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<br />rrhis bond is one of an issue in the total principal amount of
<br />$305,000 all of like date and tenor, except as to serial mmber, ma turi ty and
<br />interest rate which bond has been issued pursuant to and in full conformity
<br />with the Constitution and laws of the State of Minnesota for the purpose of
<br />providing IIDney for the construction of various improvements in the City, and
<br />is payable out of the General <bligation Improvement Bonds of 1980, Series A,
<br />Fund of the City. This bond constitutes a general obligation of the City, and
<br />to provide IIDneys for the pranpt and full payment of the principal and interest
<br />when the same becane due, the full faith and credit and taxing pONers of the
<br />City have been and are hereby irrevocable pledged.
<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 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 this bond, together with all other debts
<br />of the City outstanding on the date hereof and the date of its actual issuance
<br />and delivery does not exceed any constitutional or statutory limitation of
<br />indebtedness.
<br />
<br />IN WITNESS WHEREOF, the City of Hastings, Dakota and Washington
<br />Counties, Minnesota, by its City Council has caused this bond to be executed in
<br />its behalf by the facsimile signatures of the Mayor and the Clerk-Treasurer and
<br />the manual signature of one of said officers, the corporate seal of the City
<br />having been intentionally ani tted as permitted by law, and has caused the
<br />interest coupons to be executed and authenticated by the facsimile signatures
<br />of said officers, all as of July 1, 1980.
<br />
<br />/s/ Facsimile
<br />Clerk-Treasurer
<br />
<br />/s/ Facsimile
<br />Mayor
<br />
<br />(FORM OF CDUPON)
<br />
<br />No.
<br />
<br />$
<br />
<br />-- On the first day of July (January), 19 , the City of Hastings,
<br />Dakota and Washington Counties, Minnesota, will pay to bearer at
<br />, or any successor paying agent duly appointed by the City,
<br />the sum shONll hereon for interest then due on its General <bligation Improve-
<br />ment Bond of 1980, Series A, No. , Dated July 1, 1980.
<br />
<br />/s/ Facsimile
<br />Clerk-Treasurer
<br />
<br />/s/ Facsimile
<br />Mayor
<br />
<br />6. The bonds shall be executed on behalf of the City by the signatures
<br />of its Mayor and Clerk-Treasurer and be sealed with the seal of the City;
<br />provided, that one (or both) of the signatures and the seal of the City may be
<br />printed facsimiles (if the bonds are also signed manually by at least one such
<br />officer); and provided further that the corporate seal may be ani tted on the bonds
<br />as permitted by law. The interest coupons pertaining thereto shall be executed
<br />by the printed, engraved or lithographed facsimile signatures of the Mayor and
<br />Clerk-Treasurer.
<br />
<br />7. The bonds when so prepared and executed shall be delivered by the
<br />Clerk-Treasurer to the purchaser thereof upon receipt of the purchase price, and
<br />the purchaser shall not be obliged to see to the proper application thereof.
<br />
<br />8. There is hereby created a special fund to be designated "General
<br /><bligation Improvement Bonds of 1980, Series A, Fund" to be held and administered
<br />by the Clerk-Treasurer separate and apart fran all other accounts of the City.
<br />The Fund shall be maintained in the manner herein specified until all of the bonds
<br />herein authorized and the interest thereon have been fully paid. There shall be
<br />maintained in the Fund two separate accounts, to be designated the "Construction
<br />Account" and the "Debt Service Account" , respectively. The proceeds of the sale of
<br />the bonds herein authorized, less any prenium and accrued interest received
<br />thereon, and less capitalized interest in the amount of $5,280 (subject to such
<br />adjustments as are appropriate to provide sufficient funds to pay interest due on
<br />the bonds on or before July 1, 1981), plus any special assessments levied with
<br />respect to improvements financed by the bonds and collected prior to canpletion
<br />of the improvements and payment of the costs thereof, shall be credited to the
<br />Construction Account, fran which there shall be paid all costs and expenses of
<br />making the improvements listed in paragraph 9, including the cost of any
<br />
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