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L <br />•JUN. 25. 1999 8:40AM EHLERS i ASSOC.';0.4700 c f. <br />UNITED STATES OF AMERJiCA <br />STATE OF MINNESOTA <br />COUNTY OF HENNEPIN <br />CITY OF ORONO <br />No. <br />GENERAL OBLIGATION <br />IMPROVEMENT BOND, SERIES 1999 <br />Interest Rate Maturity Date of Original Issue <br />July 1,1999 <br />CUSIP <br />Registered Owner: <br />Principal Amount: <br />The City of Orono, Hennepin County, Minnesota, for value received, hereby <br />promises to pay to the Registered Owner specified above, or registered assigns, the Principal <br />Amount specified above on the maturity date specified above, upon the presentation ^d <br />surrender hereof, and to pay to the Registered Owner hereof interest on such Pnncipal <br />Amount at the Interest Rate specified above from July 1,1999, or the most recent interest <br />payment date to which interest has been paid or duly provided for as specified below, on <br />February 1 and August 1 of each year, commencing Fcbmary 1,2000, until sa.d principal <br />amount is paid. Principal is payable in lawful money of the United States of A^en« at the <br />office of Firstar Bank of Minnesota, N.A., in Minneapolis, Minnesota, ^ Bond Regis.rar or <br />of its successor as Bond Registrar designated by the City upon 60 (toys' <br />registered owners at their registered addresses. Interest shall be paid on each February 1 and <br />August 1 interest payment date by check or draft mailed to the person in whose name *is <br />Bond is registered at the close of business on the 15th day of the month preceding each <br />interest payment date (whether or not a business day) at said person’s address set lorth on me <br />registrar books maintained by the Bond Registrar, .^y such interest not <br />or provided for will cease to be payable to the owner of record as of suiih regular record dates <br />and such defaulted interest may be paid to the person in w'hose name this Bond ^ <br />registered at the close of business on a special record date for the payment of such defaulted <br />interest established by the Bond Registrar. <br />The Bonds of this scries maturing on or after February 1,2009, arc subject to <br />bank where me Bonds are payable and to the registered owners in the manner pro\ ided by <br />-5-