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DUPLICATE <br /> UNITED STATES OF AMERICA <br /> • <br /> 111 STATE OF MINNESOTA <br /> SHERBURNE COUNTY <br /> CITY OF ELK RIVER <br /> No. $5 ,000 • <br /> • <br /> GENERAL OBLIGATION IMPROVEMENT <br /> BOND OF 1979 <br /> KNOW ALL PERSONS BY THESE PRESENTS that the City of <br /> Elk River, Sherburne County, Minnesota, certifies that it is <br /> indebted and for value received promises to pay to bearer the <br /> principal sum of <br /> FIVE THOUSAND DOLLARS <br /> on the first day of February, 19 and to pay interest thereon <br /> from the date hereof until the p ncipal is paid at the rate of <br /> percent ( %) per <br /> annum, payable on the first day of August, 1980 and <br /> semiannually thereafter on the first day of February and the <br /> first day of August in each year, interest to maturity being <br /> represented by and payable in accordance with and upon <br /> • presentation and surrender of the interest coupons hereto <br /> attached, as the same severally become due. Both principal and <br /> interest are payable at <br /> , or any successor paying agent duly <br /> appointed by the City, in any coin or currency of the United <br /> States of America which at the time of payment is legal tender <br /> for public and private debts. <br /> All bonds of this issue maturing in the years 1991 to <br /> 1997, both inclusive (bonds numbered 49 to 76, both inclusive) , <br /> are subject to redemption and prepayment at the option of the <br /> City in inverse order of serial numbers, on February 1, 1990 <br /> and on any interest payment date thereafter at par and accrued <br /> interest. Published notice of redemption shall in each case be <br /> given in accordance with law, and mailed notice of redemption <br /> shall be given to the bank where said bonds are payable. <br /> This bond is one of an issue in the total principal <br /> amount of $380,000 all of like date and tenor, except as; to <br /> _ serial number, maturity, interest rate and redemption privi- <br /> - leye, which bond has been issued pursuant to and in full <br /> _conformity with the Constitution and laws of the State of <br /> Minnesota for the purpose of providing money for various <br /> • <br />