02-24-2003 Council Packet - Laserfiche WebLink

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Registered Owner: Anchor Bank, N.A. Principal Amount: Seventy-five Thousand Dollars The City of Orono, Hennepin County, Minnesota, for value received, hereby promises to pay to the Registered Owner specified above, or registered assigns, without option of prior payment, the Principal Amount specified above on the Maturity Date specified above, upon the presentation and surrender hereof, and to pay to the Registered Owner hereof interest on such principal sum at the interest rate specified above from March 17,2003 from the date hereof or the most recent interest payment date to which interest was provided to the date of maturity. Principal is payable in lawful money of the United States of America at the office of the Orono Finance Director, in Orono, Minnesota, as Bond Registrar or of its successor as Bond Registrar designated by the City upon 60 days’ notice to the registered owners at their registered addresses. Interest shall be paid on September 17,2003 and at maturity on March 17,2004 by check or draft mailed to the registered owners. This Certificate constitutes an issue of Certificates in the aggregate principal amount of $75,000, issued pursuant to and in full conformity with the Constitution and Laws of the State of Minne.sota, including Section 412.301 and Chapter 475, Minnesota Statutes, for the purpose of providing funds for purchasing certain equipment. This Certificate constitutes a general obligation of the City and to provide moneys for the prompt and full payment of said principal and interest as the same become due the full faith and credit of the City is hereby irrevocably pledged, and the City will levy ad valorem ta.xes, if required for such purpose, without limitation as to rate or amount. This Certificate is transferable, as provided by the Resolution of the City Council authorizing the issuance of the Certificates of this series adopted February 24,2003 (the “Bond Resolution”) only upon books of the City kept at the oftlce of the Bond Registrar by the registered owner hereof in person or by the owner’s duly authorized attorney, upon surrender of this Certificate for transfer at the office of the Bond Registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Bond Registrar duly executed by, the registered owner hereof or the owner’s duly authorized attorney, and, upon payment of any tax, fee or other governmental charge required to be paid with respect to such transfer, one or more fully registered Certificates of the series of the same principal amount, maturity and interest rate will be issued to the designated transferee or transferees. IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to happen and to be