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calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per <br />annum set forth opposite the maturity years as follows: <br />Maturity Year <br />Interest Rate <br />Maturity Year <br />Interest Rate <br />2023 <br />4.00% <br />2033 <br />1.20% <br />2024 <br />4.00 <br />2034 <br />1.30 <br />2025 <br />4.00 <br />2035 <br />2.00 <br />2026 <br />4.00 <br />2036 <br />2.00 <br />2027 <br />4.00 <br />2037 <br />2.00 <br />2028 <br />4.00 <br />2038 <br />2.00 <br />2029 <br />4.00 <br />2039 <br />2.00 <br />2030 <br />4.00 <br />2040 <br />2.00 <br />2031 <br />3.00 <br />2041 <br />2.00 <br />2032 <br />1.10 <br />2042 <br />2.00 <br />5. Redemption. All Bonds maturing on February 1, 2032, and thereafter, shall be <br />subject to redemption and prepayment at the option of the City on February 1, 2031, 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 Bond Registrar. Bonds or portions thereof called for <br />redemption shall be due and payable on the redemption date, and interest thereon shall cease to <br />accrue from and after the redemption date. Mailed notice of redemption shall be given to the <br />paying agent and to each affected registered holder of the Bonds. <br />To effect a partial redemption of Bonds having a common maturity date, the Bond <br />Registrar prior to giving notice of redemption shall assign to each Bond having a common <br />maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The <br />Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in <br />its discretion, from the numbers so assigned to such Bonds, as many numbers as, at $5,000 for <br />each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be <br />redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, <br />that only so much of the principal amount of each such Bond of a denomination of more than <br />$5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If <br />a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the <br />City or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the <br />City and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly <br />authorized in writing) and the City shall execute (if necessary) and the Bond Registrar shall <br />authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or Bonds <br />having the same stated maturity and interest rate and of any Authorized Denomination or <br />Denominations, as requested by the Holder, in aggregate principal amount equal to and in <br />exchange for the unredeemed portion of the principal of the Bond so surrendered. <br />6. Bond Registrar. The City hereby appoints U.S. Bank National Association, in St. <br />Paul, Minnesota, to act as bond registrar and transfer agent with respect to the Bonds (the "Bond <br />C <br />53590415v1 <br />