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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY VILLAGE OF ROSEVILLE WATER D1PROVEMENT BOND, SERIES 5 No. $ 5000 KNOW ALL MEN BY THESE PRESENTS that the Village of Rosevil1e, Ramsey County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of FIVB THOUSAND DOLLARS on the first day of April, 19 , or if this bond is pre payable as stated bel 0.1, or.. any date prior thereto on which it shall have been duly called for prer-aY:rL.ent, to pay interest thereon from the date hereof until said principal Slm. be paid at the rate of hundredths per cent ( 1o) per annum, or if this bond is prepayable, until it has been duly called for prepa;yment, and to pay additional interest on said principal sum at -the rate of per cent (1.80 1o) per annum, represented by separate ''E" coupons, from May 1 , 1966 to April 1, 1967. Interest is payable on October 1, 1966, and semiannually thereafter on the first day of April and the first day of October in each year, interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons hereto appurtenant. Bath principal ,and interest are . payable at The Northwestern Nat1.. Bank of Minneapo1J.s , in Minneapo1~fJ Minnesota ,in any coin or currency of the United States of America which on the respective dates of payment is legal tender for public and private debts. For the prompt and full paytr.ent of such principal and interest as the same became due, the full faith~ credit and taxing powers of the Villagt a:<,e hereby irrevocably pledged. This bond is one of a series in the aggregate principal amount of $2,950,000, all of like date and tenor except as to serial number, maturity date, interest rate and redemption privilege, all issued for the purpose of defraying expenses incurred in constructing necessary local water improvements heretofore duly ordered to be made in accordance with the provisions of Minnesota Statutes, Chapter 429, including payment of the Temporary Improvement Bonds, Series 1 issued to finance said improvements, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, and pursuant to resolutions duly adopted by the Village Council. This bond is payable primarily from the Water Improvement Bond Sinking Fund of the Village, but the Council is required by law to pay maturing principal and interest out of any funds in the treasury if moneys on hand in said Sinking Fund are insufficient therefor. Bonds of this issue maturing in the years 1967 through 1975 are payable on their respective stated maturity dates without option of prior payment; but bonds having stated maturity dates which occur in the years 1976 through 1984 are each subject to redemption and prepayment at the option of the Village in inverse order of serial numbers on April 1, 1971, and any interest payment date thereafter, at par and accrued interest plus a premium of 2% of par if redeemed on or before October 1, 1975, or at par and accrued interest without premium if redeemed on or after April 1, 1976. All prepayments will be made upon notice of call mailed, thirty days in advance of the date specified for redemption, to the bank at which principal and interest are then payable and to the holder, if known, of each bond to be so redeemed. Holders of prepayable bonds who wish to receive such notice may register their names, addresses and bond numbers with the Village Treasurer.