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(Form of Bond) <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF HENNEPIN <br />CITY OF ORONO <br />No. R $ <br />GENERAL OBLIGATION <br />WATER AND SEWER REVENUE BOND, SERIES 1989 <br />Interest <br />_gate Maturity Date of Original Issue CUSI_^ <br />September 16, 1989 <br />REGISTERED OWNER: <br />PRINCIPAL AMOUNT: <br />The city of 0,uno in Lhe `:*.awe of Minnesota, for <br />value received, hereby certifies th?t it is indebted and hereby <br />promises to pay to the registered own,sr specified above oz <br />registered assigns the principal sum specified above, on the: <br />maturity date specified above, upon th, presentation and <br />surrender hereof, and to pay to the registered owner hereof <br />interest on such principal sum at the interest rate specified <br />above from September 16, 1989, or the most recent interest <br />payment date to which interest has :ten paid or duly provided <br />for as specified below, on February 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, or at the offices of suc;. successor agents as the <br />City may designate upon 60 days' notice to the registered <br />owners at their registered addresses. Interest shall be paid <br />on each February 1 and August 1 interest payment date by check <br />or draft mailed to the person in whose name this Bond is <br />registered at the close of business on the 15th day of the <br />month next preceding each interest payment date (whether o: not <br />a business day) at the registered owner's address set forth on <br />the registration books maintained by the Bond Registrar Any <br />such interest not punctually paid or provided for will cease to <br />be payable to the person in whose name this Bond is registered <br />on such regular record dates and such defaulted interest may be <br />paid to the person in whose 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 />-5- <br />