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No. R— <br />(Form of Bond) <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF HENNEPIN <br />CITY OF ORONC <br />GENERAL OBLIGATION <br />WATER AND SEWER REVENUE BOND, SERIES 1989 <br />Interest <br />Rate _ Maturity Q&jft_S2E Original Issue QUIP <br />September 16, 1989 <br />REGISTERED OWNER: <br />PRINCIPAL AMOUNT: <br />The City of Orono in the :'hate of Minnesota, for <br />value received, hereby certifies that it is indebted and hereby <br />promises to pay to the registered owner specified above or <br />registered assigns, the principal sum specified above, on the <br />maturity date specified above, upon the presentation and <br />surrender hereof, and to rav to the ro;fistered owner hereof <br />interest on such principal sum at the interest rats specified <br />above from Sep',-imber 16, 1989, of the most recent interest <br />payment date to which interest ha: been paid or duly provided <br />for as speciffiee, below, on Februar, 1 and August 1 of each <br />year, commencing August 1, 1990, until said principal sum is <br />paid. principal and the redemption price is payable in lawful <br />money of the United States of. America at the office of <br />_ in Minneapolis, Minnesota as Registrar and <br />Paying Agent, o: at the offices of scch successor agents as the <br />City may designate upon 60 66ys' noti7e to the registered <br />owners at their registered addresses, interest shall be paid <br />on each February 1 and Aug+ist 1 interest ;payment date by check <br />c c draft mailed to the pe,.son in whose namt, this Bond is <br />registered at the close of business on the 15th day of the <br />month next preceding eacK interest payment date (whether or not <br />a ousiness day) at the registered owner's sddress set forth on <br />the registration books maintained by the Bond Registrar. Any <br />such interest not punc':ually paid or provided for will cease to <br />be payable to the person in whose name this Bond is req;--tered <br />on such regular record do*eG and such defaulted interest may be <br />paid to the person in wl-use name this Bond shall be registered <br />at the close of business on a special record date for the <br />payment of such defaulted interest established by the Bond <br />Registrar. <br />