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Optional Redemption. The Bonds of this issue (the "Bonds")maturing on February 1,
<br /> `-- 2023, and thereafter, shall be subject to redemption and prepayment at the option of the City on
<br /> February 1, 2022, 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 /> maturities and the principal amounts within each maturity to be redeemed shall be determined by
<br /> the City; and if only part of the Bonds having a common maturity date are called for prepayment,
<br /> the 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. Mailed notice of redemption
<br /> shall be given to the paying agent and to each affected Holder of the Bonds at least thirty days
<br /> prior to the date fixed for redemption.
<br /> Prior to the date on which any Bond or Bonds are directed by the Issuer to be redeemed
<br /> in advance of maturity, the Issuer will cause notice of the call thereof for redemption identifying
<br /> the Bonds to be redeemed to be mailed to the Bond Registrar and all Bondholders, at the
<br /> addresses shown on the Bond Register. All Bonds so called for redemption will cease to bear
<br /> interest on the specified redemption date, provided funds for their redemption have been duly
<br /> deposited.
<br /> Selection of Bonds for Redemption; Partial Redemption. To effect a partial redemption
<br /> of Bonds having a common maturity date, the Bond Registrar shall assign to each Bond having a
<br /> common maturity date a distinctive number for each$5,000 of the principal amount of such
<br /> Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall
<br /> deem proper in its discretion, from the numbers assigned to the Bonds, as many numbers as, at
<br /> $5,000 for each number, shall equal the principal amount of the Bonds to be redeemed. The
<br /> Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected; provided,
<br /> however, that only so much of the principal amount of 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 /> Issuer or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the
<br /> Issuer and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly
<br /> authorized in writing) and the Issuer 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 /> Issuance; Purpose; General Obligation. This Bond is one of an issue in the total principal
<br /> amount of$1,270,000, all of like date of original issue and tenor, except as to number, maturity,
<br /> interest rate, denomination and redemption privilege, issued pursuant to and in full conformity
<br /> with the Constitution and laws of the State of Minnesota and pursuant to a resolution adopted by
<br /> the City Council on July 10, 2012 (the "Resolution"), for the purpose of providing funds for a
<br /> current refunding of the Issuer's General Obligation Bonds, Series 2000A, dated October 18,
<br /> 2000, which matures on January 1, 2013, and thereafter. This Bond is payable out of the Debt
<br /> Service Account of the Issuer's General Obligation Utility Refunding Bonds, Series 2012A Fund.
<br /> This Bond constitutes a general obligation of the Issuer, and to provide moneys for the prompt
<br /> and full payment of its principal,premium, if any, and interest when the same become due, the
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