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• MFIY 21 1999 1©~ 49 FR L. S. ~ D 6512227644 TO 35~4tt6429tt3tt9165 P. ©4<'19 Section 2. Bond_T_erms: Regi tration_ Execution and I3eliverv. 2.01. Issuance of Bonds. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist, to happen and to be performed precedent to and in the valid issuance of the Bonds having been done, now existing, having happened and having been performed, it is now necessary for the City Coeuicil to establish the form and terms of the Bonds, to provide security therefor and to issue the Bonds forthwith. 2.02. Maturities: Interest Rates: Denominations: and Pavmerrt. The Bonds shall be designated as General Obligation Improvement Bonds, Series 1999A, shall be originally dated as of June 1, 1999, shall be in denominations of $5,000 or any integral multiple thereof, of single maturities, shall mature on February 1 in the years and amounts stated below, and shall beaz interest from date of issue until paid or duly called for redemption at the annual rates set forth opposite such years aad amounts, as follows: Year punt Interest Rate Year Amount Interest Rate 2001 $175,000 2006 IS0,000 2002 185,000 2007 155,000 2003 135,040 2008 160,000 2004 135,000 2009 165,000 2005 145,000 2010 175,000 'The Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Bond ai the principal office of the Registrar described hereia, the principal amount thereof, shall be payable by check or draft issued by the Registrar described herein. 2.03. Dates and Interest Payment Dates. Each Bond shall be dated by the Registraz on the date of its authentication and delivery. The date inserted on each bond shall be the last interest payment date to which interest has been paid, or if no interest has been paid, ~ une 1, 1999. The interest on the Bonds shall be payable on February 1 and August 1 in each ycaz, commencing February 1, 2000, to the owner of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 2.04. Redemption. (a) The Bonds maturing an aad after February 1, 2007 shall be subject to redemption in advance of their respective stated maturity dates beginting on February 1, 2006 and on any date thereafter in whole or in part at a redemption price of paz plus accrued interest. If redemption is in part, the Lssuer may select the maturities, or portions thereof, to be redeemed. Bonds shall be selected for redemption by lot within a maturity. (b) If Bonds are to be redeemed prior to their stated maturity, the issuer shall give, or cause the Registrar (defined below) to give notice of redemption_ • i~s6se~.o~