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<br />. <br /> <br />appearing thereon at the close of business on the fifteenth day <br />of the calendar month next preceding such Interest Payment Date <br />(the "Regular Record Date"). Any interest not so timely paid <br />shall cease to be payable to the person who is the Holder <br />hereof as of the Regular Record Date, and shall be payable to <br />the person who is the Holder hereof at the close of business on <br />a date (the "Special Record Date") fixed by the Bond Registrar <br />whenever money becomes available for payment of the defaulted <br />interest. Notice of the Special Record Date shall be given to <br />Bondholders not less than ten days prior to the Special Record <br />Date. The principal of and premium, if any, and interest on <br />this Bond are payable in lawful money of the United States of <br />America. <br /> <br />REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF <br />THIS BOND SET FORTH ON THE REVERSE HEREOF, WHICH PROVISIONS <br />SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH <br />HERE, <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that all acts, <br />conditions and things required by the Constitution and laws of <br />the State of Minnesota- to be done, to happen and to be <br />performed, precedent to and in the issuance of this Bond, have <br />been done, have happened and have been performed, in regular <br />and due form, time and manner as required by law, and this <br />Bond, together with all other debts of the Issuer outstanding <br />on the date of original issue hereof and the date of its <br />issuance and delivery to the original purchaser does not exceed <br />any constitutional or statutory limitation of indebtedness. <br /> <br />IN WITNESS WHEREOF, the City of Arden Hills, Ramsey <br />County, Minnesota, by its City Council has caused this Bond to <br />be executed in its behalf by the facsimile signatures of the <br />Mayor and the Clerk; the corporate seal of the Issuer having <br />been intentionally omitted as permitted by law. <br /> <br />. <br /> <br />6 <br />