Agenda - Council - 04/27/2010 - Laserfiche WebLink

Home

[1] KNOW ALL PERSONS BY THESE PRESENTS that the City of Ramsey, in the County of Anoka and State of Minnesota (the "Issuer"), for value received, promises to pay to the registered holder named above, or registered assigns, but only from the Bond Fund (as defined in the Indenture described below), and upon presentation and surrender hereof at the principal corporate trust office of the Trustee named below, the principal sum specified above, on the maturity date specified above, or, if this Bond is prepayable as stated below, on a prior date on which it shall have been duly called for redemption, and to pay interest on said principal sum to the Record Date Holder hereof, as defined below, solely from the Bond Fund, until the principal sum is paid or discharged, at the rates and on the dates provided herein, computed during the Variable Rate Period (hereinafter defined) on the basis of the actual number of days elapsed in a year of 365 or 366 days, as applicable, and during the Fixed Rate Period (hereinafter defined) on the basis of a 360 day year of twelve 30 day months. THIS BOND SHALL BE PURCHASED ON THE DEMAND OF THE HOLDER AT THE TIMES AND UPON THE TERMS AND CONDITIONS AS HEREINAFTER DESCRIBED. This Bond shall bear interest from the date of original issue, or in the case of transfer or exchange from the most recent Interest Payment Date (hereinafter defined) to which interest has been paid or provided for. The "Record Date Holder" is the person in whose name this Bond is registered in the Bond Register maintained by the Trustee named below or its successor in trust (the "Registered Holder" or "Holder" hereof) either (i) with respect to each Variable Rate Interest Payment Date (hereinafter defined) on the Business Day next preceding such Variable Rate Interest Payment Date, and (ii) with respect to each Fixed Rate Interest Payment Date (hereafter defined) on the fifteenth day of the calendar month next preceding such Fixed Rate Interest Payment Date, whether or not such day is a Business Day. Interest shall be payable by check or draft mailed to the Registered Holder at the Holder's address as it appears on the Bond Register on the Record Date, except as otherwise provided in the Indenture. The principal of and interest and premium, if any, on this Bond are payable in lawful money of the United States of America. Upon notice to the Trustee accompanied by proper wire instructions, any Holder of the Bonds in an aggregate amount equal to or greater than $500,000 may elect to be paid the interest on such Bonds payable on any Interest Payment Date by Federal Reserve wire transfer in immediately available funds, less any applicable wire transaction cost, to any bank in the United States specified by such Holder. Interest not timely paid or duly provided for will be paid by check mailed to the person in whose name this Bond is registered on the Bond Register at the close of business on a date (the "Special Record Date") fixed by the Trustee, notice of which is to be mailed to all Bondholders. [2] This Bond is one of an issue of series in the aggregate original principal amount of $3,810,000 (the "Bonds"), all of like nominal date of original issue and tenor, except as to serial number and amount, issued in accordance with an Indenture of Trust, dated as of June 1, 2005, duly executed and delivered by the Issuer to U.S. Bank National Association, in St. Paul, Minnesota (the "Trustee"), as amended by the First Supplemental Indenture of Trust between the Issuer and the Trustee (collectively, the "Indenture"), setting forth the terms upon which the Bonds are issued. The Bonds are equally and ratably secured and entitled to the 4 2496622v1