1961.03.21 CC Minutes - Laserfiche WebLink

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February 1, 1972 or any interest payment date thereafter at a price of 102% of par plus accrued interest. Interest shall be payable on February 1, 1962, and semiannually thereafter to maturity. Bot'll-i principal and interest shall be payable at the main office of the Northwestern National Bank of Minneapolis, Minneapolis, Minnesota the Village agreeing to pay the reasonable and customary charges of said paying agent and to furnish the printed and executed bonds and unqualified approving legal opinion of Messrs. Briggs and Morgan of St. Paul _J1 Minnesota 11 without expense to the purchaser. (4) The bonds and interest coupons attached thereto shall be in sub- stantially the following form: UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF WASHINGTON 'VILLAGE OF HUGO WATERWORKS IMPROVEMENT BOND OF 1961 No. $1,000 KWal ALL MEN BY THESE PRESENTS That -the Village of Hugo, Washing- ton County, Minnesota, acknowledges itself to be indebted and for value received promises to pay to bearer the sum of ONE THOUSAND DOLLARS on -the first day of February, 19_, or, if this bond is redeemable as stated below, on a date prior thereto on which it shall have been duly called for earlier redemption, and to pay interest thereon from -the date hereof to maturity, or, if this bond is redeemable as stated below, until it has been duly called for redemption at the rate of per cent ( 0,,.') per annum payable on February 1, 1962, and semiannually thereafter on August 1 and February 1 in accordance with and upon presentation and surrender of the interest coupons attached hereto; and to -pay additional interest thereon at the rate of One and Twenty Hundredths per cent ( 1.2 %) from -i,,Iav 1 -, 19 61 to _August 1 19 62 , payable on February 1, 1962, and semiannually thereafter on August 1 and February 1 in accordance with and upon presentation and surrender of the separate "B" coupons hereto attached. Both principal and interest are payable at the main office of Northwestern National Bane of idinneapolls in Minneapolis _, iviinnesotca P in any coin or currency of the United States of America 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 become due, the full faith, credit and taxing powers of the Village are hereby irrevocably pledged All bonds of this issue maturing in the years 1963 through 1972, inclusive, being numbered 1 through 120, inclusive, are payable on their stated maturity dates without option of prior payment. Bonds of this issue maturing in the years 1973 through 1981, inclusive, being numbered 121 through 160, inclusive, are subject to redemption and prepayment at the option of the Village, in inverse numerical order, on February 1, 1972 or any interest payment date thereafter at a price of 102% of par plus accrued -4-