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IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things <br /> required by the Constitution and laws of the State of Minnesota to be done,to happen and to be <br /> performed,precedent to and in the issuance of this Certificate, have been done,have happened <br /> and have been performed, in regular and due form,time and manner as required by law and that <br /> this Certificate,together with all other debts of the Issuer outstanding on the date of original <br /> issue hereof and the date of its issuance and delivery to the original purchaser, does not exceed <br /> any constitutional or statutory limitation of indebtedness. <br /> IN WITNESS WHEREOF,the City of Pequot Lakes, Crow Wing County, Minnesota,by <br /> its City Council has caused this Certificate to be executed on its behalf by the manual signatures <br /> of its Mayor and its Administrator/Clerk,the corporate seal of the Issuer having been <br /> intentionally omitted as permitted by law. <br /> Date of Registration: CITY OF PEQUOT LAKES, <br /> CROW WING COUNTY, MINNESOTA <br /> February 15, 2017 <br /> REGISTRABLE BY AND PAYABLE <br /> AT: By <br /> City Administrator/Clerk Its Mayor <br /> City of Pequot Lakes,Minnesota <br /> By <br /> Its Administrator/Clerk <br /> 5 <br /> 8126692v1 <br />