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year. Both pr3ncj.yall and intereat sha11 be payable at ���,� �t,�,pq=�
<br />BsAk oi iilAt latll , in it. Aanl� y
<br />and the Village hereby agreea to pay the reas�able and customary charges o said
<br />paybng agent for the receipt and disbursement thereof.
<br />6. Said improvement bonds and the coupoas appertaining thereto sha11 be
<br />in substantially the following form:
<br />UNlTED STATES OF AMERICA
<br />STATE OF MINNESOTA
<br />COUPITY OF RAMSEY
<br />•
<br />VILLAGE OF ARDEN ffiLI3
<br />3MiITARY SEWER IMPROV�T �ND
<br />BERIFS E
<br />No.
<br />� 1�00Q
<br />I�tOW ALL MEN BY TFIESE PR�ENT3 that the Village of Arden Hi].ls, a cluly
<br />organized municipel corporation of Ramsey County, Minnesota, acknowledges itself to
<br />be indebted and for velue received promises to pay to bearer the sum of {'� THOUSAND
<br />DOLLARS on the lst day of October, 19 , or, if this bond is prepayable as stated
<br />below, on a date grior thereto on which it shall have been duly called for redemption,
<br />and to pay interest thereon at the rate of per cent
<br />( `�) per annum from the date hereof until psid or until this bond, if prepayable,
<br />hea been duly called for redemption, plus additional interest on said principal s�
<br />at the rate oY per cent ( a..� per annwn, fr� �, Y ,
<br />19 63t� i1CL. 1 , 1�{. 3aid interest is payable October 1, 1964, and semi-
<br />annually thereafter on April 1 and October 1 in each year, interest to maturity be-
<br />ing paya6le in accordance with and upon presentation and surrender of the interest
<br />coupona appurtenant hereto, consisting of one set of coupons representing interest
<br />from date of issue to maturity at the beaic rate stated above, and a separate set
<br />designeted as "B" coupone, representing interest at the add.itional rate and for the
<br />limited period stated above. Both principel and interest are payable at ��A�
<br />11at�to�esl � o! �tit�tt Pa�11 � in it. PiY2 9
<br />�p�p�, n any oin or currency of the United States oP America which on the
<br />reapective dates of payment is lege,l tender for private and public debts. For the
<br />prompt and flxll payment of such principal snd interest as the same becmne due, the
<br />full faith, credit and taxing powers of the Village are hereby irrevocably pledged.
<br />This bond is one of a series in the aggregate principal amount of $93,000,
<br />all of like date and tenor except as to serisl number, interest rate, maturity and
<br />redemption privilege, issued ior the purpose of defraying expenaes incurred and to
<br />be incurred in the construction of 3mprovements designated as "Sanitary Sewer Im-
<br />provement No. 5" and "Sanitary Sewer Improvement Pio. 6" oi the Villa�e of Arden Hills,
<br />and ie issued pureuant to and in flxll conformity with resalutions duly adopted by the
<br />Villege Council after hearinga as required by law and pursuant to and in Pull conform-
<br />ity with the Conatitution and laws of the State of Minnesota thereunto enabling, in-
<br />cluding Minnesota Statutea, Chapter 429. This bond ia payable primarily fre�n the
<br />Banitary Sewer Improvement Bond Sinkiqg F1�nd of the Village, but the Council is re-
<br />quired to pey tha principal and interest thereoP out of any funds in the treasusy in
<br />the event tha.t the moneys on hand in said fUnd are at any time insuf'ficient to meet
<br />the payment oP ma,turing principal and intereat.
<br />� Bonde of this issue maturing in 1974 through 1983 are each subject to re-
<br />demption and prepayment at the option of the Villege on Oetober 1, 1968, and any
<br />interest payment date thereafter, at a price of par and accrued interest plus a
<br />premium of 2� of the per value of each bond prepsid on or before April 1, 1973, and
<br />without premiwn if prepaid on or after Octpber l, 1973; provided that of the prepay-
<br />able bonds at any time outstsnding, those bearing the highest coupon rate xill be
<br />prepaid first, in inverse arder of their serial nwubere. The Village will mail
<br />natice of the call of any of said bonds for redemption, not lesa than thirty days
<br />prior to the date specified for redemption, to the holder, iP Imrnrn, and to the be,nk
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