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.. . UNITED STATES OF Al"~ICA STATE OF MINNESOTA COUNTY OF RAMSEY VILLAGE OF ARDEN HILLS IMPROVEMENT BOND; SERIES 1 ria. $5,000 KNOW ALL MEN BY THESE PRESENTS that the Village of Arden Hills, P~sey County, Minnesota, acknowledges itself to be indebted and for value received pro- mises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the 1st day of November, 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 interest thereon at the rate of per cent ( %) per annum, from the date hereof until the principal sum is paid, or, if this bond is prepayable, until it has been duly called for redemption, payable on May 1, 1971, and se~iannually thereafter on November 1 and May 1 of each year, interest to ma- turity being represented by and payable in accordallce with and upon presentation and surrender of the interest coupons appurtenant hereto. Both principal and in- terest are payable at the AmeJ: ican National BanK & Trust Company , in St. Paul, Minnesota, in any coin or currency of the United States of America which on the respective dates of payment is legal tender for public and private debts. For the prompt and full payment of said principal and interest 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 1971 through 1980 are payable on their respective maturity dates without option of prior payment. Bonds having stated maturity dates in the years 1981 through 1988 are each subject to redemption and prepayment at the option of the Village in inverse order of serial numbers on November 1, 1975, and any interest payment date thereafter, at 102% of par plus accrued interest if prepaid on or before May 1, 1980, and at par plus accrued in- terest if prepaid after May 1, 1980. 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, but published notice shall be effective without mailing. 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 Village Hall. This bond is one of an issue in the aggregate principal amount of $1,200,000, all of like date and tenor except as to serial number, interest rate, maturity date and redemption privilege, issued for the purpose of paying the cost of necessary public improvements of special benefit to properties within the Vil- lage, including the retirement of temporary improvement bonds issued to finance such cost, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Chapter 429 and 475. This bond is payable primarily from the Improvement Bond Sink- ing Fund of the Village, but the Council is required by law to pay maturing princi- pal thereof and interest thereon out of any funds in the treasury if moneys on hand in said special fund are insufficient therefor.