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need not be signed by the same representative. The executed certificate of authentication on a <br />Bond is conclusive evidence that it has been authenticated and delivered under this Resolution. <br />When the Bonds have been so prepared, executed and authenticated, the City Clerk will deliver <br />the same to the Purchaser upon payment of the purchase price in accordance with the contract of <br />sale heretofore made and executed, and the Purchaser is not obligated to see to the application of <br />the purchase price. <br />3.06. Temporary Bond. The City may elect to deliver in lieu of a printed definitive <br />Bond a typewritten temporary Bond in substantially the form set forth in Section 3. Upon the <br />execution and delivery of the definitive Bond the temporary Bond will be exchanged therefor <br />and cancelled. <br />Section 4. Form of Bond. <br />4.01. Execution of the Bonds. The Bond will be printed or typewritten in substantially <br />the following form: <br />No. R- <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF GEM LAKE <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT <br />PLAN BOND, SERIES 2007A <br />Date of <br />Rate Maturi Original Issue CUSIP <br />February 1, 20_ June 20, 2007 <br />Registered Owner: Cede & Co. <br />The City of Gem Lake, Minnesota, a duly organized and existing municipal corporation <br />in Ramsey County, Minnesota (the "City"), acknowledges itself to be indebted and for value <br />received hereby promises to pay to the Registered Owner specified above, or registered assigns, <br />the principal sum of $ on the maturity date specified above, payable February 1 and <br />August 1 in each year, commencing February 1, 2008, to the person in whose name this Bond is <br />registered at the close of business on the fifteenth day (whether or not a business day) of the <br />immediately preceding month. The interest hereon and, upon presentation and surrender hereof, <br />the principal hereof are payable in lawful money of the United States of America by check or <br />draft by Bond Trust Services Corporation, Roseville, Minnesota, as Bond Registrar, Paying <br />Agent, Transfer Agent and Authenticating Agent, or its designated successor under the <br />Resolution described herein. For the prompt and full payment of such principal and interest as <br />310976vI MNI GE190-4 7 <br />