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<br />INTENDED TO BE INCLUDED IN GROSS INCOME FOR FEDERAL INCOME <br />TAXATION PURPOSES AND, TO THE SAME EXTENT, IN BOTH GROSS INCOME AND <br />TAXABLE NET INCOME FOR STATE INCOME TAXATION PURPOSES. This Bond does <br />not qualify for designation by the Issuer as a "qualified. tax~exempt obligation" for purposes of <br />Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, conditions and things <br />required by the Constitution and laws of the State of Minnesota to be done, to happen and to be <br />performed, precedent to and in the issuance of this Bond, have been done, have happened and <br />have been performed, in regular and due form, time and manner as required by law, and that this <br />Bond, together with all other debts of the Issuer outstanding on the date of original issue hereof <br />and the date of its issuance and delivery to the original purchaser, does not exceed any <br />constitutional or statutory limitation of indebtedness. <br /> <br />IN WITNESS WHEREOF, the City of Ramsey, Anoka County, Minnesota, by its City <br />Council has caused this Bond to be executed on its behalf by the facsimile signatures of its <br />Mayor and its Administrator, the corporate seal of the Issuer having been intentionally omitted as <br />permitted by law, <br /> <br />Date of Registration: <br /> <br />Registrable by: NORTHLAND TRUST <br />SERVICES, INC. <br /> <br />BOND REGISTRAR'S <br />CERTIFICATE OF <br />AUTHENTICATION <br /> <br />NORTHLAND TRUST <br />SERVICES, INC. <br /> <br />CITY OF RAMSEY, <br />ANOKA COUNTY, MINNESOTA <br /> <br />Payable at: <br /> <br />This Bond is one of the <br />Bonds described in the <br />Resolution mentioned <br />within. <br /> <br />/s/ Facsimile <br />Mayor <br /> <br />Northland Trust Services, Inc., <br />Minneapolis, Minnesota <br />Bond Registrar <br /> <br />/s/ Facsimile <br />Administrator <br /> <br />By <br />Authorized Signature <br /> <br />241JIJ8v2 <br /> <br />12 <br />