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UNITED STATES OF Ai9ERICA STATE OF MINNESOTA COUNTY OF RAIMSEY VILLAGE OF HOUNDS VIEW IMPROVEMENT BOND OF 1969 No. $5,000 KNOW ALL MEN BY THESE PRESENTS that the Village of Mounds View, a municipal corporation of Ramsey County, Minnesota, hereby acknowledges itself to be indebted and fo- value received promises to pay to bearer the sum of FIVE THOUSAND DOLLARS on the first day of February, 19 or, if this bond is prepayable as noted below, on a prior date on which it shall have been duly called for redemption, and to pay interest thereon at the rate of six and eighty hundredths per cent (6.80X) per annum from the dare hereof until said principal sum is paid, or until this bond, if prepayable, is duly called for redemption, pay- able on February 1 and August 1 of each year, commencing on February 1, 1970, interest to maturity being payable in accordance with the 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 said principal and interest as the same become due the full faith, credit and taxing powers of said Village shall be and are hereby irrevocably pledged. This bond is one of an issue in the aggregate principal amount of $205,000, all of like date and tenor except as to serial number, maturity SEM- tramactsxsa8a and redemption privilege, issued by said Village pursuant to a resolution duly adopted by the Village Council for the purpose of paying costs of necessary local improvements within the Village, and is issued pursuant to and in full conformity with the Constitution and laws of the State of Minne- sota thereunto enabling, including Minnesota Statutes, Chapter 429. This bond is payable primarily from the Improvement Bond Redemption Fund of the Village, created by Ordinance No. 68, but the Council is required by law to pay the principal and interest thereof out of any fund of the Village if ever the amount credited to said fund should be insufficient for such purpose. Bonds of this issue maturing in the years 1972 through 1981 are not subject to redemption prior to maturity, but those maturing in the years 1982 through 1989 are each subject to redemption and prepayment in inverse order of serial numbers at the option of the Village on February 1, 1981, and any in- terest payment date thereafter, and at a price of 1022 of par plus accrued in- terest. Not less than thirty days before the date specified for prepayment and redemption of any of said bonds, the Village will publish a notice of call for redemption in a financial periodical published in a Minnesota city of the first class, or its metropolitan area. -1-