02-19-1964 VCM - Laserfiche WebLink

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5. The bonds and interest coupons to be issued here- under shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF'MINNESOTA COUNTY OF SHERBURNE VILLAGE OF ELK RIVER GENERAL OBLIGATION REFUNDING IMPROVEMENT BOND OF 1964 No. $ KNOW ALL MEN BY THESE PRESENTS, that the Village of Elk River, Sherburne County, Minnesota, certifies that it is in- debted and for value received promises to pay to bearer the sum of ONE THOUSAND DOLLARS on the fifteenth day of February, 19 , and to pay interest thereon from the date hereof until the principal is paid at the rate of. per cent ( %) per annum, said interest being payable February 15, 1965 and semi-annually thereafter o~ the fifteenth day of August and the fifteenth day of February of each year, plus additional interest rep~esented by a separate set of interest coupons at the rate of . per cent ( %) per annum, from to , payable in accordance with and upon presentation and surrender of the interest coupons hereto attached which are in two sets, one representing interest from the date hereof to maturity at the rate of per cent ( %) per annum and the other representing additional interest at the rate of per cent ( %) per annum for the period to Both principal and interest are payable at , in any coin or currency of the United States of America, which on the date of payment ~s legal tender for public and private debts. All bonds maturing in the years 1970 to 1978, both inclu- sive, (numbered 76 to 213, both inclusive), are subject to redemption and prior payment at the option of the Village in inverse order of their serial numbers on February 15, 1969 and on any interest payment date thereafter at par and accrued interest plus a premium of $20.00 if called before February 15, 1974 and at a premium of $10.00 if called on or after February 15, 1974. At least thirty days prior notice of re- demption shall in each case be given to the bank where said -4-