06-23-1997 Council Packet - Laserfiche WebLink

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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF HENNEPIN CITY OF ORONO No.$ GENERAL OBLIGATION IMPROVEMENT BOND, SERIES 1997 Interest Rate Maturity Date of Original Issue July 1, 1997 CUSIP Registered Owner: Principal Amount: The City of Orono, Hennepin County, Minnesota, for value received, hereby promises to pay to the Registered Owner specified above, or registered assigns, 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 Amount at the Interest Rate specified above from July 1, 1997, or the most recent interest payment date to which interest has been paid or duly provided for as specified below, on February 1 and August 1 of each year, commencing February 1, 1997, until said principal amount is paid. Principal is payable in lav^ul money of the United States of America at the office of Firstar Bank of Minnesota, N.A., in Minneapolis, 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 each Februaiy 1 and August 1 interest payment date by check or draft mailed to the person in whose name this Bond is registered at the close of business on the 15th day of the month preceding each interest payment date (whether or not a business day) at said person’s address set forth on the registration books maintained by the Bond Registrar. Any such interest not punctually paid or provided for will cease to be payable to the owner of record as of such regular record dates and such defaulted interest may be paid to the person in whose name this Bond shall be registered at the close of business on a special record date for the payment of such defaulted interest established by the Bond Registrar. The Bonds of this series maturing on or after February 1, 2006, are subject to redemption at the option of the City, in whole or in part in such order as the City may determine and by lot within a maturity, on February 1,2005 and any date thereafter at par and accrued interest. Thirty days’ notice of prior redemption will be given by mail to the bank where the Bonds are payable and to the registered owners in the manner provided by Chapter -5-