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ON REVERSE OF BOND <br />Redemption. All Bonds of this issue (the "Bonds") are <br />subject to redemption and prepayment at the option of the Issue.- <br />on <br />ssue.on August 1, 1999, and on any date thereafter at a price of par <br />plus accrued interest. Redemption may be in whole or in part. <br />If redemption is in part, the specific Bonds to be prepaid shall <br />be chosen by lot by the Bond Registrar. Bonds or portions <br />thereof called for redemption shall be due and payable on the <br />redemption date, and interest thereon shall cease to accrue from <br />and after the redemption date. Notice of redemption shall be <br />given by registered or certified mail at least thirty (30) days <br />prior to the date fixed for redemption to the paying agent and to <br />each affected Holder of the Bonds at the address shown on the <br />registration books. <br />Selection of Bonds for Redemption; Partial Redemption. <br />To effect a partial redemption, the Bond Registrar shall assign <br />to each Bond a distinctive number for each $5,000 of the <br />principal amount of such Bond. The Bond Registrar shall then <br />select by lot, using such method of selection as it shall deem <br />proper in its discretion, from the numbers assigned to the Bonds, <br />as many numbers as, at $5,000 for each number, shall equal the <br />principal amount of such Bonds to be redeemed. The Bonds to be <br />redeemed shall be the Bonds to which were assigned numbers so <br />selected; provided, however, that only so much of the principal <br />amount of such Bond of a denomination of more than $5,000 shall <br />be redeemed as shall equal $5,000 for each number assigned to it <br />and so selected. If a Bond is to be redeemed only in part, it <br />shall be surrendered to the Bond Registrar (with, if the Issuer <br />or Bond Registrar so requires, a written instrument of transfer <br />in form satisfactory to the Issuer and Bond Registrar duly <br />executed by the Holder .thereof or his, her or its attorney duly <br />authorized in writing) and the Issuer shall execute (if <br />necessary) and the Bond Registrar shall authenticate and deliver <br />to the Holder of such Bond, without service charge, a new Bond or <br />Bonds of the same series having the same stated maturity and <br />interest rate and of any Authorized Denomination or <br />Denominations, as requested by such Holder, in aggregate <br />principal amount equal to and in exchange for the unredeemed <br />portion of the principal of the Bond so surrendered. <br />Issuance• Purpose• General Obligation. This Bond is <br />one of an issue in the total principal amount of $985,000, all of: <br />like date of original issue and tenor, except as to number and <br />denomination, which Bond has been issued pursuant to and in full <br />conformity with the Constitution and laws of the State of <br />Minnesota and pursuant to a resolution adopted by the City <br />Council of the Issuer on May 4, 1998 (the "Resolution"), for the <br />purpose of providing money to temporarily finance various <br />improvements within the jurisdiction of the Issuer. This Bond is <br />931992.1 11 <br />