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ON REVERSE OF BOND
<br />Redemption. All Bonds of this issue (the "Bonds") maturing in the years 2010 to
<br />2018, both inclusive, are subject to redemption and prepayment at the option of the Issuer on
<br />February 1, 2009, and on any date thereafter at a price of par plus accrued interest. Redemption
<br />may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the
<br />specific Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions
<br />thereof called for redemption shall be due and payable on the redemption date, and interest
<br />thereon shall cease to accrue from and after the redemption date. Notice of redemption shall be
<br />given by registered or certified mail at least thirty (30) days prior to the date fixed for redemption
<br />to the paying agent and to each affected Holder of the Bonds at the address shown on the
<br />registration books.
<br />Selection of Bonds for Redemption• Partial Redemption. To effect a partial
<br />redemption of Bonds having a common maturity date, the Bond Registrar shall assign to each
<br />Bond having a common maturity date a distinctive number for each $5,000 of the principal
<br />amount of such Bond. The Bond Registrar shall then select by lot, using such method of
<br />selection as it shall deem proper in its discretion, from the numbers assigned to the Bonds, as
<br />many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to
<br />be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so
<br />selected; provided, however, that only so much of the principal amount of such Bond of a
<br />denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number
<br />assigned to it and so selected. If a Bond is to be redeemed only in part, it shall be surrendered to
<br />the Bond Registrar (with, if the Issuer or Bond Registrar so requires, a written instrument of
<br />transfer in form satisfactory to the Issuer and Bond Registrar duly executed by the Holder thereof
<br />or his, her or its attorney duly authorized in writing) and the Issuer shall execute (if necessary)
<br />and the Bond Registrar shall authenticate and deliver to the Holder of such Bond, without service
<br />charge, a new Bond or Bonds of the same series having the same stated maturity and interest rate
<br />and of any Authorized Denomination or Denominations, as requested by such Holder, in
<br />aggregate principal amount equal to and in exchange for the unredeemed portion of the principal
<br />of the Bond so surrendered.
<br />Issuance, Purpose: General Obligation. This Bond is one of an issue in the total
<br />principal amount of $1,885,000, all of like date of original issue and tenor, except as to number,
<br />maturity, interest rate, denomination and redemption privilege, which Bond has been issued
<br />pursuant to and in full conformity with the Constitution and laws of the State of Minnesota and
<br />pursuant to a resolution adopted by the City Council of the Issuer on November 6, 2000 (the
<br />"Resolution"), for the purpose of providing money to pay the Issuer's Temporary Taxable
<br />General Obligation Tax Increment Bonds, Series 1998C, dated May 26, 1998, which mature on
<br />February 1, 2001. This Bond is payable out of the Taxable General Obligation Tax Increment
<br />Bonds, Series 2000A Fund of the Issuer. This Bond constitutes a general obligation of the
<br />Issuer, and to provide moneys for the prompt and full payment of its principal, premium, if any,
<br />1221%9.1
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