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<br />VILLAGE OF ELK RIVER, SHERBURNE COUNTY, MINNESOTA <br />$87,000 IMPROVEMENT BONDS OF 1973 <br />PURPOSE: WATERMAIN & STREET IMPROVEMENTS <br /> <br />e <br /> <br /> Cumulative <br /> Bond Bond <br />Due Principal ~ Years Years <br />12/1/73 $ 2,000 q1 2.0 2.0 <br />6/1/74 5,000 1.5 7.5 905 <br />6/1/75 5,000 2.5 12.5 22.0 <br />6/1/76 5,000 3.5 17.5 39.5 <br />6/1/77 5,000 4.5 22.5 62.0 <br />6/1/78 5,000 5.5 27.5 89.5 <br />6/1/79 5,000 6.5 32.5 122.0 <br />6/1/80 5,000 7.5 37.5 159.5 <br />6/1/81 5,000 8.5 42.5 202.0 <br />6/1/82 10,000 9.5 95.0 297.0 <br />6/1/83 5,000 10.5 52.5 349.5 <br />6/1/84 10,000 11.5 115.0 464.5 <br />6/1/85 5,000 12.5 62.5 527.0 <br />6/1/86 10,000 13.5 135.0 662.0 <br />6/1/87 5.000 14.5 72.5 734.5 <br />Totals $87,000 734.5 <br /> . e <br />DATED: December 1, 1972 <br />INTEREST PAYABLE: December 1, 1973 and semiannually thereafter on <br /> June 1st and December 1st of each year. <br />PRINCIPAL DUE: $2,000 on December 1, 1973 and thereafter on <br /> June 1st of each year. <br /> <br />REDEMPTION: At the option of the issuer, bonds maturing on or <br />..~. __..,.~.:..._ after ~une 1, 1982, shall be subject to prior <br />~ Q~yment, in inverse order of serial numbers, on <br />~June . 1, 1981, and any interest date thereafter, <br />at a price of par and accrued interest. <br /> <br />RATES: <br /> <br />All rates and combination of rates must be in integral <br />multiples of 1/20th of 1% and may not exceed 7% per <br />annum. Additional interest coupons may not be used. <br />No limitation is placed upon the number of rates which <br />may be used. <br /> <br />BID: <br /> <br />Sealed bids of not less than $85,695. Good faith cheek of <br />$1,740 must accompany bid. <br /> <br />e <br /> <br />-4- <br />