest was paid or duly provided for. The legal opinion of Faegre & I3enson of Minneapolis, Minnesota, respecting the validity and enforceability of the Bonds. shall be reproduced on the reverse side of each Bond at the request of the purchaser and shall be certified by the facsimile signature of the City Clerk. Wheri the Bonds shall have been so prepared ancl executed, they shall be delivered by the City Clerk or Finance Director in exchange for the purchase price and upon receipt of the signed legal opinion of Faegre & Benson, as Bond Counsel, and the purchaser shall not be required to see to the proper application � of the proceeds. � 6. As long as any of the Bonds issued hereunder shall remain .outstanding, the City shall maintain and keep at the • -8-