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No. R-I UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF ANOKA CITY OF CENTERVll..LE $780,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BOND, SERIES 2004A Rate Maturity Date of Original Issue CUSIP Aprill,2007 Aprill,2004 Registered Owner: Cede & Co. The City of Centerville, Minnesota, a duly organized and existing municipal corporation in Anoka County, Minnesota (City), acknowledges itself to be indebted and for value received hereby promises to pay to the Registered Owner specified above or registered assigns, the principal sum of $ on the maturity date specified above, with interest thereon from the date hereof at the annual rate specified above, payable April 1 and October 1 in each year, commencing October I, 2004, to the person in whose name this Bond is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable in lawful money of the United States of America by check or draft by U.S. Bank National Association, St. Paul, Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its designated successor under the Resolution described herein. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith and credit and taxing powers of the City have been and are hereby irrevocably pledged. The City may elect on April I, 2005 and on any day thereafter to prepay Bonds. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. Ifless than all Bonds of a maturity are called for redemption, the City will notify Depository Trust Company (DIC) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. The City Council has designated the issue of Bonds of which this Bond forms a part as "qualified tax exempt obligations" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the Code) relating to disallowance of interest expense for SJB.24476Qv1 CE155-22