Laserfiche WebLink
Redemption. The Bonds are not subject to redemption <br />and prepayment prior to their respective stated maturity dates. <br /> <br /> Issuance; Purpose; General 0bliqation. This Bond is <br />one of an issue in the total principal amount of $500,000, all of <br />like date of original issue and tenor, except as to registration <br />number, 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 and pursuant to a <br />resolution adopted by the City Council on June 3, 1996 (the <br />"Resolution"), for the purpose of providing money to finance <br />certain costs of assessable public improvements within the City. <br />This Bond constitutes a general obligation of the City, and to <br />provide moneys for the prompt and full payment of its principal, <br />premium, if any, and interest when the same become due, the full <br />faith and credit and taxing powers of the City have been and are <br />hereby irrevocably pledged. Each capitalized term which is used <br />but not otherwise defined in this Bond shall have the meaning <br />given to that term in the Resolution. <br /> <br />[For Bonds in Book Entry Only Form, the following paragraph shall <br />be added, and this Bond form (1) may be rearranged so that the <br />signature blocks hereof appear at the end of the main text of <br />this form or (2) may otherwise be amended to conform to book <br />entry requirements and the Blanket Letter of Representations.] <br /> <br /> Book Entry Only Form; Blanket Letter of <br />Representations. Pursuant to the Resolution, the Bonds may be <br />issued in Book Entry Only Form, and during any period in which <br />Bonds are in such form, the provisions applicable to the Bonds <br />pursuant to the Blanket Letter of Representations shall apply, <br />notwithstanding any contrary or inconsistent provision herein or <br />in the Resolution. <br /> <br /> Denominations; Exchange; Resolution. The Bonds are <br />issuable solely as fully registered bonds in the denominations of <br />$5,000 and integral multiples thereof of a single maturity and <br />are exchangeable for fully registered bonds of other authorized <br />denominations in equal aggregate principal amounts at the <br />principal office of the Bond Registrar, but only in the manner <br />and subject to the limitations provided in the Resolution. <br />Reference is hereby made to the Resolution for a description of <br />the rights and duties of the Bond Registrar. Copies of the <br />Resolution are on file in the principal office of the Bond <br />Registrar. <br /> <br /> Transfer. This Bond is transferable by the Registered <br />Owner in person or by the Registered Owner's attorney duly <br />authorized in writing at the principal office of the Bond <br />Registrar upon presentation and surrender hereof to the Bond <br />Registrar, all subject to the terms and conditions provided in <br />the Resolution and to reasonable regulations of the City <br />contained in any agreement with the Bond Registrar. Thereupon <br /> <br />321094.2 11 <br /> <br /> <br />