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ON REVERSE OF BOND <br /> <br /> Redemption. Ail Bonds maturin9 after February 1, 2005, <br />are subject to redemption and prepayment at the option of the <br />City on said date and on any date thereafter at a price of par <br />plus accrued interest. Redemption may be in whole or in part of <br />the Bonds subject to prepayment. If redemption is in part, the <br />City shall determine the amount of Bonds of each maturity to be <br />prepaid; and if only part of the Bonds havin9 a common maturity <br />date are called for prepayment, the specific Bonds to be prepaid <br />shall be chosen by lot by the Bond Registrar. Bonds or portions <br />thereof called for redemption shall be due and payable on the <br />redemption date, and interest thereon shall cease to accrue from <br />and after the redemption date. Published notice of redemption <br />shall be ~iven if and to the extent required by applicable law, <br />and mailed notice of redemption shall be given to the paying <br />agent and to each affected Holder of the Bonds. <br /> <br /> Selection of Bonds for Redemption; Partial Redemption. <br />To effect a partial redemption of Bonds having a common maturity <br />date, the Bond Registrar shall assign to each Bond having a <br />common maturity date 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 and Bond Registrar duly executed by <br />the Holder thereof or the Holder's attorney duly authorized in <br />writing), and the City shall execute and the Bond Registrar shall <br />authenticate and deliver to the Holder of such Bond, without <br />service charge, a new Bond or Bonds of the same series havin~ the <br />same stated maturity and interest rate and of any authorized <br />denomination or denominations, as requested by such Holder, in <br />a~regate 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 Obligation. This Bond is <br />one of an issue in the total principal amount of $900,000, all of <br />like date of original issue and tenor, except as to registration <br />number, maturity, interest rate, denomination and redemption <br />privilege, which Bond has been issued pursuant to and in full <br />conformity with the Constitution and laws of the State of <br />Minnesota and pursuant to a certain resolution adopted by the <br />City Council (the "Resolution") for the purpose of providing <br />money to finance certain costs of refunding certain prior bonded <br />indebtedness of the City. This Bond constitutes a general <br />obligation of the City, and to provide moneys for the prompt and <br /> <br /> <br />