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improvements have been done, do exist, have happened, aced have been ;performed in
<br />due form, time and manner as so required.
<br />2. Said bonds ehall be dated January 1, 1964, uhall be r umi.ered ::eriall:
<br />from 1 to 35, inclusive, each in the denomination of 11,003, shall bear interest
<br />at the basic rate of 3.50;;, per annum, from date of 1, isee ntil Ta.i1 er •!Rely ci_
<br />for redemption, and shall mature aerially on January 1 de the resTcctive years an.:
<br />amounts as follows:
<br />Year Amoule.
<br />1966 $10,0u0 19T1 4,000
<br />1967 10,00.) 1972 2,000
<br />1968 3,06o 1973 2,d00
<br />1969 2,00a 0a 1974 2e000
<br />1970 2,0:10
<br />Interest shall be payable each January 1 aid: July 1, a L mene ini ..n J aauary 1,
<br />1965. Interest at the basic rate applicable to each bond, from date oof issue
<br />to maturity, shall be represented by appropriate interest eaupoee appurtenant
<br />to such bond, and each anu all of the bonds shall bear additional interest
<br />represented by separate coupons designated as "B" coupons, at the rate of 1.81
<br />per annum for the limited neriod from March 16, 1964, to.January 1, 1965. The
<br />bonds maturing in the year 1964 through 1969 shall not be subject to redemption
<br />before maturity, but thoee maturing in the years 1970 thrcih 17 shall be each
<br />subject to redemption and prepayment at the option of the Vi11a6e In inverse
<br />order of serial numbers on January 1, 1969, and any interest payment date there-
<br />after, at a price of par and accrued interest plus a premium or 40 For eacu
<br />bond prepaid. Not less than thirty days before the date specified for preps nenz.
<br />and redemption of any of eaid bonds, the Village Treasurer s]ra11 ana31 notice of
<br />the call thereof to the older, ]i' known, and to the bank at which principal and
<br />interest are then payable. and the Treasurer is directed to aaaintsirk a record
<br />of the names and addressee of holders of prepayable bonds for the purpose of
<br />mailing such notices eo fa_ as such information is made available to hem.. The
<br />principal of and interest .:n uaid bonds ohal1 be payable at the daeri'een National
<br />Bank of Saint Paul, in Se. Paul, Minnesota, and the Village hereby agrees to pay
<br />the reasonable and customary charges of such paying agent for the receipt and
<br />disbursement thereof.
<br />3. The bonds shall be prepared for execution, f ort:mi t h. executed and
<br />delivered to Juran Mood Inc., of St. Paul, Rlnneseta, as purchaser thereof,
<br />in the manner and substantially ie the form set forth le said Ordinance tic. 68,
<br />upon payment by the purchaser of par plus accrued interest, as provided in the
<br />contract of sale of said bonds heretofore eub riitted to and cons.idezed by this
<br />Council. Said contract, providin: for the issuance of said beede in accordance
<br />with the terms set forth eerein, Is hereby approved and the Mayor and Clerk shall
<br />execute the same in behalf of the Village. The proceeds of Insulne said bonds
<br />shall be credited by the Treasurer to the funds and in the amounts as. follows:
<br />Fiele MOUNT
<br />Waterworks Ik 1963
<br />(Grovcland Road)
<br />Waterworks N?. 1963
<br />(Red Oak and Loa view
<br />Drives)
<br />and used solely to pay t1iu costs if said improvements and for tae the purposes
<br />specified in said ordinance.
<br />-2
<br />Year Jlmuuut
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