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3.01. The Bonds will be printed or typewritten in substantially the following form: Face of the Bond UNITED STATES OF AMERICA ST A TE OF MINNESOTA COUNTY OF RAMSEY CITY OF ROSEVILLE GENERAL OBLIGATION REFUNDING IMPROVEMENT BOND, SERIES 1994 Rate Maturity Date of Orie;inal Issue CUSIP February 10, 1994 No. $ Registered Owner: KrsLY & Co. The City of Rose,ville, Minnesota, a duly organized and existing municipal corporation in Ramsey County, Minnesota (City) , acknowledges itself to be indebted and for value received promises to pay to Kray & Co. 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 March 1 and September 1 in each year, commencing September 1, 1994, to the person in whose name this Bond is registered at the close of business on the fiftelmth 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 , 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 andl taxing powers of the City have been and are hereby irrevo- cably pledged. The City may e}¡¡:¡ct on March 1, 2000 and on any day thereafter to prepay Bonds maturing on or nfter March 1, 2001. Redemption may be in whole or in part of the Bonds subject to prepayment. If less than aU Bonds of a maturity are caUed for redemption, the City will notüy MSTC (as hereinafter defined) of the particular amount of the maturity to be prepaid. MSTC will determine by lot the amount of each participant's interest in the maturity to be redeemed, and each participant will then select by lot the beneficial ownership interest in the maturity to be redeemed. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are caUed for prepaymf:mt the specific Bonds to be prepaid will be chosen by lot by the Registrar. All payments will be at a price of par plus accrued interest. DJK63776 Nl2oo-13 6