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registered a~ the close of business on the fifteenth day (whether or not a business day) of the <br />immediately preceding month. The interest hereon and, upon presentation and surrender hereof, <br />the principal hereof are payable in lawful money of the United States of America by check or draft <br />by ........... Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and <br />A uthenticafi n g Agent, or its designated successor under the Resolution described herein. For the <br />prompt and ;uil payment of such principal and interest as the same respectively become due, the <br />full faith and credit and taxing powers of the City have been and are hereby irrevocably pledged. <br /> <br /> T~-~c City may elect on February 1, 1997, and on any date thereafter, to prepay Bonds of <br />this issue ntatt~rhtg on or after February 1, 1998. Redemption may be in whole or in part of the <br />Bonds subje~:t to ~repayment. If redemption is in part, those Bonds remaining unpaid which have <br />the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity <br />date are called :f()r prepayment the specific Bonds to be prepaid will be chosen by lot by the <br />Registrar. All prepayments shall be at a price of par plus accrued interest. <br /> <br /> The (~if-y Council has designated the Bonds as "qualified tax exempt obligations" within the <br />meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the Code) <br />relating to db;allowance of interest expense for financial institutions and within the $10 million limit <br />allowed by d~e Code for the calendar year of issue. <br /> <br /> Adtlitiom¢ provisions of this Bond are contained on the reverse hereof and such provisions <br />for all proposes have the same effect tis though fully set forth in this place. <br /> <br /> This i~ond is not valid or obligatory for any purpose or entitled to any security or benefit <br />under the Resolut}on until the Certificate of Authentication hereon has been executed by the Bond <br />Registrar by mammal signature of one of its authorized representatives. <br /> <br /> IN 'WI~i'N~-;~SS 'WHEREOF, the City of Ramsey, Anoka County, Minnesota, by its City <br />Council, has caused this Bond to be executed on its behalf by the facsimile signatures of the Mayor <br />and City Adrnims~rator and has caused this Bond to be dated as of the date set forth below. <br /> <br />Dated: <br /> <br />CITY OF RAMSEY, MINNESOTA <br /> <br /> ~ ffacsimile) <br />..?ly A~,.mm ~strator <br /> <br />(facsimile) <br />Mayor <br /> <br /> CERTIFICATE OF AUTHENTICATION <br /> <br />This i~; {mc of the Bonds delivered pursuant to the Resolution mentioned within. <br /> <br />By <br /> <br />Authorized Representative <br /> <br />Reverse of the Bond <br /> <br /> This ltor.,d is one of an issue in the aggzegate principal amount of $530,000 all of like <br />original issue date m~d tenor, except as to number, maturity date, redemption privilege, and interest <br />rate, all issued !3m'suant to a resolution adopted by the City Council on November 28, 1989 (the <br /> <br /> <br />