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<br />hereof are payable in lawful money of the United States of America by check or draft by U.S. <br />Bank Trust National Association, S1. Paul, Minnesota, as Bond Registrar, Paying Agent, Transfer <br />Agent and Authenticating Agent, or its designated successor under the Resolution described <br />herein. For the prompt and full payment of such principal and interest as the same respectively <br />become due, the full faith and credit and taxing powers of the City have been and are hereby <br />irrevocably pledged. <br /> <br />The City may elect on February 1, 2006, and on any day thereafter to prepay Bonds due <br />on or after February 1, 2007. Redemption may be in whole or in part and if in pan, at the option <br />of the City and in such manner as the City will detennine. If less than all Bonds of a maturity are <br />called for redemption, the City will notify Depository Trust Company (DTC) of the particular <br />amount of such maturity to be prepaid. DTC will determine by lot the amount of each <br />participant's interest in such maturity to be redeemed and each participant will then select by lot <br />the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a <br />price of par plus accrued interest. <br /> <br />The City Council has designated the issue of Bonds of which this Bond forms a part as <br />"qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the futernal <br />Revenue Code of 1986, as amended (the Code) relating to disallowance of interest expense for <br />['mancial institutions and within the $10 million limit allowed by the Code for the calendar year <br />of issue. <br /> <br />Additional proVISIOns of this Bond are contained on the reverse hereof and such <br />provisions for all purposes have the same effect as though fully set forth in this place. <br /> <br />This Bond is not valid or obligatory for any purpose or entitled to any security or benefit <br />under the Resolution until the Certificate of Authentication hereon has been executed by the <br />Bond Registrar by manual signature of one of its authorized representatives. <br /> <br />IN WITNESS WHEREOF, the City of New Brighton, Ramsey County, Minnesota, by its <br />City Council, has caused this Bond to be executed on its behalf by the facsimile or manual <br />signatures of the Mayor and City Finance Director/Clerk and has caused this Bond to be dated as <br />of the date set forth below. <br /> <br />Dated: <br /> <br />CITY OF NEW BRIGHTON, <br />MINNESOTA <br /> <br />(Facsimile) <br />City Finance Director/Clerk <br /> <br />(Facsimile) <br /> <br />Mayor <br /> <br />DJK-164783 <br />NE136-149 <br />