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upward, bearing interest as above set forth, and which mature serially on February 1 without <br />option of prior payment in the years and amounts as follows: <br />Year Amount Year Amount <br />2011 2016 <br />2012 2017 <br />2013 2018 <br />2014 2019 <br />2015 2020 <br />$ of the Bonds (the "Improvement Refunding Bonds ") maturing in the amounts and on <br />the dates set forth below are being issued to refund the portion of the Refunded Bonds that financed <br />certain improvements pursuant to Minnesota Statutes, Chapter 429: <br />Year Amount Year Amount <br />2011 2016 <br />2012 2017 <br />2013 2018 <br />2014 2019 <br />2015 2020 <br />The remaining $ of the Bonds (the "Utility Revenue Refunding Bonds ") maturing in <br />the amounts and on the dates set forth below are being issued to refund the portion of the Refunded <br />Bonds that financed certain improvements under Minnesota Statutes, Chapter 444: <br />Year Amount Year Amount <br />2011 2016 <br />2012 2017 <br />2013 2018 <br />2014 2019 <br />2015 2020 <br />1.04. Term Bonds. To be completed if Term Bonds are requested by the Purchaser. <br />Section 2. Registration and Payment. <br />2.01. Registered Form. The Bonds will be issued only in fully registered form. The <br />interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by <br />check or draft issued by the Registrar described herein. <br />2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest <br />payment date preceding the date of authentication to which interest on the Bond has been paid or <br />367721v1 SJB LN140 -106 <br />-30- <br />• <br />• <br />• <br />