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1l~87 2. The bonds and interest coupons to be issued hereunder shall be in substantially the follocaing form: UNITED STATES OF AMERICA STATE OF P1TIPdNESOTA COUATTY OF RAMSEY VILLAGE OF FALCON HEIGHTS a~~ATERMAIN II'~iPROVEI~~LENT OF 19E~0, N0. 1, BOND rao . ~l,ooo KNOGd ALL MEN BY THESE PRESENTS That the Village of Falcon Heights, Ramsey County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of ONE THOUSAND DGLLARS on the 1st day of Septerriber, lg and to pa.y interest thereon from the date hereof until said principal sum be paid, or if this bond is redeemable, until it has been duly called for redemption, at the rate of :E'our percent (x.00/) per annum from date of issue until paid, which interest is payable on September 1, 19E~1 and semi-arinuall.y thereafter on the first day of March and the first day of September of each year, interest to maturity being payable in accordance with, and upon pre^ sentation and surrender of the interest coupons hereto attached, plus additional interest at the rate of two percent (2.00j~) per annum from October 1, 1g60 to September 1, 1862 payable September 1, 1961, March 1, 1g62, and September 1, 192, which interest is represented ~b.y a separate set of coupons designated as "B" coupons. Both prir~cipal and interest are payable at the American National Bank, St, Paul, P~innesota, in any coin or currency of the United States of AmerS.ca which on the date of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged. Bonds of this issue maturing Septemberi 1, 1979 and September 1, 1g~30 are subject to redemption and prior payment at the option of the Village in inverse order of their numbers, on September 1, 1963 and on an,y interest payment date thereafter at par and accrued interest, plus a premium of 30.00 if called for redemption before September 1, 1970 and plus a premium of 20.00 if called for rede~r~ption on or after Sept- ember 1, 1870. All other bonds of this issue maturing on September 1, 1970 and thereafter are subject to redemption and prior payment at the option of the Village, in inverse order of their numbers, on September 1, 1970 and on any interest payment date thereafter at par and accrued in- terest, plus a premium of X20.00. Thirl~y days prior notice of redemption shall in each case be given to the bank where said bonds are payable and to the last known holder. Holders desi~°~.ng to receive such notice must register their names, addresses and bond. nurrioers with the Village Clerk. - 2 -