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<br />3.04. Execution.. AuthtiJnticati()n and Delivery. The Bonds shan be prepared <br />under the direction of the Clerk-Administrator and shall be executed on behalf of the <br />City by the manual signatures of the Mayor and the Clerk-Administrator. In case any <br />officer whose signature shall appear on the Bonds shall cease to be such officer before <br />the delivery of the Bonds, such signature shall nevertheless be valid and sufficient for <br />an purposes, the same as if the officer had remained in office untU delivery. When the <br />Bonds have been so prepared and exeeuted the Clerk-Administrator shall deliver the <br />same to the Purchaser thereof upon payment of the purchase price and the Purchaser <br />shall not be obligated to see to the application of the purchase price. <br /> <br />Section 4. Form of Bond. <br /> <br />4.01. The Bonds shall be printed or typewritten in substantially the following <br />form: <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br />CITY OF CENTERVILLE <br /> <br />GENERAL OBLIGATION IMPROVEMENT BOND, SERIES 1990B <br /> <br />96 <br />- <br /> <br />Maturity Date <br />January 1, 19 <br /> <br />Original Issue Date <br />, 1990 <br /> <br />$ <br /> <br />No. R-l <br /> <br />Rate <br />- <br /> <br />The City of Centerville, Minnesota, a duly organized and existing municipal <br />corporation in Anoka County, Minnesota (City), acknowledges itself to be indebted <br />and for value received hereby promises to pay to <br />of , Minnesota, or registered assigns, the principal sum specified <br />above on the Maturity Date specified above, with interest thereon from the date <br />hereof at the aMual rate specified above, payable January 1 and July 1 in each year, <br />commencing July 1, 1991. For the prompt and full payment of such principal and <br />interest as the same respectively become due, the full faith and credit and taxing <br />powers of the City have been and are hereby irrevoeably pledged. <br /> <br />The City may elect on July 1, 1993, and on any interest payment date thereafter <br />to prepay bonds maturing in 1994 and thereafter in whole or in part at a price of par <br />plus aeerued interest to date of prepayment. If prepayment is in part, those <br />installments having the latest maturity date will be prepaid first. Notice of <br />prepayment wlll be mailed to the registered owners as provided in the Resolution. <br />described herein. <br /> <br />~ <br />~ <br />