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. UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY VILLAGE OF ARDEN HILLS . TEMPORARY IMPROVEMENT BOlID SERIES 2 No. $5,000 . KNOW ALL MEN BY THESE PRESENTS that the Vil.lage of Arden HUls, a duly organized and existing municipal corporation of the County of Ramsey, State of Minne- sota., acknowledges itself to be indebted and for value received promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the first day of January, 1971, or on an earHer date an which this bond shall have been duly called for redemption as stated below, and to pay interest thereon at the rate of Four and l'o:r1:y amdr.d~ per cent". 40 %) per annum from the date hereof until said principal sum is paid or until this bond has been duly called for redemption, payable an July I, 1969, and semiannually thereafter on Janu- ary 1 and July 1 in each year, such interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest cou- pons appurtenant hereto. Both principal and interest are payable at The 1'1r.1: ..1:10na1 Bank of Saint Paul , in 11:, Paul, JUnn..ot.a , in any coin or currency of the Uhited States of America which on the payment date is legal tender for pubHc and private debts. For the prompt and full payment of such principal and interest when due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged. This bond is one of a series in the aggregate principal amount of $575,000, all of like date and tenor except as to serial number and denomination, all issued for the purpose of defraying expenses incurred and to be incurred in constructing a necessary local improvement heretofore duly ordered to be made in accordance with the provisions of Minnesota Statutes, Chapter 429 in full conform! ty with the Con- stitution and laws of the State of Minnesota thereunto enabling, and pursuant to resolutions duly adopted by the Village Council. This bond is payable primarily from the Series 2 Temporary Improvement Bond Fund of said Village, to which fund there have been appropriated the special assessments and ta.xes to be levied with re- spect to the improvement financed by this series of bonds, after payment of all ex- penses of said improvement, and into which tund there are to be paid the proceeds of definitive improvement bonds which the Village is required by law to issue at or prior to the maturity of this bond for the purpose of providing funds to pay the principal hereof and interest hereon to the extent that the special assessments and taxes theretofore collected are not sufficient for the payment thereof. . This bond is subject to redemption and prepa.yment at the option of the Village on January 1, 1970, and on any interest pa.yment date thereafter, at par plus accrued interest. Not less than thirty days before the date specified for such re- demption the Village will cause notice of the call of this bond for redemption to be pubHshed 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, but pub1ished notice shall be effective without mai1ing. Any holder desiring to receive such notice may record his name and address and the serial number of this bond with the Village Treasurer, at the Vil.1age Hall, 1450 West Highway No. 96, Arden Hills, Minnesota -4- ._.