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<br />[Face of the Bond] <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />GENERAL OBLIGATION CAP IT AL IMPROVEMENT <br />REFUNDING BOND, SERIES 1992C <br /> <br />Rate <br /> <br />Maturity <br /> <br />Date of <br />Orijitinal Issue <br /> <br />CUSIP <br /> <br />November 1, 1992 <br /> <br />No. <br /> <br />$ <br /> <br />The City of New Brighton, Minnesota, a duly organized and existing municipal <br />corporation in Ramsey County, Minnesota (City), acknowledges itself to be indebted <br />and for value received promises to pay to <br /> <br />or registered assigns, the principal sum of $ on the maturity date <br />specified above without option of prior payment, with interest thereon from the date <br />hereof at the annual rate specified above, payable February 1 and August 1 in each <br />year, commencing August 1,1993, to the person in whose name this Bond is regis- <br />tered at the close of business on the fifteenth day (whether or not a business day) <br />of the immediately preceding month. The interest hereon and, upon presentation <br />and surrender hereof, the principal hereof are payable in lawful money of the United <br />States of America by check or draft by , <br />Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating <br />Agent, or its designated successor under the Resolution described herein. For the <br />prompt and full payment of such principal and interest as the same respectively <br />become due, the full faith and e' -.,dit and taxing powers of the City have been and <br />are hereby irrevocably pledged. <br /> <br />The City Council has designated the Bonds as "qualified tax exempt obliga- <br />tions" within the meaning of Section 265 (b) (3) of the Internal Revenue Code of 1986, <br />as amended (the Code) relating to disallowance of interest expense for financial <br />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 <br />such provisions for all purposes have the same effect as though fully set forth in <br />this place. <br /> <br />This Bond is not valid or obligatory for any purpose or entitled to any <br />security or benefit under the Resolution until the Certificate of Authentication <br /> <br />SJl\41102 <br />NE136-97 <br />