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. . all bonds maturing in the years 1987 to 1990 being subject to redemption at the option of the City and in inverse numerical order on April 1, 1986 and any interest payment date thereafter at par, accrued interest and a premium of 1.00% of the principal amount of bonds called for prior redemption. 3. Both principal and interest shall be payable at Northwestern National Bank of Minneapolis, Minneapolis, Minnesota and the City shall pay the reasonable charges of said bank for its services as paying agent. 4. The bonds, the interest coupons to be thereto attached and the Clerk's certificate on the reverse side thereof shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF NEW BRIGHTON No. $5,000 PERMANENT 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 the sum of FIVE THOUSAND DOLLARS on the 1st day of April, 19 , and to pay interest thereon from the date hereof until the principal amount is paid at the rate of interest to maturity payable October 1, 1975 and semiannually there- after on the 1st day of April and the 1st day of October in each year in accordance with and upon presentation and surrender of the interest coupons hereto attached as they severally become due. Both principal and interest on this bond are payable at 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 maturing in the years 1987 to 1990, both inclusive, are subject to redemption at the option of the City and in inverse numerical order on April 1, 1986 and any interest payment date thereafter at par, accrued interest and a premium of 1.00% of the principal amount of bonds called for prior redemption. Thirty days' prior notice of redemption 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. This bond is one of an issue of bonds in the aggregate principal amount of $423,000, all of like date and tenor except as to maturity~ interest rate, denomination, and redemption privilege, 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 defraying the expenses incurred in connection with constructing Improvements Nos. 72-3, 72-4, 72-5, 72-6, 72-10, 72-11, and 72-12, consisting of acquiring, opening and widening street right-of-way, grading, graveling and surfacing of streets and installation of curb and gutter, sanitary sewer,