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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY GENERAL OBLIGATION WATER REVENUE BOND or 1969 No. $5,000 KNOW ALL MEN BY THESE PRESENTS that the Village of Mounds View, Ramsey County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the 1st day of February, 19 or, if this bond is redeemable as provided below, then on a date prior thereto on which it shall have been duly called for redemption, and the Vil- lage promises to pay interest on said principal sum from the date hereof until said principal sum is paid, or if this bond is redeemable then until it shall have been duly called for redemption, at the rate of six and eighty hundredeths per cent 6.80 per annum, payable on February 1 and August 1, beginning on February 1, 1970, interest to maturity being represented by and payable in accord- ance with and upon presentation and surrender of the interest coupons appurtenant hereto. Both principal and interest are payable at The First National Bank of Saint Paul in St. Paul Minnesota in any coin or currency of the United States of America which on the respective dates of payment is legal tender for public and private debts. For the prompt and full payment of such principal and interest as the same become due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged. This bond is one of an issue of $1,115,000 aggregate principal amount, all of like date and tenor except as to serial number, maturity date date VONOOR Ma and redemption privilege, issued by said Village for the purpose of financing waterworks improvements, and is issued pursuant to res.lutions duly adopted by the Village Council, and pursuant to and in full conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Section 444.075. Bonds of this issue maturing in the years 1972 through 1981 are payable on their stated maturity dates without option of prior payment, but bonds having stated maturity dates in the years 1982 through 1991 are each subject to redemption and prepayment at the option of the Village in inverse order of serial numbers on February 1, 1981, and any interest payment date thereafter at 102% of par valve plus accrued interest. Notice of the redemption of any bond prior to its stated maturity date will be published at least thirty days before the date specified for redemption in a financial periodical published in a Minnesota city of the first class or its metropolitan area. IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, conditions and things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed precedent to and in the issuance of this bond in order to make it a valid and binding general obliga- tion of the Village according to its terms, have been done, do exist, have -1-