2005-03-23 CC Packet - Laserfiche WebLink

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EXHIBIT A UNITED STATES OF AMERICA STATE OF MINNESOTA ANOKA COUNTY CITY OF CENTERVILLE $ GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BOND, SERIES 2005A The City of Centerville, Anoka County, Minnesota (the "City"), certifies that it is indebted and for value received promises to pay to the City of Circle Pines, Minnesota, or assigns duIy certified on the Certificate of Registration attached to and made a part of this Bond (the "Owner"), in the manner hereinafter set forth, the $ principal amount of this Bond in the principal installments due on February 1 of the years and in the amounts, respectively, as follows, with each such principal installment bearing interest until paid in the amounts as follows: Principal MonthlDavlY ear Installment Interest Pavment MonthlDavlY ear Principal Installment Interest Pavment Interest shall be payable semiannually on February I and August 1 of each year, commencing February I, 2006, and shall be calcuIated on the basis of a 360 day year consisting of twelve 30 day months. At the time of final payment of all principal of and interest on this Bond, the Owner shall surrender this Bond to the City Finance Director at the City Hall, in Centerville, Minnesota. Notwithstanding anything to the contrary herein, the City's proportionate share of any amount transferred from the Construction Account to the Debt Service Account (as such terms are defmed in the Issuer Bond Resolution, defmed hereinafter) upon completion of the Project shall be applied as a credit against the principal or interest payment or payments due on this Bond after such transfer. The term "proportionate share" means the original principal amount of this Bond as a share of the original principal amount of the Issuer Bond. Manner of Pavment. The principal of and interest on this Bond are payable when due by check or draft mailed or otherwise delivered by or on behalf of the City Finance Director to the Owner hereof as of the end of the fifteenth (15th) day of the month, whether or not a business day (the "Record Date"), immediately preceding the applicable payment due date; provided that if the City shall be in defauIt in payment of interest due on said date, whenever money becomes available for payment of such defaulted interest, the City Finance Director shall establish a special Record Date with respect to the payment thereof and shall mail written notice of the special Record Date not less than fifteen (I 5) days prior to such date to the person that was the Owner of the Bond as of the close of business ofthe City on the fifth (5th) business day of the 1738630v2 A-I