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W <br />ON REVERSE OF BOND <br />Redemption. All Bonds of this issue (the "Bonds") are subject to redemption and <br />prepayment at the option of the Issuer on February 1, 2002, and on any date thereafter at a price <br />of par plus accrued interest. Redemption may be in whole or in part. 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, the Bond Registrar shall assign to each Bond a distinctive number for each $5,000 of <br />the principal amount of such Bond. The Bond Registrar shall then select by lot, using such <br />method of selection as it shall deem proper in its discretion, from the numbers assigned to the <br />Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such <br />Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned <br />numbers so selected; provided, however, that only so much of the principal amount of such Bond <br />of a 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 auihoriied 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, anew 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: bam: General Obligatim. This Bond is one of an issue in the total. <br />principal amount bf $1,015,000, -all of like date of original issue and tenor, except as to number <br />and denomination, which Bond has been issued pursuant to and in fill conformity with the. <br />Constitutiou and laws of the State of Minnesota and pursuant to a resolution adopted by the City - <br />Council of the Issuer on November 6, 2000. (the "Redolution"), for the purpose of providing. <br />money to pay the Issuer's General Obligation Temporary Improvement Bonds; Series 1998B, <br />dated May 2691998, which mature on February 1, 2001. This Bond is payable gut. of the General <br />Obligation Temporary Improvement Bonds, Series 2000B Fund of the Issuer, and into which- - <br />fund there arc to.be paid proceeds of the def five bonds or additional temporary -bonds which . <br />the Issuer is required by law to issue at or prior to the maturity .of this. Bond for the purpose of <br />refunding the same if the special assessments theretofore received or collected, or any other <br />municipal fiords which are properly available and are appropriated by the City Council for such <br />1222136.1 10 <br />