1975.11.17 CC Minutes - Laserfiche WebLink

Home

No. UNITED STATES OF XC RICA STATE OF MINNESOTA WASHINGTON COUNTY CITY OF HUGO GENERAL OBLIGATION IMPROVEMENT BOND OF 1975 $5,000 KNOW ALL PERSONS BY THESE PRESENTS that the City of Hugo, Washington County, Minnesota, certifies that it is indebted and for value received promises to pay to bearer, without option of prepayment the principal sum of FIVE THOUSAND DOLLARS on the first day of March, 19 and to pay interest there- on from the date hereof until the principal is paid at the rate of percent ( %) per annum, payable on the first day of September, 197 and semiannually thereafter on the first day of March and the first day of September in each year, interest to maturity being represented by and payable in accordance with and upon presentation and surrender of the interest coupons hereto attached, as the same severally become due. Both principal and interest are payable atThe First National Bank of of Saint Paul, in St. Paul, Minnesota , or any successor Paying Agent duly appointed by the City, in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. This bond is one of an issue in the total principal amount of $155,000 all of like date and tenor, except as to serial number, maturity and interest rate, which bond has been issued pursuant to and in full conformity with the Constitution and laws of the State of Minnesota for the purpose of providing money for the construction of street and storm sewer improvements, and is payable out of the General Obligation Improvement Bonds of 1975 Fund of the City. This bond constitutes a general obligation of the City, and to provide moneys for the prompt and full payment of said principal and interest when the same become due, the full faith and credit and taxing powers of said City have been and are hereby irrevocably pledged. -4-