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<br />531
<br />
<br />5. The bonds and interest coupons to be issued hereunder shall be
<br />in substantially the following form:
<br />
<br />UNITED STATES OF AMERICA
<br />STATE OF MINNESOTA
<br />DAKOTA COUNTY
<br />CITY OF HASTINGS
<br />
<br />No.
<br />
<br />$5,000
<br />
<br />r-i
<br />
<br />IMPROVEMENT BONDS
<br />OF 1970, SERIES B
<br />
<br />KNOW ALL MEN BY THESE PRESENTS that the City of Hastings, Dakota
<br />County, Minnesota, certifies that it is indebted and for value received
<br />promises to pay to bearer, without option of prepayment, the sum of
<br />
<br />FIVE THOUSAND DOLLARS
<br />
<br />on the first day of January, 19 and to pay interest thereon from the
<br />dat hereof until the principal is paid at the rate of
<br />per cent ( %) per annum, payable on the first day of July, 1971 and
<br />semiannually thereafter on the first day of January and the first day of
<br />July in each year, in accordance with and upon presentation and surrender
<br />of the interest coupons hereto attached, as the same severally become due.
<br />Both principal and interest are payable at the main office of the North-
<br />western National Bank of Minneapolis, in Minneapolis, Minnesota in any coin
<br />or currency of the United States of America which at the time of payment is'
<br />legal tender for public and private debts.
<br />
<br />'---',
<br />
<br />This bond is one of an issue in the total principal amount of
<br />$285,000. all of like date and tenor, except as to maturity and interest
<br />rate, which bond has been issued pursuant to and in full conformity with
<br />the Constitution and laws of the State of Minnesota for the purpose of pro-
<br />viding money for various improvements, and is payable out of the Improve-
<br />ment Bonds of 1970, Series B Fund of the City. This bond constitutes a
<br />general obligation of the City,'and to provide moneys for the prompt and full
<br />payment of said principal and interest when the same become due, the full
<br />faith and credit of said City have been and are hereby irrevocably pledged.
<br />
<br />IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and
<br />things required by the Constitution and laws of the State of Minnesota to
<br />be done, to happen and to be performed, precedent to and in the issuance
<br />of this bond, have been done, have happened and have been performed, in
<br />regular and due form, time and manner as required by law, and this bond,
<br />together with all other debts of the City outstanding on the date hereof
<br />and the date of its actual issuance and delivery does not exceed any consti-
<br />tutional or statutory limitation of indebtedness.
<br />
<br />IN WITNESS WHEREOF, the City of Hastings, Dakota County, Minnesota
<br />by its City Council has caused this bond to be executed in its behalf by the
<br />signatures of the Mayor and the City Clerk, and a facsimile of the corporate
<br />seal of said City to be printed hereon, and has caused the interest coupons
<br />to be executed and authenticated by the facsimile signatures of said officers,
<br />all as of July 1, 1970.
<br />
<br />sf Wallace H. Erickson
<br />City Clerk
<br />
<br />sf E.' J. Rotty
<br />Mayor
<br />
<br />,---
<br />
<br />(Form of Coupon)
<br />
<br />$
<br />
<br />No.
<br />
<br />On the first day of July (January), 19 , the City of Hastings,
<br />Dakota County, Minnesota, will pay to bearer at the main office of the North-
<br />western National Bank of Minneapolis the sum shown hereon for interest then
<br />due on its Improvement Bondof 1970, Series B, No. dated July 1, 1970.
<br />
<br />sf Facsimile
<br />City Clerk
<br />
<br />sf Facsimile
<br />Mayor
<br />
<br />6. The City Clerk is directed to cause said bonds to be prepared
<br />
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