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ate Maturity Original Issue CUSIP October I, 2004 egistered Owner: Cede & Co. The City of New Brighton, Minnesota, a duly organized and existing municipal corporation Ramsey County, Minnesota (City), acknowledges itself to be indebted and for value received ereby promises to pay to the Registered Owner specified above or registered assigns, the principal urn of $ on the maturity date specified above, with interest thereon from the date ereof at the annual rate specified above, payable February 1 and August I in each year, ommencing August 1, 2005, to the person in whose name this Bond is registered at the close of usiness on the fifteenth day (whether or not a business day) of the immediately preceding month. he interest hereon and, upon presentation and surrender hereof, the principal hereof are payable lawful money of the United States of America by check or draft by Wells Fargo Bank, National ssociation, Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating gent, or its designated successor under the Resolution described herein. For the prompt and full ayment of such principal and interest as the same respectively become due, the full faith and redit and taxing powers of the City have been and are hereby irrevocably pledged. .04. Optional Redemption. The City may elect on February 1,2012, and on any day thereafter o prepay Bonds due on or after February 1,2013. Redemption may be in whole or in part and if part, at the option of the City and in such manner as the City will determine. If less than all onds of a maturity are called for redemption, the City will notify Depository Trust Company DTC) of the particular amount of such maturity to be prepaid. DTC will determine by lot the ount of each participant's interest in such maturity to be redeemed and each participant will then elect by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will e at a price of par plus accrued interest. I ! The City Council has designated the issue of Bonds of which this Bond forms a part as ! 'qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Internal I evenue Code of 1986, as amended (the Code) relating to disallowance of interest expense for I mancial institutions and within the $10 million limit allowed by the Code for the calendar year of Issue. i This Bond is one of an issue in the aggregate principal amount of $ all of like riginal issue date and tenor, except as to number, maturity date, redemption privilege, and interest ate, all issued pursuant to a resolution adopted by the City Council on September 28, 2004 (the esolution), for the purpose of providing money to aid in financing the public development costs S18-252 NE 136-1 : I I', H 1'1 ~ ' I