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Bonds maturing on February 1, 2030, 2033, and 2035 (the "Term Bonds") shall be subject <br />to mandatory redemption prior to maturity pursuant to the sinking fund requirements of this <br />Section 2.04 at a redemption price equal to the stated principal amount thereof plus interest accrued <br />thereon to the redemption date, without premium. The Registrar shall select for redemption, by <br />lot or other manner deemed fair, on February 1 in each of the following years the following stated <br />principal amounts of such Bonds: <br />Year Principal Amount <br />2028 <br />2029 <br />75,000 <br />80,000 <br />The remaining $80,000 stated principal amount of such Bonds shall be paid at maturity on <br />February 1, 2030. <br />Year Principal Amount <br />2031 <br />2032 <br />85,000 <br />85,000 <br />The remaining $90,000 stated principal amount of such Bonds shall be paid at maturity on <br />February 1, 2033. <br />Year Principal Amount <br />2034 $90,000 <br />The remaining $95,000 stated principal amount of such Bonds shall be paid at maturity on <br />February 1, 2035. <br />Notice of redemption shall be given as provided in the preceding paragraph. <br />2.05. Appointment of Registrar. The City hereby appoints Bond Trust Services <br />Corporation, in Roseville, Minnesota, as the initial Bond registrar, transfer agent and paying agent <br />the "Registrar"). The Mayor and City Manager are authorized to execute and deliver, on behalf <br />of the City, a contract with the Registrar. Upon merger or consolidation of the Registrar with <br />another corporation, if the resulting corporation is a bank or trust company organized under the <br />laws of the United States or one of the states of the United States and authorized by law to conduct <br />such business, such corporation shall be authorized to act as successor Registrar. The City agrees <br />to pay the reasonable and customary charges of the Registrar for the services performed. The City <br />reserves the right to remove the Registrar, effective upon not less than thirty days' written notice <br />and upon the appointment and acceptance of a successor Registrar, in which event the predecessor <br />Registrar shall deliver all cash and Bonds in its possession to the successor Registrar and shall <br />deliver the Bond Register to the successor Registrar. <br />4 <br />4837-9618-8312\5