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. , UNITED STATES OF AMERICA 5TATE OF f.ilINNESOTA RAMSEY COUNTY CITY OF ARDEN HILLS . No. $5,000 GENERAL OBLIGATION IMPROVEf.'IENT BOND, SERIES 3 KNOW ALL MEN BY THESE PRESENTS that the City of Arden Hills, Ramsey County, Minnesota, certifies that it is indebted and for value received promises to pay to bearer the principal sum of FIVE THOUSAND DOLLARS on the first day of November, 19 and to pay interest thereon from the date hereof until the principal is paid at the rate of percent ( %) per annum, payable on the first day of November, 1978 and semiannually thereafter on the first day of May and the first day of November in each year, interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons hereto attached, as the same severally become due. Both principal and interest are payable at , or any successor paying agent duly appointed by the City, in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. . All bonds of this issue maturing in the years 1988 to 1997, both inclusive (bonds numbered 172 to ~53, both inclusive), are subject to redemption and prepayment at the option of the City in inverse order of serial numbers, on November l, 1987 and on any interest payment date thereafter at par and accrued interest. Published notice of redemption shall in each case be given in accordance with law, and mailed notice of redemption shall be given to the bank where said bonds are payable and to any registered holders, provided that published notice alone shall be effective without mailed notice. Holders desiring to receive mailed notice must register their names, addresses and bond numbers with the Clerk-Administrator. .-_1