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BE IT RESOL' follows: 1. The.0 (the:"2604 Bonds"), dg. which $198,854.52. in I are subject to call fbr*p .Redemption may be in will determine and wit dkRogistrall.. Pm.paym' RESOLUTION. NO.20I3-4 MON PROVIDING FOR THE PREPAYMENT AND PTION OF THE CITY'S OUTSTANDING GENERAL MON IIV1PROVEMEiNT BONDS, SERIES 2004 .AND kL OBLIGATION IMPRO'VEM ENT BOND; SERIES 2006A By. 'the. City Council of the City of Gem Lake, Minnesota (the "City"),. as previously issued.andsold its General Obligation lmprovement Bonds, Series 2004 l.Novernber 3,:2004,. in the original aggregate principal amount of $586,000.0, of i6pol amount'is currently outstanding. Bonds maturing on or after August'l, 2005; r redemption *oft .an, February I or August 1 at a price of par plus accrued. interest. iold:or itr part,:and If iii part, at the option of the City and in such order as: the City i a maturity seleb.ted by the City Clerk, actin$ as the. Registrar for the Bonds (the s will beat eL.pno of par plusacbriied interest. 2. If is. determined that it is iri the best interests of ilie sound financial management: of the City that 2004 Bonds maturJ ng on August 1, 2013, and thereafter, comprising all of the Bonds subject to redemption;. be prepaid and redeemed on August l; 2013 (or on the. first: date thereafter :for which the Registrar-, ari provide pioper notice to the holders of the Bonds),: and those Bonds .are hereby ;called for .redemption on that datei i the aggregate principal amount of $:19B.,$54.52. 3: T'he Ci' previously issued and sold its General Obligation Improvement.. Bond, Series 2006A (the "2006 Bor ds'°), dated. August 23, 2066, in the original aggregate principal amount of $245;000.00, of which $ 1.0,000.00 in principal'amouhfls currently outstanding. Bonds maturing on or after February 1, 201.1, are su. 'eet to call for prior redemption on August 1, �2010, or on any interest date thereafter at a. prker-of par plus.-acc ed interest. Redemption may bean whole or in ,part; and .if in part, at the option of the City, and in such ord r as the City will determine and within a maturity' seleetod by the City Clerk, 4e ing: as the: Registrar for the 13 nds (the."Registrar").. Prepayments will be at a pr%e of par plus accrued interest. 4. It is::det - ined that ii is in ihe*best interests of the sound financial management of the City that 2006A -Bonds inatu ring on February 1, *2014, and thereafter, comprising all of the Bonds subJecct to redemption, be prepaid and redeemed *on August 1� 2013 (or oii the first date thereafter .for which the Registrar can provide proper notice to the holders of .the'Bortds);. and. those Bonds are hereby called for redemption on that.date i the -aggregate principal amount of $11.0,000.00. S. The Re; the form attached heret redeemed at the'address strar is authorized and directedto mail notice of call for redemption of the Bonds. in as E)C IT A and EXHIBIT B to the registered owners of each .FAftd to be Sown on'the registration. books kept by the Registrar. (The remainder of this page is. intentionally.-lei):.blank.) 42603Iv2 GEI90.6 1 2