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12831294v1 <br /> <br /> 8 <br /> <br />UNITED STATES OF AMERICA <br />STATE OF MINNESOTA <br />WASHINGTON COUNTY <br />CITY OF HUGO <br />R-__ $_________ <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BOND, SERIES 2020A <br /> <br />Interest Rate Maturity Date Date of Original <br />Issue <br />CUSIP <br /> <br />____% February 1, 20___ November 5, 2020 ___________ <br /> <br />REGISTERED OWNER: CEDE & CO. <br />PRINCIPAL AMOUNT: _________________________________________ DOLLARS <br />The City of Hugo, Washington County, Minnesota (the "Issuer"), certifies that it is <br />indebted and for value received promises to pay to the registered owner specified above, or <br />registered assigns, in the manner hereinafter set forth, the principal amount specified above, on <br />the maturity date specified above, unless called for prepayment, and to pay interest thereon <br />semiannually on February 1 and August 1 of each year (each, an "Interest Payment Date"), <br />commencing August 1, 2021, at the rate per annum specified above (calculated on the basis of a <br />360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. <br />This Bond will bear interest from the most recent Interest Payment Date to which interest has <br />been paid or, if no interest has been paid, from the date of original issue hereof. The principal of <br />and premium, if any, on this Bond are payable upon presentation and surrender hereof at the <br />principal office of U.S. Bank National Association, in St. Paul, Minnesota (the "Bond <br />Registrar"), acting as paying agent, or any successor paying agent duly appointed by the Issuer. <br />Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the <br />person in whose name this Bond is registered (the "Holder" or "Bondholder") on the registration <br />books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the <br />close of business on the fifteenth day of the calendar month next preceding such Interest <br />Payment Date (the "Regular Record Date"). Any interest not so timely paid shall cease to be <br />payable to the person who is the Holder hereof as of the Regular Record Date, and shall be <br />payable to the person who is the Holder hereof at the close of business on a date (the "Special <br />Record Date") fixed by the Bond Registrar whenever money becomes available for payment of <br />the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less <br />than ten days prior to the Special Record Date. The principal of and premium, if any, and <br />interest on this Bond are payable in lawful money of the United States of America. So long as <br />this Bond is registered in the name of the Depository or its Nominee as provided in the <br />Resolution hereinafter described, and as those terms are defined therein, payment of principal of, <br />premium, if any, and interest on this Bond and notice with respect thereto shall be made as <br />provided in the Letter of Representations, as defined in the Resolution. Until termination of the