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at par and accrued interest. In the event of redemption by lot <br />of Bonds of like maturity, the Bond Registrar shall assign to <br />each Bond of such maturity then outstanding a distinctive number <br />for each $5,000 of the principal amount of such Bonds and shall <br />select by lot in the manner it determines the order of numbers, <br />at $5,000 for each number, for all outstanding Bonds of like <br />maturity. The order of selection of Bonds to be redeemed shall <br />be the Bonds to which were assigned numbers so selected, but only <br />so much of the principal amount of each Bond of a denomination of <br />more than $5,000 shall be redeemed as shall equal $5,000 for each <br />number assigned to it and so selected. The Bonds shall be <br />numbered from R-1 upwards in order of issuance or in such other <br />order as the Registrar may determine and shall be in the <br />denomination of $5,000 each or any integral multiple thereof not <br />exceeding the amount maturing in any year. <br />3. The Bonds, the Registrar's Authentication Certifi- <br />cate, the form of assignment and the City Clerk's Certificate on <br />the reverse side thereof shall be in substantially the followng <br />form: <br />No. R- <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF HENNEPIN <br />CITY OF ORONO <br />GENERAL OBLIGATION <br />IMPROVEMENT BOND OF 1985 <br />Rate Maturity Date of Original Issue CUSIP <br />July 1, 1985 <br />The City of Orono, Hennepin County, Minnesota, for <br />value received, hereby promises to pay to <br />or registered assigns, the <br />principal sum of dollars <br />($ ) on the maturity date specified above, without <br />option of prior payment, upon the presentation: and surrender <br />hereof, and to pay to the registered owner hereof interest on <br />such principal sum at the interest rate specified above from <br />July 1, 1985, or the most recent interest payment date to which <br />interest has been Paid or duly provided for ds specified below, <br />on January 1 and July 1 of each year, commencing January 1, 1986, <br />until said principal sum is paid. Principal is payable in lawful <br />money of the United States of America at the office of , <br />as Bond Registrar or of its successor as Bond <br />Registrar designated by the City upon 60 days notice to the <br />registered owners at their registered addresses. Interest shall <br />-3- <br />