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the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and <br />payable at the redemption price therein specified and from and after such date (unless the City <br />shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease <br />to bear interest. Upon partial redemption of any Bond, a new Bond or Bonds will be delivered to <br />the owner without charge, representing the remaining principal amount outstanding. <br />Bonds maturing on February 1, 2032, 2034, 2036, and 2038 (the "Term Bonds") shall be <br />subject to mandatory redemption prior to maturity pursuant to the sinking fund requirements of <br />this Section 2.04 at a redemption price equal to the stated principal amount thereof plus interest <br />accrued thereon to the redemption date, without premium. The Registrar shall select for <br />redemption, by lot or other manner deemed fair, on February 1 in each of the following years the <br />following stated principal amounts of such Bonds: <br />Tenn Bonds Maturing in 2032 <br />Sinking Fund <br />Aggregate <br />Payment Date <br />Principal Amount <br />2031 <br />$170,000 <br />2032* <br />180,000 <br />*final maturity <br />Term Bonds Maturing in 2036 <br />Sinking Fund <br />Pavment Date <br />2035 <br />2036* <br />*final maturity <br />Aggregate <br />Principal Amount <br />$145,000 <br />150,000 <br />Tenn Bonds Maturing in 2034 <br />Sinking Fund <br />Pavment Date <br />2033 <br />2034* <br />*final maturity <br />Aggregate <br />Principal Amount <br />$180,000 <br />140,000 <br />Term Bonds Maturing in 2038 <br />Sinking Fund <br />Aggregate <br />Payment Date <br />Principal Amount <br />2037 <br />$155,000 <br />2038* <br />160,000 <br />*final maturity <br />Notice of redemption shall be given as provided in the preceding paragraph. <br />2.05. AApointment of Registrar. The City hereby appoints Bond Trust Services <br />Corporation, Roseville, Minnesota, as the initial Bond registrar, transfer agent and paying agent <br />(the "Registrar"). The Mayor and City Clerk are authorized to execute and deliver, on behalf of <br />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 <br />conduct such business, such corporation shall be authorized to act as successor Registrar. The <br />City agrees to pay the reasonable and customary charges of the Registrar for the services <br />performed. The City reserves the right to remove the Registrar, effective upon not less than <br />thirty days' written notice and upon the appointment and acceptance of a successor Registrar, in <br />which event the predecessor Registrar shall deliver all cash and Bonds in its possession to the <br />successor Registrar and shall deliver the Bond Register to the successor Registrar. <br />4876-8449-2315\4 <br />