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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY VILLAGE OF ROSEVILLE WATER IMPROVEMENT BOND SERIES 2 No. $ KNOW ALL MEN BY THESE PRESENTS that the Village of Roseville, a duly organ- ized municipal corporation of Ramsey County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of THOUSAND DOLLARS on the 1st day of March, 19 , or, if this bond is prepayable as stated be- low, on a date prior thereto on which it shall have been duly called for redemption, and to pay interest thereon at the rate of per cent ( %) per annum from the date hereof until paid or until this bond, if prepayable, has been duly called for redemption, and at the additional rate of per cent ( %) per annum from , 19 to , 19 ; the interest being payable March 1, 1964, and semi- annually thereafter on September 1 and March 1 in each year, and interest to matur- ity being payable in accordance with and upon presentation and surrender of the in- terest coupons appurtenant hereto, consisting of one set representing interest to maturity at the basic rate applicable to this bond, and a separate set of "B" coupone representing interest at the additional rate and for the limited period stated above. Both principal and interest are payable at ,in ,in any coin or currency of the United States of America which on the respective dates of payment is public tender for private and public debts. For the prompt and full payment of such prinCipal and interest as the same become 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 $1,250,000, all of like date and tenor except as to serial number, interest rate, maturity and redemption privilege, and all issued by the Village for the purpose of defraying expenses incurred and to be incurred in the construction of Water Improve- ment No. 62-1 of the Village of Roseville, pursuant to and in full conformity with resolutions duly adopted by the Village Council and with the provisions of the Con- stitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Chapters 429 and 475. This bond is payable primarily from the Water Im- provement Bond Sinking Fund of the Village, but the Council is required to pay the principal and interest thereof out of any funds in the treasury in the event that the moneys on hand in said fund are at any time insufficient to meet the payment of maturing principal and interest. Bonds of this series maturing in the years 1964 through 1973 are not sub- ject to redemption before maturity, but those maturing in the years 1974 through 1984 are each subject to redemption and prepayment at the option of the Village on March 1, 1973, and any interest payment date thereafter, at a price of par plus -5-