RES 21-045 RELATING TO $2,970,000 GENERAL OBLIGATION BONDS SERIES 2021A

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date thereafter, at a price equal to the principal amount thereof and accrued interest to the date of redemption. The City shall cause notice of the call for redemption thereof to be published if and to the extent required by law, and at least thirty (30) and not more than sixty (60) days prior to the designated redemption date, shall cause notice of call for redemption to be mailed, by first class mail (or, if applicable, provided in accordance with the operational arrangements of the securities depository), to the registered holders of any Bonds, at the holders' addresses as they appear on the Bond register maintained by the Bond Registrar, but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Bond not affected by such defect or failure. Official notice of redemption having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified and from and after such date (unless the City shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon partial redemption of any Bond, a new Bond or Bonds will be delivered to the owner without charge, representing the remaining principal amount outstanding. As provided in the Resolution and subject to certain limitations set forth therein, this Bond is transferable upon the books of the City at the principal office of the Bond Registrar, by the registered owner hereof in person or by his attorney duly authorized in writing upon surrender hereof together with a written instrument of transfer satisfactory to the Bond Registrar, duly executed by the registered owner or his attorney; and may also be surrendered in exchange for Bonds of other authorized denominations. Upon such transfer or exchange, the City will cause a new Bond or Bonds to be issued in the name of the transferee or registered owner, of the same aggregate principal amount, bearing interest at the same rate and maturing on the same date, subject to reimbursement for any tax, fee or governmental charge required to be paid with respect to such transfer or exchange. Bonds maturing in the years 2034 and 2037 shall be 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 2034 Sinking Fund Payment Date 2033 2034 (final maturity) Aggregate Principal Amount $95,000 95,000 Term Bonds Maturing in 2037 Sinking Fund Payment Date 2035 2036 2037 (final maturity) Aggregate Principal Amount $ 95,000 95,000 100,000 or, if less than such amount of Term Bonds is outstanding on any such Sinking Fund Payment Date, an amount equal to the aggregate principal amount of all Term Bonds then Outstanding. If Term Bonds are redeemed at the option of the City pursuant to this section, the Term Bonds so optionally redeemed may, at the option of the City, be applied as a credit against any subsequent mandatory sinking fund payment with respect to Term Bonds otherwise to be redeemed thereby, such credit to be equal to the principal amount of such Term Bonds redeemed pursuant to this section, provided that the City shall have delivered to the Registrar not less than forty-five (45) days before such Sinking Fund Payment Date a written statement of its election to apply such Term Bonds as such a credit. In such case, the Registrar shall reduce the amount of Term Bonds to be redeemed on the Sinking Fund Payment Date specified in such written statement by the principal amount of Term Bonds so redeemed pursuant to this section. A-2 4813-3012-0929\4