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� Wi ITED STATES OF AtIERICA STATE OF ::IPINESOTA COUIt'TY OF RAISSEY VILLAGE OF F,RDEiJ HILLS TEI�IPORARY It•�ROVEl�ivT BOND SERILS 3 No. $ 5, 000 KNOW ALL PtEN BY THESE PF':ESE1dTS ti:at the Village of Arden Aills, a duly organized and existing municipal corporation of the County of Ransey, State of i•linnesota, acicnowledges itself to be indeuted and for value received promises to pay to bearer the sum of FIVE TAOUSADTD DOLLARS on the first day of January, 1973, or on an earlier date on which this bond shall have been duly called for redemption as stated below, and to pay interest thereor. at the rate of Six and Forty Hundredths per cent (6:'4�) per annum from the date hereof until said principal sum is paid or until this bond has been duly cailed for redemption, payable on July 1, 1970, and semiannually thereafter on January 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 coupons ap- purtenant hereto. BotU principal amd interest are payable at the American National Bank and Trust Company , in St. Paul , Minnesota , in any coin or currency of the United States of America which on the payment da[e 1s legal [ender for public and private debts. For the prompt and full payment of such principal and interest when due, the full faith and credit of the Village are hereby irrewcably pledged. This bond is one of a series in tiie ag�re�ate principal amount of $1,735,000, all of like date and tenor except as to serial number and denomination, all issued for the purpose of defrayin� expenses incurred and to be incurred in con- structing necessary local lmprovements heretofore duly ordered to be made in accord- ance taith the provisions of YLinnesota Statutes, Chapters 429 and 475, in full con- formity with the Const3tution and laws of the State of rlinnesota thereunto enabling, and pursuant to resolutions duly adopted by the Village Council. This bond is pay- able primarily from the Series 3 Temporary Improvement Bond Fund of said Village, to which fund there have been appropriated the special assessments and taxes to be levied with respect to [he improvements financed by this series of bonds, after pay- ment of all expenses of said improvements, and into which fund there are to be paid the proceeds of definitive improvement bonds which the V311age is required by la�� to issue at or prior to the maturity of this bond for the purpose of providing funds to pay the principal hereof and interes[ hereon to the exteat that the special assessments and taxes theretofore collected are not sufficient for the payment thereof. This bond is subject to redemption and prepayment a[ the option of the Village on ,Tanuary 1, 1972, and on any interest payment date thereafter, at par plus accrued interest. Not leas than thirty days before the date specified for such redemption the Village will cause notice of the call of this bond for redemp- tion to be published in a flnancial necaspaper pub2ished in a Piinnesota city of the firat class or its metropolitan area, and to be mailed to the holder of this bond, it known to the Village Treasurer, but published notice shall be effective without mailia�. Any holder desiring to receive such notice may record his name and addresa and the serial number of this bond with the V:llage Treasurer, at the Village Hall, 1450 West Highway No. 96, Arden Hills, l:inneaota. � -4-