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EXHIBIT B. FORM OF BOND Nc>. R .. UN I t l 1) S1 -A-1 kS OF AMERIC.'A S STATE. O N- 4FN-1vLS(.)l',A COUNTY OF itAMSF'y Cl.IY OF -GEM LAKE GENF-RAI. OBLIGATI 0N REFUNDING. BOND' SERIES 7015A Date of Rate m tur' CLrioii141lssue CUSIP Anust 1, 20 June I7, 2075 Registered Owner: Cede-&:Cci: Tlie' City of Gem hake, Minnesota, a duly organized and existing municipal corporation in- Ra11Minnesota (the "City"), acknowledges itself to. be .indebted .and (ttr valtie. -tdceived primlises V .pay to the Registered Owner specified above or registered assigns, the p1 stnil of _till tale -maturity date specified above, with interest: thereon frilin the date hereof at lilt?. annual rate specified lb.ov.e, payable February 1 and August 1 in each year, collimefiCilia February 1. 2016, to the. person in* whose name this Bond is registered at the el se of business. on tlle- liffeenth day (whether or not a business clay) of the ininiediate',.ly% preceding illt)1it1]. The interest hereon anti. upon presentation .and surrender hereof the principal hereof are payable in Iawflrl .nione.v of the United Statcs ql' America by c:llecK or draft by t).S. Bank National !Association, St...Paul,.iiMinnesota, as ReoiStrar... Paying Agent, Transfer .Agent.and Authenticating Agent,. or its designated StieCUSSOI` U11del' tilt' Resolution &scribed herein. For the prompt an.d full lrlytnerlt Ofsucll principal and interest as the; saute respectively bccotiie due, the full faith and r�dit anal tatiin�.I.lo�vers of the City Have been and are.herel) irrevocsllfly Pledged. '111k-� City may elect oii Febrw ry I, 2014, and on any day thereafter te7 prepay Bonds. due on or after 1=ebruary f, 22025. Redemption maybe in whole or in partand if in part, at the option of the City -god iri .ugh inanner as the City will detcrnlind, If less than .all Bonds of a maturity are called for redenlptioll, the Cit;: will lrolifv "1 h6 Depository 'I`ru;t C:ompany.("UTC") of. the particular amount (1..t such lllaturih' td he.p.repaid. DTC will determine by lot the am.tltillt cif each p81-ticiPiT." 's interest in si.tch maturity to tic redecined and each participant NviII them select. by lot the beneficial Ownership interests in such maturity to be redeemed: Prepayments wiII be at.a price of pair 0.1us accrtied interest. This Bond. is:0ne of an issue in the aggregate principal anlouuL pf $__ all cif like nriginai issue date and tenor: ekeej)t its to number, amount. rnaturlty date. interest rate, and i'edeniption privilege, 'all issued pt.trsuant. to it. resoltllion adopted by (lie .City. Collrtcil on Mai- 1` 1 2015 (tire "Resalutioli'`.j, for the; purpose of providirig.mone}, to refund in advance of maturity Redemplipn pare (February 1... 21)16j, all as tleiined in (lie Resolution,a portion of certain general obligation bonds of the City, pursuant tci and in 11111 conforinity with the the Consliliition and laws of the State .of Minnesota; including: 1vlinrle ota Statutes. Chapter 475, as amended, speci# icaf iy Sectiol1.475.67 .stibdivisicili l A portion .of the interest. 4Glz:�.l Ct�1FC;til�.tx }3_ l