Man that is awesome. I bet it is a real hoot to ride. If the fenders are plastic or even fiberglass you can bring back most of the original finish with a good rubdown of kerosene. If its a briggs or tecumsch motor it will run forever.....
You might want to check this website for a reference: http://www.oldminibikes.com/forum/forum.php
I am wondering if that was sold in Caldors. That was the big box store of the 1970's
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