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. . . . UNITED STATES OF AMERICA STME OF MINNFSOTA COUNl'Y OF RAM3EY VILLAGE OF ARDEN HILIS STREEn' D<lPROVEMENT BOND SERIES B No. ! $1,000 KNOW ALL MEN BY THESE PRlllENTS 'tha't 'the Village of Arden Hills, a duly organized lllWlicipal corporation of Ramsey County, Minnesota, acknowledges i'tself to be indeb'ted and for vaJ.ue received promises to ~ 'to bearer 'the sum of ONE THOUSAND DOLLARS on 'the ls't <iEv of August, 19---, or, it 'this bond is pre~le as s'ta:ted be- low, on a date prior 'there'to on which i't shaJ.1 have been duly called for redemption, and to pay interest thereon at 'the rtri;e of per cent ( i) per annum from the date hereof until paid or until 'this bond, if pre~ble, has been duly called for redemption, plus addi'tionaJ. interes't on said principal sum tri; the rtri;e of per cent ( %) per annum from ,19 to ,19 ; interest being ~able August 1, 1962, and semiannually therea.:t'ter on the ls't da;y of February and the 1st <iEv of August in each year, and interest to maturity being ~ble in accordance vi'th and upon presentation and surrender of the interes't coupons appurtenant hereto, consisting of one set of coupons representing interest from date of issue to maturi'ty at 'the basic ra'te appli- cable to 'this bond, and a separate set designated as "B" coupons, represen'ting inter- es't at 'the additional rate and for 'the limited period s'ttri;ed above. Both principal and interest are payable at , in , in any coin or currency of the United States of America which on 'the respective dates of pa;yment is legaJ. tender for private and public deb'ts. For the prompt and :f'u1l pa;yment of such principaJ. and interest as the same become due, the :f'u1l faith, credit and. taxing powers of 'the Village are hereby irrevocably pledged. This bond is one of a series in the aggregate principaJ. amount of $420,000, all of like date and tenor except as to serial mnnhers, interes't rate, maturity and. redemption privilege, issued for the purpose of defraying expenses incurred in the construction of improvements designated as S'treet Improvements No.3, No. 4 and No. 5 of the Village of Arden Hills, and is issued pursuant to and in full conformi'ty with resolutions duly adopted by the Village Council a.:t'ter hearing as required by 18.\1 and pursuant to and in :f'u1l conformity wi'th 'the Consti'tution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Chapter 429. This bond is payable pr:imarily from the Street Improvement Bond Sinking Fund of the Village, but the Council is required to ~ the principaJ. and interes't thereof out of any funds in the 'treasury in the event the moneys on hand in said fund are tri; any time insufi'i- cient to meet the ~nt of maturing principaJ. and. interest. Bonds of this series bearing serial numbers 1 through 240 (maturing in the years 1963 through 1968) are pa:yable at their respec'tive stated maturi'ty dates with- out option of prior ~nt, but those bearing seriaJ. numbers 241 through 420 (matur- ing in the years 1969 through 1972) are each subject to redemption and prepa;yment a't the option of the Village on August 1, 1966, and any interest pa;yment date 'therea.:t'ter, at par and accrued interest; provided tha't of the pre~able bonds at any time out- standing, those bearing the highest coupon rate will be prepaid first, in inverse order of their seriaJ. numbers. The Village will mail notice of the call of any of said bonds for redemption, not less than 'thirty <iEvs prior to the da'te specified for redemption, to the holder, if known, and to the bank at which principaJ. and in'terest are 'then ~able. Holders of preI>S<rable bonds desiring 'to receive such notice may register their names and addresses and the serial numbers of 'their bonds with 'the Village Treasurer. -5-