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. UNITED STATES OF. AMERICA STATE OF MINNESOTA COU}jTY OF RAMSEY VILLAGE OF ARDEN HILLS IMPROVEMENT BOND, SERIES 2 No. $5,000 KNOW ALL MEN BY THESE PRESENTS that the Village of Arden Hills, Ramsey County, Minnesota, acknowledges itself to be in- debted and for value received promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the 1st day of January, 19 ,or, if this bond is prepayable as stated below, on any date prior thereto on which it shall have been duly called for redemption, and to pay interest thereon at the rate of per cent ( %) per annum, from the date hereof until the princi- pal sum is paid, or, if this bond is prepayable, until it has been duly called for redemption, payable on July 1, 1972, and semiannu- ally thereafter on January 1 and July 1 of each year, interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons appurte- nant hereto. Both principal and interest are payable at the "-rican Rational ..ok .. 'l'rUIIt.~"IP""ny , in St.. paul , Minnesota, or at the office of such successor paying agent as may be designated by the Village Council under the provi- sions of the resolution authorizing the issuance hereof, in any coin or currency of the United States of America which on the re- spective dates of payment is legal tender for public and private debts. For the prompt and full payment of said principal and in- terest as the same respectively become due, the full faith, credit and unlimited taxing powers of said Village have been and are hereby irrevocably pledged. Bonds of this issue maturing in the years 1973 through 1980 are payable on their respective maturity dates without option of prior payment. Bonds'having stated maturity dates in the years 1981 through 1992 are each subject to redemption and prepayment at the option of the Village in inverse order of serial numbers on January 1, 1980, and any interest payment date thereafter, at par plus accrued interest to the redemption date. Not less than thirty days before the date specified for such redemption the Village will cause notice of the call of any bond to be published in a financial newspaper published in a Minnesota city of the first class or its metropolitan area, and to be mailed to the holder of this bond, if known to the Village Treasurer, and to the bank at which principal and interest are then payable, but published notice shall be effec- tive without mailing. Any holder desiring to receive such notice may record his name and address and the serial number of his bond ... with the Village Treasurer at the Village Hall. -4-