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• <br /> without service charge, a new Bond or Bonds of the same series <br /> having the same stated maturity and interest rate and of any <br /> authorized denomination or denominations, as requested by such <br /> registered owner, in aggregate principal amount equal to and in <br /> exchange for the unredeemed portion of the principal of the Bond so <br /> surrendered. <br /> Issuance: Purpose: General Obligation. This Bond is one of an <br /> issue in the total principal amount of $ , all of like <br /> date of original issue and tenor, except as to registration number, <br /> maturity, interest rate, denomination and redemption privilege, <br /> which Bonds have been issued pursuant to and in full conformity <br /> with the Constitution and laws of the State of Minnesota, including <br /> Minnesota Statutes, Section 475.67, Subdivision 13, and pursuant to <br /> a resolution adopted by the City Council, the governing body of the <br /> City, on May 10, 1993 (the "Resolution") , for the primary purpose <br /> of providing moneys, together with other available funds of the <br /> City, sufficient to prepay on February 1, 2000, those bonds of the <br /> City's General Obligation Water Revenue Bonds, Series 1991A, dated <br /> May 1, 1991, which mature on February 1, 2001, and thereafter. <br /> This Bond constitutes a general obligation of the City, and to <br /> provide moneys for the prompt and full payment of the principal of <br /> and interest on all of the Bonds, when the same become due, the <br /> full faith and credit and taxing powers of the City have been and <br /> are hereby irrevocably pledged. <br /> Denominations; Exchange: Resolution. The Bonds are issuable <br /> solely as fully registered bonds in the denominations of $5, 000 and <br /> integral multiples thereof of a single maturity and are <br /> exchangeable for fully registered Bonds of other authorized <br /> denominations of $5,000 and integral multiples thereof of a single <br /> maturity and are exchangeable for fully registered Bonds of other <br /> authorized denominations in equal aggregate principal amounts at <br /> the principal office of the Bond Registrar, but only in the manner <br /> and subject to the limitations provided in the Resolution. <br /> Reference is hereby made to the Resolution for a description of the <br /> rights and duties of the Bond Registrar. Copies of the Resolution <br /> are on file in the principal office of the Bond Registrar. <br /> Transfer. This Bond is transferable by the Holder in person <br /> or by the Holder's attorney duly authorized in writing at the <br /> principal office of the Bond Registrar upon presentation and <br /> surrender hereof to the Bond Registrar, all subject to the terms <br /> and conditions provided in the Resolution and to reasonable <br /> regulations of the City contained in any agreement with the Bond <br /> Registrar. Thereupon the City shall execute, and the Bond <br /> Registrar shall authenticate and deliver, in exchange for this <br /> Bond, one or more new fully registered Bonds in the name of the <br /> transferee (but not registered in blank or to "bearer" or similar <br /> 238053 <br /> 9 <br />