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The Bonds are issued without right of prior redemption. <br /> <br /> 3. Both principal of and interest on the Bonds shall be payable <br />at First National Bank in Anoka, Anoka, Minnesota <br /> <br />and the City of Ramsey shall pay the reasonable charges of said bank for <br />its services as paying agent. <br /> <br /> 4. The Bonds and the interest coupons to be thereto attached <br />shall be in substantially the following form: <br /> <br />No. $5,000 <br /> <br />UNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF ANOKA <br /> CITY OF RAMSEY <br /> <br />GENERAL OBLIGATION IMPROVEMENT BOND OF 1980 <br /> <br /> KNOW ALL MEN BY T}IESE PRESENTS that the City of Ramsey, Anoka <br />County, Minnesota, acknowledges itself to be indebted and, for value re- <br />ceived, hereby promises to pay to bearer without option of prior payment, <br />out of its General Obligation Improvement Bonds of 1980 Fund, the sum of <br />FIVE THOUSAND DOLLARS on the 1st day of September, 19 81 , and to pay inte- <br />rest thereon from the date hereof until the principal amount is paid at the <br />rate of percent ( %) per annum, interest to maturity <br />payable September 1, 1981, and semiannually thereafter on the 1st day of <br />March and the 1st day of September in each year in accordance with and upon <br />presentation and surrender of the interest coupons hereto attached as they <br />severally become due. Both principal of and interest on this bond are <br />payable at the <br /> <br />in any coin or currency of the United States of America which on the date <br />of payment is legal tender for public and private debts. <br /> <br /> This bond is one of an issue of bonds in the total principal <br />amount of $875,000, all of like date and tenor except as to maturity, <br />interest rate and serial number, all issued by the City for the purpose of <br />providing money to defray the expenses incurred and to be incurred in <br />making local improvements, pursuant to and in full conformity with the <br />Constitution and laws of the State of Minnesota, including Minnesota <br />Statutes, Chapter 429, and is payable primarily from special assessments <br />against property specially benefited thereby, but constitutes a general <br />obligation of the City, and, to provide moneys for the prompt and full <br />payment of the principal of and interest on the bonds as the same become <br />due, the full faith and credit of the City is hereby irrevocably pledged, <br />and the City Council will levy ad valorem taxes, if required for such <br />purpose, which taxes may be levied on all of the taxable property in the <br />City without limitation as to rate or amount. <br /> <br /> IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and <br />things required by the Constitution and laws of the State of Minnesota to <br />be done, to happen and to be performed precedent to and in the issuance of <br /> <br /> <br />