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IN WITNESS WHEREOF, the City of New Brighton, Ramsey County, Minnesota, by its City Council, has caused this Bond to be executed on its behalf by the facsimile signatures of the Mayor and City Manager and has caused this Bond to be dated as of the date set forth below. Dated: November 1, 1992 CITY OF NEW BRIGHTON, MINNESOTA ( Facsimile) City Manager Mayor- ( Facsimile) CERTIFICATE OF AUTHENTICATION This is one of the Bonds delivered pursuant to the Resolution mentioned within. By Authorized Representative [Reverse of the Bond] This Bond is one of an issue in the aggregate principal amount of $5,060,000 all of like original issue date and tenor, except as to number, maturity date, and interest rate, all issued pursuant to a resolution adopted by the City Council on September 29, 1992 (the Resolution), for the pur-pose of providing money to refund in advance of maturity and on the Redemption Date, as defined in the Resolution, a portion of certain general obligation bonds of the City, pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Sections 475.67, Subdivision 13 and Chapter 475. The interest hereon is payable until the Redemption Date, primarily out of the Escrow Account and Debt Service Account in the City's Refunding Bonds, Series 1992D Debt Service Fund and after the Redemption Date from tax increments resulting from increases in the taxable value of real property in certain tax increment financing districts in the City, as set forth in the Resolution to which reference is made for a full statement of r-ights and powers thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of this Bond and the City Council has obligated itself to levy ad valorem taxes on all taxable property in the City in the event of any deficiency in tax increments pledged, which taxes may be levied without limitation as to rate or amount. The Bonds of this series are issued only as fully registered Bonds in denominations of $5,000 or any integral multiple thereof of single matu- rities . As provided in the Resolution and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner hereof in person or by the owner's attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or the owner's attorney; and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange the SJll41117 NE136-97