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UNITED STATES OF AMERICA <br /> STATE OF MINNESOTA <br /> COUNTY OF RAMSEY <br /> CITY OF MOUNDS VIEW <br /> R- $ <br /> GROSS REVENUE GOLF COURSE <br /> BOND, SERIES 1994A <br /> INTEREST MATURITY DATE OF <br /> RATE DATE ORIGINAL ISSUE CUSIP <br /> REGISTERED OWNER: <br /> PRINCIPAL AMOUNT: DOLLARS <br /> The City of Mounds View, Ramsey County, Minnesota (the <br /> "City") , hereby acknowledges itself to be indebted and, for value <br /> received, promises to pay to the registered owner specified <br /> above, or registered assigns, from the sources and in the manner <br /> hereinafter described, the principal amount specified above on <br /> the maturity date specified above, unless duly called for earlier <br /> redemption, and to pay interest thereon semiannually on January 1 <br /> and July 1 of each year (each, an "Interest Payment Date") , <br /> commencing July 1, 1994, at the rate per annum specified above <br /> (calculated on the basis of a 360-day year consisting of twelve <br /> 30-day months) until the principal sum is paid or has been <br /> provided for. This Bond will bear interest from the most recent <br /> Interest Payment Date to which interest has been paid or, if no <br /> interest has been paid, from the date of original issue hereof. <br /> The principal of and premium, if any, on this Bond are payable <br /> upon presentation and surrender hereof at the principal office of <br /> , in <br /> (the "Bond Registrar") , acting as <br /> paying agent, or at the principal office of any successor paying <br /> agent duly appointedbythe City. Intereston-this-Bond-willbe -- <br /> paid on each Interest Payment Date by check or draft mailed to <br /> the person in whose name this Bond is registered (the "Registered <br /> Owner") on the registration books of the City maintained by the <br /> Bond Registrar and at the address appearing thereon at the close <br /> of business on the fifteenth day of the calendar month preceding <br /> such Interest Payment Date (the "Regular Record Date") . Any <br /> interest not so timely paid shall cease to be payable to the <br /> person who is the Registered Owner hereof as of the Regular <br /> Record Date, and shall be payable to the person who is the <br /> 244882 <br /> 6 <br />