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[F orm of Certificate] UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ROSEVILLE GENERAL OBLIGATION EQUIPMENT CERTIFICATE OF INDEBTEDNESS (SERIES 1999) The City of Roseville, Minnesota, a du1y organized and existing municipal corporation in Ramsey County, Minnesota (the "City"), acknowledges itself to be indebted and for value received promises to pay to City of Roseville Debt Service Fund 524, the principal sum of $147,457 on March 1, 2000, with interest thereon from the date hereof at the annual rate of 7.00%, payable at maturity. 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 the City Finance Officer, Roseville, Minnesota, as Certificate Registrar. 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 to prepay the Certificate in whole or in part on any day. This Certificate is issued pursuant to a resolution adopted by the City Council on May 10, 1999 (the "Resolution"), for the purpose of providing money to defray expenses incurred or to be incurred in purchasing various items of capital equipment, pursuant to and in full conformity with the Constitution and laws of the State of Minnesota, including Minnesota Statutes, Section 412.301, and the principal hereof and interest hereon are payable from ad valorem taxes, as set forth in the Resolution to which reference is made for a full statement of rights and powers thereby conferred. The full faith and credit of the City are irrevocably pledged for payment of this Certificate and the City Council has obligated itself to levy additional ad valorem taxes on all taxable property in the City in the event of any deficiency, which taxes may be levied without limitation as to rate or amount. IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts, conditions 8.tJ.d things required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed preliminary to and in the issuance of this Certificate in order to make it a valid and binding general obligation of the City in accordance with its terms, have been done, do exist, have happened and have been performed as so required, and that the issuance of this Certificate does not cause the indebtedness of the City to exceed any constitutional or statutory limitation of indebtedness. 3