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N <br />sinking fund redemption on any date may be reduced through earlier optional redemptions, with any <br />partial redemptions of the Term Bonds credited against future mandatory sinking fund redemptions <br />of such Term Bonds in such order as the City shall determine. The Term Bonds are subject to <br />mandatory sinking fund redemption and shall be redeemed in part by lot at par plus accrued interest <br />on the sinking fund installment dates and in the principal amounts as follows: <br />Sinking Fund Installation Date Principal Amount <br />Febraary 1, 2033 Tenn Bonds <br />2032 $190,000 <br />2033 (maturity) 190,000 <br />Sinking Fund Installation Date Principal Amount <br />February 1, 2035 Term Bonds <br />2034 $195,000 <br />2035 (maturity) 200,000 <br />Sinking Fund Installation Date Principal Amount <br />FebiuM 1, 2037 Term Bonds <br />2036 $200,000 <br />2037 (maturity) 205,000 <br />Sinking Fund Installation Date Principal Amount <br />February 1, 2039 Tern Bonds <br />2038 $210,000 <br />2039 (maturity) 215,000 <br />Sinking, Fund Installation Date Principal Amount <br />February 1.2041 Term Bonds <br />2040 $220,000 <br />2041 (maturity) 220,000 <br />This Bond is one of an issue in the aggregate principal amount of $4,805,000, all of like <br />original issue date and tenor, except as to number, maturity date, interest rate, denomination and <br />redemption privilege, all issued pursuant to a resolution adopted by the City Council on April 19, <br />2021 (the "Resolution"), for the purpose of providing monies in part for the construction of various <br />capital improvements to City facilities as outlined in the City's 2020-2025 Five -Year Capital <br />Improvement Plan, and the acquisition of capital equipment and pursuant to and in full conformity <br />the Constitution, and the laws of the State of Minnesota, including Minnesota Statutes, Section <br />412.301 and Minnesota Statutes, Chapters 475. The principal hereof and the interest hereon are <br />payable from ad valorem taxes, as set forth in the Resolution to which reference is made for a full <br />statement of rights and powers thereby conferred. The full faith and credit of the City are irrevocably <br />EL 185-65-708496.v2 B-2 <br />