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12831294v1 <br /> <br /> 6 <br /> <br />Maturity Year Interest Rate Maturity Year Interest Rate <br /> <br />2028 4.00% 2038 1.60% <br />2029 4.00% 2039 1.65% <br />2030 4.00% 2040 1.70% <br />2031 1.00% 2046 2.00% <br /> <br />5. Redemption. All Bonds maturing on February 1, 2031, and thereafter shall be <br />subject to redemption and prepayment at the option of the City on February 1, 2030, and on any <br />date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of <br />the Bonds subject to prepayment. If redemption is in part, the maturities and the principal <br />amounts within each maturity to be redeemed shall be determined by the City and if only part of <br />the Bonds having a common maturity date are called for prepayment, the specific Bonds to be <br />prepaid shall be chosen by lot by the Registrar. Bonds or portions thereof called for redemption <br />shall be due and payable on the redemption date, and interest thereon shall cease to accrue from <br />and after the redemption date. Mailed notice of redemption shall be given to the paying agent <br />and to each affected registered holder of the Bonds thirty (30) days prior to the date fixed for <br />redemption. <br />To effect a partial redemption of Bonds having a common maturity date, the Registrar <br />prior to giving notice of redemption shall assign to each Bond having a common maturity date a <br />distinctive number for each $5,000 of the principal amount of such Bond. The Registrar shall <br />then select by lot, using such method of selection as it shall deem proper in its discretion, from <br />the numbers so assigned to the Bonds, as many numbers as, at $5,000 for each number, shall <br />equal the principal amount of the Bonds to be redeemed. The Bonds to be redeemed shall be the <br />Bonds to which were assigned numbers so selected; provided, however, that only so much of the <br />principal amount of each Bond of a denomination of more than $5,000 shall be redeemed as shall <br />equal $5,000 for each number assigned to it and so selected. If a Bond is to be redeemed only in <br />part, it shall be surrendered to the Registrar (with, if the City or Registrar so requires, a written <br />instrument of transfer in form satisfactory to the City and Registrar duly executed by the Holder <br />thereof or the Holder's attorney duly authorized in writing) and the City shall execute (if <br />necessary) and the Registrar shall authenticate and deliver to the Holder of the Bond, without <br />service charge, a new Bond or Bonds having the same stated maturity and interest rate and of any <br />Authorized Denomination or Denominations, as requested by the Holder, in aggregate principal <br />amount equal to and in exchange for the unredeemed portion of the principal of the Bond so <br />surrendered. <br />6. Bond Registrar. U.S. Bank National Association, in St. Paul, Minnesota, is <br />appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond <br />Registrar"), and shall do so unless and until a successor Bond Registrar is duly appointed, all <br />pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. <br />The Bond Registrar shall also serve as paying agent unless and until a successor-paying agent is <br />duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or <br />record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12.