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,. . UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON No. $5,000 TEMPORARY WATER IMPROVEMENT BOND OF 1975 KNOW ALL MEN BY THESE PRESENTS That the City of New Brighton, Ramsey County, Minnesota, acknowledges itself to be indebted and for value received hereby promises to pay to bearer on the 1st day of April, 1978 the sum of FIVE THOUSAND DOLLARS and to pay interest thereon from the date hereoI until the principal amount is paid at the rate of ( %) per annum, interest to maturity payable October 1, 1975 and semiannually there- after on April 1 and October 1 in accordance with and upon presentation and surrender of the interest coupons hereto attached as they severally become due. Both principal of and interest on this bond are payable at the main office of in , Minnesota in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. All bonds of this issue are subject to redemption and prior payment at any time on or after October 1, 1977 at par and accrued interest. Thirty days' prior notice will be given by mail to the bank where the bonds are payable and to the last known holder, and published notice of redemption will be given in the manner provided by Minnesota Statutes, Chapter 475. Holders desiring to receive such notice must register their names, addresses and bond numbers with the City Clerk. This bond is one of an issue of bonds in the aggregate principal amount of $1,220,000, all of like date and tenor and issued pursuant to and in full conformity with the Constitution and Laws of the State of Minnesota, including Chapter 429, Minnesota Statutes, for the purpose of providing temporary funds to defray the expenses incurred and to be incurred in connection with Improvement No. 75-2, consisting of an elevated storage tank, distribution water mains and appurtenances thereto, in the City, and is payable from the Temporary Water Improvement Bonds of 1975 Fund out of the proceeds of definitive improvement bonds which shall be issued and sold at or prior to the maturity of this bond to the extent that the same cannot be paid out of the special assessments for such improvements or taxes thereto- fore collected or out of any other municipal funds which are properly available and are appropriated for such purpose, and the holders of the bonds of this issue have the right to require the issuance of definitive bonds bearing interest at the rate of 6.00% per annum, maturing and subject to redemption as provided by law, on a par for par basis with such temporary bonds; provided, however, the full faith and credit of the City have been irrevocably pledged for the payment of principal and interest on this bond and any definitive bond exchanged therefor, and the City will levy a direct ad valorem tax upon all of the taxable property in the City if necessary to provide for any deficiency.