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<br />- , <br /> <br />. <br /> <br />the registration books of the Issuer maintained by the Bond <br />Registrar and at the address appearing thereon at the close of <br />business on the fifteenth day of the calendar month next <br />preceding such Interest Payment Date (the "Regular Record <br />Date"). Any interest not so timely paid shall cease to be <br />payable to the person who is the Holder hereof as of the <br />Regular Record Date. and shall be payable to the person who is <br />the Holder hereof at the close of business on a date (the <br />"Special Record Date") fixed by the Bond Registrar whenever <br />money becomes available for payment of the defaulted interest. <br />Notice of the Special Record Date shall be given to Bondholders <br />not less than ten days prior to the Special Record Date. The <br />principal of and premimn, if any, and interest on this Bond are <br />payable in lawful money of the United States of 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 City Clerk, the corporate seal of the Issuer <br />having been intentionally omitted as permitted by law. <br /> <br />. <br /> <br />6 <br />