Resolution - #87-151 - 07/07/1987

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Th~ C~ty of Ramsey, a duly organized and existing municipal corpo- ration i~n A~,.~oka County, Minnesota (City), acknowledges itself to be indebt- ed arid for Yalue received hereby promises to pay to or regi:~i:er,~d assigns, the principal sum of $ on the maturity date specffi~d above with interest thereon from the date hereof at the annual rate .~p~ctf:ied above, payable February 1 and August i in each year, commen- cing Febroa~y 1, ].988, to the person in whose name this Bond is registered at the cios~a of business on the fifteenth day (whether or not a business day) of tb~ immediately preceding month. The interest hereon and, upon presentation,, and surrender hereof, the principal hereof are payable in lawfn]~ r,~'~y of the United States of America by check or draft by , , Minnesota, as Bond Registrar:,', ~aying Agent, Transfer Agent and Authenticating Agent, or its designated ~uccessor under the Resolution described herein. For the prompt and full p~yment of such principal and interest as the same respectively become d~e.~, the full faith and credit and taxing powers of the City have been ar~.d a,_*~: hereby irrevocably pledged. The Ci~:y may elect on February 1, 1996, and on any interest payment date thereafter, to prepay Bonds of this issue maturing on or after February ~, 1.997. Redemption may be in whole or in part of the Bonds subjec~ ~c. prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of %~he Bonds having a common maturity date are called for prepayment the spe~:ifi.: Bonds to be prepaid will be chosen by lot by the Registrar. Ail prepaym~,~nts shall be chosen by lot by the Registrar. Ail prepayments shall be at a price of par plus accrued interest. Ad~'Iti~nal provisions of this Bond are contained on the reverse hereof and such provisions shall for all purposes have the same effect as though fully set f~th in this place. This ~,nd shall not be valid or become obligatory for any purpose or be ent:[~]ed to any security or benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by the Bond Registrant }~5' manual signature of one of its authorized representatives. ]~ WIT~qESS WHEREOF, the City of Ramsey, Anoka County, Minnesota, by its C:Ity Co~ncil, has caused this Bond to be executed on its behalf by the facsimi].e signatures of the Mayor and City Administrator and has caused this Bond t~ be dated as of the date set forth below. Dated: CITY OF RAMSEY, MINNESOTA (iecsJmile) City Admi~.i~t rator (facsimile) Mayor