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lost, stolen or destroyed, and of the ownership thereof, and upon receipt by the Registrar <br />of an appropriate bond or indemnity in form, substance and amount satisfactory to it, in <br />which both the City and the Registrar shall be named as obligees. All Bonds so <br />surrendered to the Registrar shall be cancelled by it and evidence of such cancellation <br />shall be given to the City. If the mutilated, lost, stolen or destroyed Bond has already <br />matured or been called for redemption in accordance with its terms, it shall not be <br />necessary to issue a new Bond prior to payment. <br />(i) 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 istrar. 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. <br />3.05. Redemption. Bonds maturing in 2025 and later years are each subject to <br />redemption, at the option of the City and in whole or in part, and if in part, in the maturities <br />selected by the City and, within any maturity, in $5,000 principal amounts selected by the <br />Registrar by lot, on February 1, 2024 and on any date thereafter, at a redemption price equal to <br />the principal amount thereof to be redeemed plus accrued interest to the date of redemption. <br />At least thirty days prior to the date set for redemption of any Bond, the City shall cause <br />notice of the call for redemption to be mailed to the Registrar and to the registered owner of each <br />Bond to be redeemed, but no defect in or failure to give such mailed notice of redemption shall <br />affect the validity of proceedings for the redemption of any Bond not affected by such defect or <br />failure. The notice of redemption shall specify the redemption date, redemption price, the <br />numbers, interest rates and CUSIP numbers of the Bonds to be redeemed and the place at which <br />the Bonds are to be surrendered for payment, which is the principal office of the Registrar. <br />Official notice of redemption having been given as aforesaid, the Bonds or portions thereof so to <br />be redeemed shall, on the redemption date, become due and payable at the redemption price <br />therein specified and from and after such date (unless the City shall default in the payment of the <br />redemption price) such Bonds or portions thereof shall cease to bear interest. <br />Bonds in a denomination larger than $5,000 may be redeemed in part in any integral <br />multiple of $5,000. The owner of any Bond redeemed in part shall receive without charge, upon <br />surrender of such Bond to the Registrar, one or more new Bonds in authorized denominations <br />equal in principal amount to be unredeemed portion of the Bond so surrendered. <br />0 <br />