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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY VILLAGE OF ROSEVILLE TEMPORARY IMPROVEMENT BOND SERIES 1 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 bearer the sum of DOLLARS on the 1st day of May, 1966, or on November 1, 1965, if this bond is then called for redemption as stated below) and to pay interest thereon at the rate of three and ten hundredths per cent (3.10%) per annum from the date hereof until said principal sum is paid or until this bond has been duly called for redemption} payable November 1, 1964} and semiannually thereafter on May 1 and November 1 in each year, such interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons appurtenant hereto. Both principal and interest are payable at The First National Bank of Saint Paul, in St. Paul, 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 payment of such principal and interest as the same respectively became 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 $3,265,000, 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 water improvements heretofore duly ordered to be made in accordance with the provisions of Minnesota Statutes, Chapter 429, in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, and pur- suant to resolutions duly adopted by the Village Council. This bond is payable pri- marily from the Series 1 Temporary Improvement Bond Fund of said Village, to which fund there have been appropriated the special assessments and taxes to be levied with respect to the improvements financed by this series of bonds, after payment of all expenses of said improvements, and into which fund there are to be paid the pro- ceeds 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 refunding the same so far as special assessments and taxes theretofore collected are not sufficient for the payment thereof. The bonds of this series are each subject to redemption and prepayment at the option of the Village on November 1, 1965, at par and accrued interest and in inverse order of their serial numbers. Not less than thirty days prior to said date the Village will mail notice of the call of any of said bonds for redemption to the holders, if known, and to the bank at which principal and interest are then payable. Bondholders desiring to receive such notice may register their names and addresses and the serial numbers of their bonds with the Village Treasurer. -4-