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72 <br /> <br />(Form of Series 2005A Bond) <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF ANOKA <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF RAlVfSEY, MINNESOTA <br /> <br />No. R- $ <br /> <br />Public Project Lease Revenue Bond, Series 2005A <br />(City of Ramsey, Minnesota Lease Obligation) <br /> <br />Interest~ Rate MatufiW Date Date of Original Issue <br /> °,4 December 15 June 1, 2005 <br /> <br />CUSIP <br /> <br />REGISTERED OWNER: CEDE & CO. <br /> <br />PRI-NCIP AL AMOUNT: <br /> <br /> The Economic Development Authority of the City of Ramsey, Minnesota, a public body <br />politic mad corporate of the State of Minnesota (the "Issuer"), for value received, hereby <br />promises to pay from its Public Project Lease Revenue Bond Fund to the registered owner <br />named above, or registered assigns, the principal sum stated above on the maturity date specified <br />above (unless subject to and duly called for earlier redemption) upon the presentation and <br />surrender hereof and to pay to the registered owner hereof interest, on such principal sum, until <br />paid, from such Fund at the interest rate specified above from the Date of Original Issue <br />specified above, or from the most recent Interest Payment Date to which interest has been paid or <br />duly provided for, as specified below, semiannually on each June 15 and December 15 <br />commencing June 15, 2006 (each, an "Interest Payment Date"). Principal and interest are <br />payable in lawful money of the United States of America by U.S. Bank National Association, in <br />St. Paul, Minnesota, or its successor as Trustee under the Indenture hereinafter described. <br />Interest shall be based.on a 360-day year corg. isfing of twelve months of thirty days each and <br />shall be paid on each Interest Payment Date by check or draft mailed to the person in whose <br />name this Bond is registered (the "Holder") at the close of business on the first day (whether or <br />not a Business Day) of the calendar month of such Interest Payment Date at the address set forth <br />on the registration books maintained by the Trustee, as registrar for the Bonds. Any such interest <br />not punctually paid or provided for will cease to be payable on such regular record dates and <br />such defaulted interest shall be paid to the person in whose name this Bond shall be registered at <br />the close of business on a special record date for the payment of such defaulted interest <br />established by the Trustee pursuant to the Indenture. Each capitalized term which is used but not <br />otherwise defined in this Bond shall have the me ~aning given to that term pursuant to the <br />Indenture. <br /> <br /> So long as this Bond is immobilized in global:book-entry form registered in the name of <br />the nominee of DTC, as defined in the Indenture; payments of principal of, premium, if any, and <br />interest on this Bond shall be made as provided in the Representation Letter, as defined in the <br /> <br />1763903v I 2 <br /> <br /> <br />