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• <br /> only as fully registered bonds , in denominations of $5, 000 or <br /> any multiple thereof , of single maturities . <br /> The Bonds are each subject to redemption and <br /> prepayment, at the option of the City and in inverse order of <br /> maturities and by lot, assigned in proportion to their <br /> principal amount, within any maturity, on August 1, 1987 and on <br /> any interest payment date thereafter, at the redemption price <br /> expressed as percentages of the principal amount thereof to be <br /> redeemed as set forth in the table below, plus interest accrued <br /> to the date. of redemption: <br /> Redemption Date Redemption Price <br /> August 1 , 1987 through August 1 , 1992 102% <br /> February 1 , .1993 and thereafter 100% <br /> .. At least thirty days prior to the date set for redemption of <br /> any Bond, notice of the call for redemption will be published <br /> in a daily or weekly periodical , published in a Minnesota city <br /> of the first class or its metropolitan area, which circulates <br /> throughout the state and furnishes financial news as a part of <br /> its service, and will be mailed to the Bond Registrar and to <br /> • the registered owner of each Bond to be redeemed at his address <br /> appearing in the Bond Register , but no defect in or failure to <br /> give such mailed notice of redemption shall affect the validity <br /> of proceedings for the redemption of any Bond. Upon partial <br /> redemption of any Bond, a new Bond or Bonds will be delivered <br /> to the registered owner without charge, representing the <br /> remaining principal amount outstanding . <br /> As provided in the Resolution and subject to certain <br /> limitations set forth therein, this Bond is transferable upon <br /> the books of the City at the principal office of the Bond <br /> Registrar , by the registered owner hereof in person or by his <br /> attorney duly authorized in writing upon surrender hereof <br /> together with a written instrument of transfer satisfactory to <br /> the Bond Registrar, duly executed by the registered owner or <br /> his attorney; and may also be surrendered in exchange for Bonds <br /> of other authorized denominations . Upon such transfer or <br /> exchange, the City will cause a new Bond or Bonds to be issued <br /> in the name of the transferee or registered owner , of the same <br /> aggregate principal amount , bearing interest at the same rate <br /> and maturing on. the same date, subject to reimbursement for any <br /> tax, fee or governmental charge required to be paid with <br /> respect to such transfer or exchange. <br /> The City and the Bond Registrar may deem and treat the <br /> person in whose name this Bond is registered as the absolute <br /> owner hereof , whether this Bond is overdue or not, for the <br /> -9- <br />