RES 85-054 RESOLUTION RELATING TO $2,125,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1985B; AWARDING THE SALE, FIXING THE FORM AND DETAILS, PROVIDING FOR THE EXECUTION THEREOF AND THE SECURITY THEREFOR AND LEVYING AD VALOREM TAXES FOR THE PAYMENT T

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w [Face of the Bonds] UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTIES OF RAMSEY AND HENNEPIN CITY OF ST. ANTHONY GENERAL OBLIGATION TAX INCREMENT BOND SERIES 1985B No . $ Date of Rate Maturity Original Issue CUSIP REGISTERED December 1 , 1985 SEE REVERSE OWNER FOR CERTAIN DEFINITIONS PRINCIPAL DOLLARS AMOUNT THE CITY OF ST . ANTHONY, Ramsey and Hennepin Counties , Minnesota (the City) , acknowledges itself to be indebted and, for value received, hereby promises to pay to the registered owner named above, or registered assigns , the principal sum specified above, on the maturity date specified above, with interest thereon from the date hereof at the annual rate specified above, payable on February 1 and August 1 in each year , commencing August 1 , 1986 , to the person in whose name this Bond is registered at the close of business on the 15th day (whether or not a business day) of the immediately preceding month, all subject to the provisions referred to herein with respect to the redemption of the principal of this Bond before maturity. The interest hereon and, upon presentation and surrender hereof , the principal hereof and premium, if any, hereon are payable in lawful money of the United States of America by check or draft of , in as Bond Registrar , Transfer Agent and Paying Agent (the Bond Registrar) , or its successor designated under the Resolution described herein. Additional provisions of this Bond are contained on the reverse hereof and such provisions shall for all purposes have the same effect as though fully set forth hereon. • This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Resolution until the Certificate of Authentication hereon shall -7-