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Said bonds will be dated June 1, I 1962, and will bear interest at a rate or rates to be designated by the successful bidder in integral multiples of 1/4 or 1/10 of one percent per annum, payable June 1 i 1963, and semiannually thereafter on December 1 and June 1 of each year. The bonds will mature serially on June 1 in the following years and amounts: $30,000 1965-1974 35,000 1975-1984 Bonds maturing in the years 1979 through 1984 will each be subject to redemption and prepayment, at the option of the village on June 1, 1972 or any interest payment date thereafter 1 at par and accrued interest plus a premium of $20.00 for each bond redeemed on or prior to December 1, 1976 I or without premium if redeemed on or after June 1, 1977 Redemption of bonds prior to their stated maturities wUl be exercised in inverse order of serial numbers of the then outstanding prepayable bonds bearing the highest interest rate. Extra coupons are permissible provided said extra coupons are due on or before June 1, 1964 except no rate, including combination of rates, may exceed 6% per annuml and the total dollar amount of extra coupons may not exceed $13,000. All bonds maturing in anyone iyear shall bear the same rate of interest. The basic rate of interest payable on each bond of the issue must not exceed the basic rate of interest payable on other bonds of the same or subsequent maturities. Principal and interest will be made payable at any suitable bank or trust canpany in the United States designated by the successful bidder. The village will furnish the printed and executed bonds and the approving legal opinion of Messrso Dorsey, Owenl Marquart, Windhorst & West of Minneapolisl Minnesota, and Messrs. Peterson & Popovich of St. Paul, Minnesota without cost to the purchaser and within 30 days after the award of sale accompanied by the final papers of delivery including a certificate showing absence of litigation. A copy of the legal opinion will be printed on the reverse side of each bond. The bonds will be issued in denomination of $1/000 or $5,000 each as desired by the purchaser. The village must be notified of the paying agent and denomination desired within forty-eight (48) hours after the sale. Sealed bids marked "Bid for $650,000 Park Bonds" may be mailed or delivered to the undersigned and must be received prior to the time of said meeting and must be unconditionalo Oral auction bids will not be considered. Each bid must be accompanied by a cashier's check or a certified check in the amount of at least $13/0001 payable to the Village Treasurer, to be forfeited as liquidated damages in case the bid be accepted and the bidder shall fail to comply therewith. Bids will be preferred according to the lowest dollar amount of net interest cost and which is deemen mn<:::t- -F~"tTf"I,...~h' e::. M",,"h; rI .....-F 1 ,.,....... .....l-..,,~ -~~