CC RES 96-042 RESOLUTION RELATING TO $1,720,000 GENERAL OBLIGTION TAXABLE TAX INCREMENT BONDS, SERIES 1996A; AUTHORIZING THE ISSUANCE, AWARDING THE SALE, FIXING THE FORM AND DETAILS, AND PROVIDING FOR THE EXECUION AND DELIVERY THEREOF AND THE SECURITY THE

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UNITED STATES OF AMERICA STATE OF MINNESOTA COUNTIES OF HENNEPIN AND RAMSEY CITY OF ST. ANTHONY GENERAL OBLIGATION TAXABLE TAX INCREMENT BOND, SERIES 1996A Date of Rate Maturity Original Issue CUSIP July 1, 1996 REGISTERED OWNER: PRINCIPAL AMOUNT: DOLLARS THE CITY OF ST. ANTHONY, Hennepin and Ramsey Counties, Minnesota (the "City"), acknowledges itself to be indebted and, for value received, hereby promises to pay to the registered owner above named, the principal amount indicated above, on the maturity date specified above, with interest thereon from the date of original issue set forth above at the annual rate specified above computed on the basis of the number of days elapsed in a 360-day year consisting of twelve 30- day months, payable on February 1 and August 1 in each year, commencing February 1, 1997, 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, are payable in lawful money of the United States of America by check or draft of American Bank National Association, in St. Paul, Minnesota, as Bond Registrar, Transfer Agent and Paying Agent (the "Bond Registrar"), or its successor designated under the Resolution described herein. This Bond is one of an issue in the aggregate principal amount of $1,720,000 all of like date and tenor except as to serial number, interest rate, redemption privilege and maturity date, issued pursuant to a resolution adopted by • the City Council on June 10, 1996 (the "Resolution") to finance a portion of the costs -3-