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<br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />RAMSEY COUNTY <br />CITY OF ROSEVILLE <br /> <br />R- <br /> <br />$ <br /> <br />GENERAL OBLIGATION IMPROVEMENT <br />BOND, SERIES 18 <br /> <br />INTEREST <br />RATE <br /> <br />MATURITY <br />DATE <br /> <br />DATE OF <br />ORIGINAL ISSUE <br /> <br />CUSIP <br /> <br />MARCH 1, <br /> <br />FEBRUARY 1, 1992 <br /> <br />REGISTERED OWNER: KRAY & CO. <br /> <br />PRINCIPAL AMOUNT: DOLLARS <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS that the City of <br />Roseville, Ramsey County, Minnesota (the "Issuer" or "city"), <br />certifies that it is indebted and for value received promises to <br />pay to the registered owner specified above or on the certificate <br />of registration below, or registered assigns, in the manner <br />hereinafter set forth, the principal amount specified above, on <br />the maturity date specified above, unless called for earlier <br />redemption, and to pay interest thereon semiannually on March 1 <br />al1d September 1 of each year (each, an "Interest PaYment Date"), <br />commencing September 1, 1992, at the rate per annum specified <br />above (calculated on the basis of a 360-day year of twelve 30-day <br />months) until the principal sum is paid or has been provided for. <br />This Bond will bear interest from the most recent Interest <br />PaYment Date to which interest has been paid or, if no interest <br />has been paid, from the date of original issue hereof. The <br />principal of and premium, if any, on this Bond are payable by <br />check or draft in next day funds or its equivalent (or by wire <br />transfer in immediately available funds if payment in such form <br />is necessary to meet the timing requirements below) upon <br />presentation and surrender hereof at the principal office of the <br />Finance Director of the Issuer in Roseville, Minnesota (the "Bond <br />Registrar"), acting as paying agent, or any successor paying <br />agent duly appointed by the Issuer; provided, however, that upon <br />a partial redemption of this Bond which results in the stated <br />amount hereof being reduced, the Holder may in its discretion be <br /> <br />26250 <br /> <br />11 <br />