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Year Amount Inteyejt Rate Year Amount Interest Rate
<br />1969 $65,000 4.30% 1983 90,000 4.50%
<br />1970 65,000 4.30% 1984 105,000 4.50%
<br />1971 65,000 4.30% 1985 105,000 4.50%
<br />1972 80,000 4.30% 1986 105,000 4.50%
<br />1973 80.000 4.30% 1987 105,000 4.60%
<br />1974 80,000 4.30% 1988 105,000 4.60%
<br />1975 80,000 4.30% 1989 105,000 4.60%
<br />1976 80,000 4.30% 1990 105,000 4.60%
<br />1977 90,000 4.50% 1991 105,000 4.60%
<br />1978 90,000 4.50% 1992 115,000 4.60%
<br />1979 90,000 4.50% 1993 115,000 4.60%
<br />1980 90,000 4.50% 1994 115,000 4.60%
<br />1981 90,000 4.50% 1995 115,000 4.60%
<br />1982 90,000 4.50% 1996 115,000 4.60%
<br />Interest shall be payable each January 1 and July 1, commencing on January
<br />January 1, 1967. Interest at the basic rate applicable to each bond,
<br />from date of issue to maturity, shall be represented by appropriate
<br />interest coupons appurtenant to such bond, and each and all of the
<br />bonds shall bear additional interest represented by separate coupons
<br />designated as "B" coupons, at the rate of 1.20% per annum for the
<br />limited period from October 1, 1966, to January 1, 1968. The bonds
<br />maturing in the years 1969 through 1981 shall not be subject to re-
<br />demption before maturity, but those maturing in the years 1982 through
<br />1996 shall be each subject to redemption and prepayment at the option
<br />of the Village on January 1, 1981, and any interest payment date
<br />thereafter, at a price of 101 10 of par and accrued interest. Not
<br />less than thirty days before the date specified for prepayment and
<br />redemption of any of said bonds, the Village Treasurer shall mail
<br />notice of the call thereof to the holder, if known, and to the bank
<br />at which principal and interest are then payable, and the Treasurer
<br />is directed to maintain a record of the names and addresses of holders
<br />of prepayable bonds for the purpose of mailing such notices so far
<br />as such information is made available to him. The principal of and
<br />interest on said bonds shall be payable at the American National
<br />Bank and Trust Company in St. Paul, Minnesota, and the Village hereby
<br />agrees to pay the reasonable and customary charges of said paying
<br />agent for the receipt and disbursement thereof.
<br />3. The bonds shall be prepared for execution forthwith, executed
<br />and delivered to Miller and Schroeder, Inc., of Minneapolis, Minnesota
<br />as purchaser thereof, in the manner and substantially in the form set
<br />forth in said Ordinance No. 68, upon payment by the purchaser of par
<br />plus accrued interest, as provided in the contract of sale of said
<br />bonds heretofore accepted by this Council. The proceeds of issuing
<br />said bonds shall be credited by the Treasurer to the funds and in
<br />the amounts as follows:
<br />FUND
<br />Sanitary and Storm Sewer and Street Re-
<br />surfacing Improvement
<br />Sanitary Sewer and Water Improvement 1966 -1
<br />Sanitary Sewer, Watermain and Surface Water
<br />Drainage Improvement 1966 -3
<br />Temporary Improvement Bond Fund
<br />AMOUNT
<br />256,040
<br />73,000
<br />735,960
<br />1.575.000
<br />2,640,000
<br />
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