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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
<br />book -entry only system pursuant to the Resolution, Bonds may only he registered in the name of
<br />the Depository or its Nominee.
<br />Optional Redemption. The Bonds of this issue (the "Bonds ") maturing on February 1,
<br />2024, and thereafter, are subject to redemption and prepayment at the option of the Issuer on
<br />February 1, 2023, and on any date thereafter at a price of par plus accrued interest. Redemption
<br />may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the
<br />maturities and the principal amounts within each maturity to be redeemed shall be determined by
<br />the Issuer; and if only part of the Bonds having a common maturity date are called for
<br />prepayment, the specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar.
<br />Bonds or portions thereof called for redemption shall be due and payable on the redemption date,
<br />and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of
<br />redemption shall be given to the paying agent and to each affected Holder of the Bonds prior to
<br />the date fixed for redemption.
<br />Selection of Bonds for Redemption; Partial Redemption. To effect a partial redemption
<br />of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a
<br />common maturity date a distinctive number for each $5,000 of the principal amount of such
<br />Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall
<br />deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at
<br />$5,000 for each number, shall equal the principal amount of the Bonds to be redeemed. The
<br />Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided,
<br />however, that only so much of the principal amount of such Bond of a denomination of more
<br />than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so
<br />selected. If a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar
<br />(with, if the Issuer or Bond Registrar so requires, a written instrument of transfer in form
<br />satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof or the Holder's
<br />attorney duly authorized in writing) and the Issuer shall execute (if necessary) and the Bond
<br />Registrar shall authenticate and deliver to the Holder of the Bond, without service charge, a new
<br />Bond or Bonds having the same stated maturity and interest rate and of any Authorized
<br />Denomination or Denominations, as requested by the Holder, in aggregate principal amount
<br />equal to and in exchange for the unredeemed portion of the principal of the Bond so surrendered.
<br />Issuance; Purpose; General Obligation. This Bond is one of an issue in the total principal
<br />amount of $2,570,000, all of like date of original issue and tenor, except as to number, maturity,
<br />interest rate and denomination, issued pursuant to and in full conformity with the City Charter,
<br />the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by the
<br />City Council on February 12, 2014 (the "Resolution "), to finance the acquisition and betterment
<br />of a public works facility, as provided in the City's Capital Improvement Plan. This Bond is
<br />payable out of the General Obligation Capital Improvement Plan Bonds, Series 2014A Fund of
<br />the Issuer. This Bond constitutes a general obligation of the Issuer, and to provide moneys for
<br />the prompt and full payment of its principal, premium, if any, and interest when the same
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