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<br /> , <br /> > <br /> ~ <br /> , 3. Both~rinc~pal and. interest shall be parable at . <br /> the main office of he F~r8t Nat~onal Bank of St. Peu <br /> . and the Village shall pay the reasonable charges of said bank <br /> for its services as paying <?-gent. <br /> 4, The Bonds and the interest coupons thereto attached, <br /> and the Clerk's certificate on the reverse side thereof, shall be <br /> in substantially the following form: <br /> UNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF RAMSEY <br /> VILLAGE OF NEW BRIGHTON <br /> No. . $5,000 <br /> WATER FACILITY BOND OF 1970 <br /> KNOW ALL MEN BY THESE PRESENTS That the Village of New <br /> Brighton, Ramsey County, Minnesota, hereby acknowledges itself <br /> to be indebted and for value received promises to pay to bearer <br /> on the 1st day of December, 19 , without option of prior payment, <br /> the sum of FIVE THOUSAND DOLLARS and to pay interest thereon from <br /> the date hereof until the principal amount is paid at the rate of <br /> interest to maturity payable June 1, 1971 and semiannually thereafter <br /> on the 1st day of June and the 1st day of December in each year in <br /> accordance with and upon presentation and surrender of the interest <br /> coupons hereto attached as they severally become due. Both principal <br /> and interest are payable at the main office of <br /> in any coin or currency of the united States of America which at <br /> the time of payment is legal tender for public and private debts, <br /> and for the prompt and full payment of such principal and interest <br /> as the same become due the full faith, credit and taxing powers <br /> of the Village have been and are hereby irrevocably pledged. <br /> This bond is one of an issue of general obligation bonds <br /> in the aggregate principal amount of $1,224,000, all of like date <br /> and tenOr except as to maturity, denomination and interest rate <br /> and issued by the Village for the purpose of providing money for <br /> acquisition of two sites for an elevated storage tank and a well <br /> and future treatment facilities and the construction of <br /> lines, wells, and an elevated storage tank, pursuant to <br /> Section 444.075, Minnesota Statutes, and payable primarily from <br /> charges for the use and availability of sewer and water facilities <br /> of the Village and for connections therewith, the net revenues from <br /> which charges the Village has pledged to the payment of principal <br /> and interest of the bonds and similar obligations issued of to be <br /> issued by the Village, within the meaning of such statute. <br /> IT IS HEREBY CERTIFIED AND RECITED That the Village has <br /> covenanted and does hereby covenant to impose and collect charges <br /> of the nature authorized by said Section 444.075 at the times <br /> and in the amounts required to produce, together with pledged <br /> special assessments and taxes, net revenues adequate to pay all <br /> such principal and interest when due; that the Village has by <br /> ordinance established rates and charges estimated to be sufficient <br />