Resolution - #89-11-321 - 11/28/1989

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The i?i ~:y ~l: Ramsey, Minnesota, a duly organized and existing municipal corporation in Anoka Coumy:. Minnesota (City), acknowledges itself to be indebted and for value received hereby promises to pay t~ or registered ~_tssigas, tile principal stun of $ on the maturity date specified above, with interest thereon from the date hereof at the annual rate specified above, payable February 1 and August 1 in each year, commencing August 1, 1990, to the person in whose name this Bond is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. Thc: im:er~cst hereon and, upon presentation and surrender hereof, the principal hereof are payable i~ l:tw~'ul money of the United States of America by check or draft by ,Minnesota, as Bond Registrar, Paying Agent, Tran~!"~/~.~e~nd Authenticating Agent, or its designated successor under the Resolution described heretic. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith and credit and taxing powers of the City have been and are hereby irmvo~zably pledged. The Cily m~,y elect on February 1, 1997, and on any day thereafter, to prepay Bonds of this issue maturing on or after February 1, 1998. Redemption may be in whole or in part of the Bonds subject to pml)ayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity dar,: will be prepaid first. If only part of the Bonds having a common maturity date are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. AH prepayn ~{:n~s shall Ix: at a price of par plus accrued interest. The C~ty Cotmcil has designated the Bonds as "qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the "Code") relating to disallowance of interest expen se for financial institutions and within the $10 million limit allowed by the Code for the calendar year of issue. Add itiomd ivmvisions of this Bond are contained on the reverse hereof and such provisions have the same cffe<:t as though fully set forth in this place. This B(md will not be valid or become obligatory for any purpose or be entitled to any security or l-~:ne£it under the Resolution until the Certificate of Authentication hereon has been executed by the Bt}nd Registrar by manual signature of one of its authorized representatives. IN WI]'NESS WItEREOF, the City of Ramsey, Anoka County, Minnesota, by its City Council, has c;ms,~d this Bond to be executed on its behalf by the facsimile signatures of the Mayor and Ciiy Administrator and has caused this Bond to be dated as of the date set forth below. Dated: City of Ramsey, Minnesota City Administrator (facsimile) Mayor CERTIFICATE OF AUTHENTICATION This is om'~ ~: the Bonds delivered pursuant to the Resolution mentioned within. By Authorized Representative