CC PACKET 09271988 - Laserfiche WebLink

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option' of prior payment , but Bonds having stated maturity dates in the years 1993 through 1995 are each subject to redemption and prepayment , at the option of the City and in whole or in part , and if in part , in inverse order of maturities and by lot , assigned in proportion to their principal amount , within any maturity, on October 1 , 1992 and on any interest payment date thereafter , at a price equal to the principal amount thereof to be redeemed plus interest accrued to the date of redemption. At least thirty days prior to the date set for redemption of any Bond, notice of the call for redemption will be published in a daily or weekly periodical , published in a Minnesota city of the first class or its metropolitan area, which circulates throughout the state and furnishes financial news as a part of its service, and will be mailed to the Bond Registrar and to the registered owner of each Bond to be redeemed at his address appearing in the Bond Register , but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Bond . Upon the partial redemption of any Bond, a new Bond or Bonds will be delivered to the registered owner without charge, representing the remaining principal amount outstanding . As provided in the Resolution and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner hereof in person or by his attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or his attorney; and may also be surrendered in exchange for Bonds of other authorized -denominations . Upon such transfer or exchange, the City will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount , bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee or governmental charge required to be paid with respect to such transfer or exchange. The City and the Bond Registrar may deem and treat the person in whose name this Bond is registered as the absolute owner hereof , whether this Bond is overdue or not, for the purpose of receiving payment and for all other purposes , and neither the City nor the Bond Registrar shall be affected by any notice to the contrary. IT IS HEREBY CERTIFIED, RECITED, COVENANTED AND AGREED that all acts , conditions and things 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 issuance of this Bond, have been done, do exist , have happened -5-