Agenda Packet Cc - regular meeting 9/11/1989

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ADDITIONAL PROVISIONS OF THIS BOND ARE SE7 FORTH ON THE REVERSE SIDE HEREOF WHICH ARE INCORPORATED HEREIN AS IF SET FORTH HERE. All Bonds maturing on or after February 1, 1997 are sub;ect to redemption and prior payment in whole or in part at the option of the City, in inverse order of maturity and by lot within a maturity, on February 1, 1996 and any interest payment date thereafter at par and accrued interest. Thirty days' prior notice will be given by mail to the registered owner hereof and published notice of redemption will be given in the manner provided by Minnesota Statutes, Chapter 475. This Bond is one of a series of Bonds in the aggregate principal amount of Two Million Three Hundred Thousand Dollars ($2,300,000), all of like date and tenor oxcept for number, maturity, interest rate, redemption privilege and denomination and is issued pursuart to and in full conformity with the Constitution and Laws of the State of Minnesota, including Section 444.075 and Chapter 475, Minnesota Statutes, for the purpose of providing funds for ;.;►e costs of constructing improvements to the Water and Sewer System of the City (the "Water and Sewer System"), as set forth and described in the resolution of the City Council relating to the issuance of the Bonds of this series adopted September 11, 1989 (the "Bond Resolution"). The principal of and interest on the Bonds of this series, are payable primarily from and are secured by a lien on and pledge of the net revenues of the Water and Sewer System, but the full faith and credit of the City is hereby pledged to toe prompt payment of the principal of and interest on the Bonds, and the City Council is obligated to levy ad valorem taxes on all taxable property in the City, if necessary for such purpose, without limitation as to rate or amount. Reference is hereby made to Section 444.075, Minnesota Statutes, and Chapter 475, Minnesota Statutes, and to the Bond Resolution for a description of the covenants of the City as to the application of the proceeds of the Bonds of this series and the moneys pledged to the payment of the Bonds and interest thereon. This Rond is transferable, as provided in the Bond Resolution, only upon books of the City kept at the offices of the Bond Registrar by the r(±uistered owner hereof in person or by his duly authorized attorney, upon surrender of this Bond for transfer at the office of the Frond Registrar, duly endorsed by, or accompanied by a written instrument- cf transfer in form satisfactory to the Bond Registrar duly executed by, the registered owner hereof or his 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 -6-