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No. <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />SHERBURNE COUNTY <br />VILLAGE OF ELK RIVER <br />IMPROVEMENT <br />BOND OF 1971 <br />$ <br />KNOW ALL MEN BY THESE PRESENTS that the Village of <br />Elk River, Sherburne County, Minnesota, certifies that it is <br />indebted and for value received promises to pay to bearer, <br />without option of prepayment, the sum of <br />THOUSAND DOLLARS <br />on the first day of December, 19 and to pay interest <br />thereon from the date hereof until the principal is paid <br />at the rate of <br />per cent ( %) per annum, payable on the first. day of <br />December, 1972 and semiannually thereafter on the first <br />day of June 1 and the first day of December 1 in each year, <br />in accordance with and upon presentation and surrender of <br />the interest coupons hereto attached, as the same severally <br />become due. Both principal and interest are payable at <br />in any coin or currency of the United States of America which <br />at the time of payment is legal tender for public and private <br />debts. <br />This bond is one of an issue in the total principal <br />amount of $79,000 all of like date and tenor, except as to <br />maturity, interest rate and denomination, which bond has <br />been issued pursuant to and in full conformity with the <br />Constitution and laws of the State of Minnesota for the <br />purpose of providing money for street, sewer and water <br />improvements, and is payable out of the Improvement Bonds <br />of 1971 Fund of the Village. This ,bond constitutes a <br />general obligation of the Village, and to provide moneys <br />for the prompt and full payment of said principal and <br />interest when the same become due, the full faith and <br />credit and taxing powers of said Village have been and <br />are hereby irrevocably pledged, <br />-4- <br />