Resolution - #92-01-005 - 01/14/1992

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or registered assigns, the principal sum of $ on the maturity date specified above, with interest thereon from the date hereof at the annual late specified above, payable February 1 and Au~st 1 in each year, commencing August 1, 1992, to the person in whose name this Bond is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. The interest hereon and, upon presentation and surrender he~eof, the principal hereof are payable in lawful money of the United States of America by check or draft by , Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its designated successor under the Resolution described herein. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith and credit and taxing powers of the City have been and are hereby irrevo- cably pledged. The City may elect on February 1, 1994, and on any date the~.fter, to prepay Bonds of this issue. Redemption may be in whole or in part of the Bonds subject to prepayment. If only part of the Bonds are called for prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. Prepayments will be at a price of par plus accrued interest. The City Council has designated the Bonds as "qualified tax exempt obliga- tions'' within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the Code) relating to disallowance of interest expense for finaneia! institutions and within the $10 million limit allowed by the Code for the calendar year of issue. Additional provisions of this Bond are contained on the reverse hereof and those provisions have the same effect as though fully set forth in this place. This Bond will not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution until the Certificate of Authentication hereon has been executed by the Bond Registrar by manual signature of one of its authorized representatives. IN WITNESS WHEREOF, the City of Ramsey, Anoka County, Minnesota, by its City Council, ham caused this Bond to be executed on its b~ha]f by the facsimile signatures of the Mayor and City Administrator and has caused this Bond to be dated as of the date set forth below. Dated: CITY OF RAMSEY, MINNESOTA (Facsimile) City Administrator (Facsimile) Mayor CERTIFICATE OF AUTHENTICATION This is one of the within. 8nG27508 Rlk~25-32 Bonds delivered pursuant to the Resolution mentioned [Reverse of the Bond]