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UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />ANOKA COUNTY <br /> CITY OF RAaMSEY <br /> <br />GENERAL OBLIGATION CAPITAL EQUIPMENT <br />CERTIFICATE OF INDEBTEDNESS, SERIES 2002A <br /> <br />INTEREST MATURITY DATE OF <br />RATE DATE ORIGINAL ISSUE <br />% DECEMBER 15,200 ,2002 <br /> <br />REGISTERED OWNER: COMMUNITY FIRST NATIONAL BANK <br /> <br />PRINCIPAL AMOUNT: <br /> <br />DOLLARS <br /> <br /> KNOW ALL PERSONS BY THESE PRESENTS that the City ofRamsey, Anoka <br />County, Minnesota (the "Issuer"), certifies that it is indebted and for value received promises to <br />pay to the registered owner specified above, or registered assigns, unless called for earlier <br />redemption, in the manner hereinafter set forth, the principal amount specified above, on the <br />maturity date specified above, and to pay interest thereon semiannually on June 15 and <br />December 15 of each year (each, an "Interest Payment Date"), commencing June 15, 20031 at the <br />rate per annum specified above (calculated on the basis of a 360~day year of twelve 30-day <br />months) until the principal sum is paid or has been provided for. This Certificate will bear <br />interest from the most recent Interest Payment Date to which interest has been paid or, if no <br />interest has been paid, from the date of original issue hereof. The principal of and premium, if <br />any, on this Certificate are payable upon presentation and surrender hereof by the Administrator <br />of the City of Ramsey, Minnesota (the "Certificate Registrar"), acting as paying agent, or any <br />successor paying agent duly appointed by the Issuer. Interest on this Certificate will be paid on <br />each Interest Payment Date by check or draft mailed to the person in whose name this Certificate <br />is registered (the "Holder" or "Certificateholder") on the registration books of the Issuer <br />maintained by the Certificate Registrar and at the address appearing thereon at the close of <br />business on the fifteen day of the calendar month next preceding such Interest Payment Date (the <br />"Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person <br />who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who <br />is the Holder hereof at the close of business on a date (the "Special Record Date") fixed by the <br />Certificate Registrar whenever money becomes available for payment of the defaulted interest. <br />Notice of the Special Record Date shall be given to Certificateholders not less than ten days prior <br />to the Special Record Date. The principal of and premium, if any, and interest on this Certificate <br />are payable in lawful money of the United States of America. <br /> <br /> Redemption. All Certificates of this issue (the "Certificates") are subject to <br />redemption and prepayment at the option of the Issuer on any date at a price of par plus accrued <br /> <br />1479134vl 4 <br /> <br /> <br />