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Fund, the sum of FIVE THOUSAND DOLLARS on the first day of March 1982, and <br />to pay interest thereon from the date hereof until the principal amount is <br />paid at the rate of 6.0574 percent (6.0574 %) per annum, interest to <br />maturity payable March 1, 1980, and semiannually thereafter on the first <br />day of March and the first day of September in each year in accordance <br />with and upon presentation and surrender of the interest coupons hereto <br />attached as they severally become due. Both principal of and interest on <br />this bond are payable at the BancNorthwest in any coin or currency of the <br />United States of America which on the date of payment is legal tender for <br />public and private debts. <br /> <br /> This bond is one of an issue of bonds in the total principal amount <br />of $950,000, all of like date and tenor except as to maturity, interest <br />rate, and serial number, all issued by the City for the purpose of providing <br />money to defray the expenses incurred and to be incurred in making local <br />improvements, pursuant to and in full conformity with the Constitution and <br />laws of the State of Minnesota, including Minnesota Statutes, Chapter 429, <br />and is payable primarily from special assessments against property and is <br />specially~benefitted .thereby, but constitutes a general obligation of the <br />City and, to provide moneys for the prompt and full payment of said <br />principal and interest as the same become due, the full faith and credit <br />of the City is hereby irrevocably pledged, and the City Council will levy <br />ad valorem taxes, if required for such purpose, which taxes may be levied <br />on all of the taxable property in the City without limitation as to rate or <br />amount. <br /> <br /> IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things <br />required by the Constitution and laws of the State of Minnesota to be done, <br />to happen and to be performed precedent to and in the issuance of this bond <br />have been done, have happened and have been performed in regular and due form, <br />time and manner as required by law; and that this bond, together with all <br />other indebtedness of the City outstanding on the date hereof and on the <br />date of its actual issuance and delivery does not exceed m~y constitutional <br />or statutory limitation thereon. <br /> <br /> IN WITNESS WHEREOF, the City of Ramsey, Anoka County, Minnesota, by <br />its City Council, has caused this bond to be executed by the facsimile <br />signature of the Mayor and the manual signature of the City Administrator <br />and selaed with a facsimile of the corporate seal of the City and the interest <br />coupons hereto attached to be executed and authenticated by the facsimile <br />signatures of said officers, all as of September l, 1979. <br /> <br />' (Facsimile)' <br /> <br />Mayor <br /> <br />City Admlnlstrator <br /> <br />(Facsimile seal) <br /> <br />Council/Page 7 <br />8/2 7/79 <br /> <br /> <br />