RES 18-036 RESOLUTION RELATING TO $2,610,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2018A; AWARDING THE SALE

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(i) Authenticating Agent. The Registrar is hereby designated authenticating agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.55, Subdivision 1. 3.04. Appointment of Initial Registrar. The City hereby appoints Bond Trust Services Corporation in Roseville, Minnesota, as the initial Registrar. The Mayor and City Manager are authorized to execute and deliver, on behalf of the City, a contract with Bond Trust Services Corporation, as Registrar. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, such corporation shall be authorized to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove any Registrar upon thirty (30) days' notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and Bonds in its possession to the successor Registrar. On or before each principal or interest due date, without further order of this Council, the Finance Director shall transmit to the Registrar from the 2018A Improvement Bond Fund described in Section 4.02 hereof, moneys sufficient for the payment of all principal and interest then due. 3.05. Redemption. (a) Bonds maturing in 2027 and later years are each subject to redemption, at the option of the City and in whole or in part, and if in part, in the maturities selected by the City and, within any maturity, in $5,000 principal amounts selected by the Registrar by lot, on February 1, 2026 and on any date thereafter, at a redemption price equal to the principal amount thereof to be redeemed plus accrued interest to the date of redemption. (b) Bonds maturing in the years 2028, 2030, 2032, and 2034 are subject to mandatory redemption, at a redemption price equal to their principal amount plus interest accrued thereon to the redemption date, without premium, on February 1 in each of the years shown below, in an amount equal to the following principal amounts: Term Bonds Maturing in 2028 Tenn Bonds Maturing in 2030 Sinking Fund Aggregate Sinking Fund Aggregate Payment Date Principal Amount Payment Date Principal Amount 2027 $175,000 2028 (final maturity) 180,000 Term Bonds Maturing in 2032 Sinking Fund Payment Date 2031 2032 (final maturity) 4852- 7706 - 1987\2 Aggregate Principal Amount $190,000 195,000 2029 $180,000 2030 (final maturity) 185,000 Term Bonds Maturing in 2034 Sinking Fund Payment Date 2033 2034 (final maturity) Aggregate Principal Amount $200,000 205,000