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CERTIFICATE OF REGISTRAR <br />AND AUTHENTICATING AGENT <br /> <br />$345,000 GENERAL OBLIGATION EQUIPMENT <br />CERTIFICATES OF INDEBTEDNESS, SERIES 2004B <br />CITY OF RAMSEY, MINNESOTA <br /> <br />4 <br /> <br />o <br /> <br />I, ., do hereby certify that I am a <br /> ., duly appointed and acting as such, of Northland Trust <br />Services, Inc., located in the City of Minneapolis, Minnesota (the "Registrar"). <br /> <br />Pursuant to authorization by, and direction of, the City of Ramsey, Minnesota (the <br />"City"), certain of the authorized officers listed on the attached Exhibit A have this day <br />authenticated each of the certificates of the above issue, being fully registered certificates <br />in the denominations equal to the total principal amount of the certificate issue due on the <br />specified maturity date therefore and bearing the numbers of R-1 and upward and have <br />caused each of said certificates to be registered in the name of a "person" as defined in <br />Section 1-201 of the Uniform Commercial Code, all in accordance with the provisions of <br />that certain resolution adopted December 14, 2004, by the City Council (the <br />"Resolution"). <br /> <br />The authorized officers who have signed the certificates have been duly authorized to <br />sign said certificates on behalf of the Registrar acting as authenticating agent. <br /> <br />To the best of our knowledge the provisions of any registrar's agreement to be entered <br />into between the City and the Registrar will not conflict with the provisions of the <br />Resolution with respect to the duties and responsibilities of the Registrar set forth therein. <br /> <br />The CUSIP (Committee of Uniform Securities Identification Procedure) number of the <br />certificate of the above referenced issue with the latest maturity is: <br /> <br />Dated: December__, 2004. <br /> <br />NORTHLAND TRUST SERVICES, INC. <br /> <br />By <br /> <br />Authorized Officer <br /> <br />1714595vl <br /> <br /> <br />