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Redemption. The Bonds of this issue are not subject to <br />optional redemption and prepayment prior to their respective <br />stated maturity dates. <br /> <br /> [The following paragraph applies only if Bonds are subject <br />to mandatory sinking fund redemption.] <br /> <br /> Selection of Bonds for Redemption~ Partial Redemption. <br />To effect a mandatory sinking fund redemption of Bonds having a <br />common maturity date, the Bond Registrar shall assign to each <br />Bond of that maturity a distinctive number for each $5,000 of the <br />principal amount of such Bond. The Bond Registrar shall then <br />select by lot, using such method of selection as it shall deem <br />proper in its discretion, from the numbers assigned to the Bonds, <br />as many numbers as, at $5,000 for each number, shall equal the <br />principal amount of such Bonds to be redeemed. The Bonds to be <br />redeemed shall be the Bonds to which were assigned numbers so <br />selected; provided, however, that only so much of the principal <br />amount of such Bond of a denomination of more than $5,000 shall <br />be redeemed as shall equal $5,000 for each number assigned to it <br />and so selected. If a Bond is to be redeemed only in part, it <br />shall be surrendered to the Bond Registrar (with, if the City or <br />Bond Registrar so requires, a written instrument of transfer in <br />form satisfactory to the City or Bond Registrar duly executed by <br />the registered owner thereof or the registered owner's attorney <br />duly authorized in writing), and the City shall execute (if <br />necessary) and the Bond Registrar shall authenticate and deliver <br />to the registered owner of such Bond, without service charge, a <br />new Bond or Bonds of the same series having the same stated <br />maturity and interest rate and of any authorized denomination or <br />denominations, as requested by such registered owner, in <br />aggregate principal amount equal to and in exchange for the <br />unredeemed portion of the principal of the Bond so surrendered. <br /> <br /> Issuance; Purpose; General Obliqation. This Bond is <br />one of an issue in the total principal amount of $ , <br />all of like date of original issue and tenor, except as to <br />registration number, maturity, interest rate, denomination and <br />redemption privilege, which Bond has been issued pursuant to and <br />in full conformity with the Home Rule Charter of the City and the <br />Constitution and laws of the State of Minnesota and pursuant to a <br />certain resolution adopted by the City Council (the "Resolution") <br />for the purpose of providing money to finance certain costs of <br />refunding certain prior bonded indebtedness of the City. This <br />Bond constitutes a general obligation of the City, and to provide <br />moneys for the prompt and full payment of its principal, premium, <br />if any, and interest when the same become due, the full faith and <br />credit and taxing powers of the City have been and are hereby <br />irrevocably pledged. <br /> <br />[For Bonds in Book Entry Only Form, the following paragraph shall <br />be added, and this Bond form (1) may be rearranged so that the <br />signature blocks hereof appear at the end of the main text of <br /> <br />1079939.2 12 <br /> <br /> <br />