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<br />Section 3. Form of Bond. <br /> <br />3.01. The Bonds will be printed in substantially the following form: <br /> <br />[Face of the Bond] <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 I991B <br /> <br />Rate <br /> <br />Maturity <br /> <br />Date of <br />Original Issue <br /> <br />CUSIP <br /> <br />August 1, 1991 <br /> <br />No. <br /> <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 <br />indebted and for value received hereby promises to pay to <br /> <br />or registered assigns, the principal sum of $ on the maturity date <br />specified above with interest thereon from the date hereof at the annual rate <br />specified above, payable August 1 and February 1 in each year, commencing <br />February 1, 1992, to the person in whose name this Bond is registered at the <br />close of business on the fifteenth day (whether or not a business day) of the <br />immediately _preceding month. The interest hereon and, upon presentation and <br />surrender hereof, the principal hereof are payable in lawful money of the United <br />States of America by check or draft by <br />Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating <br />Agent, or its designated successor under the Resolution described herein. For <br />the prompt and full payment of such principal and interest as the same respec- <br />tively become due, the full faith and credit and taxing powers of the City have <br />been and are hereby irrevocably pledged. <br /> <br />The City may elect on February 1, 1997, and on any interest payment date <br />thereafter, to prepay Bonds of this issue maturing on or after February 1, 1998. <br />Redemption may be in whole or in part of the Bonds subject to prepayment. If <br />redemption is in part, those Bonds remaining unpaid which have the latest <br />maturity date will be prepaid first. If only part of the Bonds having a common <br />maturity date are called for prepayment the specific Bonds to be prepaid will be <br />chosen by lot by the Registrar. All prepayments shall be at a price of par plus <br />accrued interest. <br /> <br />L <br />