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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 <br /> <br />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 appointed by the City. Interest on this Bond will be <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 />z~as2 <br />6 <br />