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G) Authenticating Agent. The Registrar is hereby designated authenticating <br /> agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.55, <br /> Subdivision 1. <br /> 3.04. Appointment of Initial Re ism. The City hereby appoints Bond Trust Services <br /> Corporation in Roseville, Minnesota, as the initial Registrar. The Mayor and City Manager are <br /> authorized to execute and deliver, on behalf of the City, a contract with Bond Trust Services <br /> Corporation, as Registrar. Upon merger or consolidation of the Registrar with another <br /> corporation, if the resulting corporation is a bank or trust company authorized by law to conduct <br /> such business, such corporation shall be authorized to act as successor Registrar. The City <br /> agrees to pay the reasonable and customary charges of the Registrar for the services performed. <br /> The City reserves the right to remove any Registrar upon thirty (30) days' notice and upon the <br /> appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all <br /> cash and Bonds in its possession to the successor Registrar. On or before each principal or <br /> interest due date, without further order of this Council, the Finance Director shall transmit to the <br /> Registrar from the 2013 Water and Sewer Utility Bond Fund described in Section 4.02 hereof, <br /> moneys sufficient for the payment of all principal and interest then due. <br /> 3.05. Redemption. (a) Bonds maturing in the years 2014 through 2019 shall not be <br /> subject to redemption prior to maturity, but Bonds maturing in the years 2020 and thereafter shall <br /> each be subject to redemption and prepayment, at the option of the City, in whole or in part, and <br /> if in part, in the maturities selected by the City and, within any maturity, in $5,000 principal <br /> amounts selected by the Registrar by lot, on February 1, 2019 and on any date thereafter at a <br /> price equal to the principal amount thereof to be redeemed plus interest accrued to the date of <br /> redemption. <br /> (b) Bonds maturing in the year 2022 shall be subject to mandatory sinking fund <br /> redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br /> redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br /> years and principal amounts set forth below: <br /> Year Amount <br /> 2021 $140,000 <br /> 2022* $140,000 <br /> *Final Maturity <br /> In the event that any Bonds maturing in the year 2022 are redeemed pursuant to (a) above by the <br /> City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2022 so <br /> redeemed and canceled may be applied by the City as a credit against the Bonds to be redeemed <br /> pursuant to this subsection (b), such credit to be equal to the principal amount of the Bonds <br /> maturing in the year 2022 so redeemed or canceled provided that the City has notified the <br /> Register not less than thirty-five (35) days prior to the redemption date of its election to apply <br /> such Bonds as a credit. <br /> -10- <br />