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<br />No. R-l <br /> <br />$65,000 <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />GENERAL OBLIGATION TAX INCREMENT <br />BOND OF 1983 <br /> <br />KNOW ALL BY THESE PRESENTS that the City of New Brigh- <br />ton, Ramsey County, Minnesota, acknowledges itself to be <br />indebted and, for value received, hereby promises to pay to <br />the First State Bank of New Brighton, or its registered <br />assigns (the "Registered Holder"), the Pr incipal Sum of <br />SIXTY-FIVE THOUSAND DOLLARS ON THE 1ST DAY OF AUGUST in the <br />years and principal installments, respectively, as follows: <br /> <br /> Principal Principal <br />Year Installment Year Installment <br />1985 $5,000 1989 $ 9,000 <br />1986 5,000 1990 9,000 <br />1987 6,000 1991 10,000 <br />1988 6,000 1992 15,000 <br /> <br />or on any earlier date on which the principal installments <br />of this Bond may be and shall have been duly called for <br />prepayment, and to pay interest to the Registered Holder <br />from the date hereof on the pr incipal installments hereof <br />until the same are paid at the rate of eight percent (8.00%) <br />per annum, except that said interest rate on and after June <br />1, 1987, shall be six and twenty-five hundredths percent <br />(6.25%) per annum, interest to maturity payable on August 1, <br />1983, and semiannually thereafter on the 1st day of February <br />and the 1st day of August in each year. Both pr incipal <br />installments of and interest on this Bond are payable at the <br />First state Bank of New Brighton, in the City of New <br />Brighton, Minnesota, in any coin or currency of the United <br />States of America which on the date of payment is legal <br />tender for public and private debts. <br /> <br />The principal installments of this Bond are subject to <br />prepayment at the option of the Ci ty in inverse order of <br />maturity, in whole or in multiples of $1,000, at par plus <br />accrued interest, on July 1, 1987, and on the 1st day of any <br />month thereafter. <br /> <br />This Bond is issued by the City in aid of financing a <br />project pursuant to and in full conformity with the Consti- <br />tution and laws of the State of Minnesota, including Minne- <br />sota Statutes, Sections 273.71 to 273.78, inClusive, as <br />