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UNITED STATES OF AMERICA STATE OF MINNESOTA COUl~TY OF RAlVEEY VILLAGE OF ROSEVILLE TEHPORARY IMPROVEMENT BOND SERIES 3 No. $ KNOW ALL MEN BY THESE PRESENTS that the Village of Roseville, a duly organized and existing municipal corporation of the County of Ramsey, State of Minnesota, acknowledges itself to be indebted and for value received promises to pay to its Improvement Bond Sinking Fund, for the use and benefit of the holders of bonds of the Village payable from said fund, or, if transfer of ownership of the principal amount of this bond has been registered in the manner described be- low, to the registered owner hereof, the sum of THOUSAND DOLLARS with interest on said principal sum at the rate of four and eighty hundredths per cent (4.80%) per annum, on December l5, 1968J or on an earlier date on which this bond has been duly called for redemption as stated below. Both principal and inter- est are payable at the office of the Village Treasurer, in Roseville, Ninnesota, in any coin or currency of the United States of America which on the payment date is legal tender for public and private debts. For the prompt and full payment of such principal and interest when due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged. This bond is one of a series in the aggregate principal amount of $l,050,000, all of like date and tenor except as to serial number and denomination} all issued for the purpose of defraying expenses incurred and to be incurred in con- structing necessary local improvements heretofore duly ordered to be made in accord- ance with the provisions of Minnesota Statutes, Chapter 429, 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 Series 3 Temporary Improvement Bond Fund of said Village, to which fund there have been appropriated the special assessments and taxes to be levied with re- spect to the improvements financed by this series of bonds, after payment of all ex- penses of said improvements, and into which fund there are to be paid the proceeds of definitive improvement bonds which the Village is required by law to issue at or prior to the maturity of this bond for the purpose of providing funds to pay the principal hereof and interest hereon to the extent that the special assessments and taxes theretofore collected are not sufficient for the payment thereof. This bond is subject to redemption and prepayment at the option of the Village at sx:y ti~, in whole but not in part, at par plus accrued interest. In the event of reg~strat~on of transfer of ownership of this bond as provided below the Village will mail notice of the call of the bond for redemption to the regist~red owner thereof, not less than ten days before the date specified for redemption. -3-