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ON REVERSE of BOND <br /> All Bonds of this issue (the "Bonds") <br /> maturing in the years 2006 to 2014 , both inclusive, are subject <br /> to redemption and prepayment at the option of the Issuer on March <br /> if 2005, and on any date thereafter at a price of par plus <br /> i <br /> accrued interest. Redemption may be in whole or n part of the <br /> Bonds subject to prepayment. If redemption is in part, those <br /> Bonds remaining unpaid which have the latest maturity date shall <br /> be p repaid first; and if only part of the Bonds having a common <br /> maturity date are called for prepayment, the specific Bonds to be <br /> repaid shall be chosen by let by the Bond Registrar, Bonds or <br /> portions thereof called for redemption shall be due and payable <br /> on the redemption date, and interest thereon shall cease to <br /> accrue from and after the redemption date. Notice of redemption <br /> shall be given by registered or certified mail at least thirty <br /> days prior to the date fixed ed for redemption to the paying <br /> agent and to each affected Helder of the Bonds. <br /> i -Bonds for Redemption; . , <br /> To effect a partial redemption of Bonds having a common maturity <br /> date, the Bond Registrar shall assign to each Bond having a <br /> common maturity date a distinctive number for each $5, 000 of the <br /> principal amount of such Bond. The Bend Registrar shall then <br /> select by lot, using such method of selection as it shall deem <br /> proper in its discretion, from the numbers assigned to the Bonds, <br /> as many numbers as, at $5, 000 for each number, shall equal the <br /> principal amount of such Bonds to be redeemed* The Bonds to be <br /> redeemed shall be the Bonds to which were assigned numbers so <br /> selected; prodded, however, that only so much of the principal <br /> amount of such Bond of a denomination of more than $5, 000 shall <br /> be redeemed as shall equal $5, 000 for each number assigned to it <br /> and so selected. If a Bond is to be redeemed only in part, it <br /> shall be surrendered to the Band Registrar (with, if the Issuer <br /> or Bond Registrar so requires, a written instrument of transfer <br /> in form- satisfactory to the Issuer and Bond registrar duly <br /> executed by the Holder thereof or his, her or its attorney duly <br /> authorized in writing) and the Issuer shall execute (if <br /> necessary) and the Bond Registrar shall authenticate and deliver <br /> to the Holder of such Bond, without service charge, a new Bond or <br /> Bonds of the same series having the same stated maturity and <br /> interest rate and of any Authorized Denomination or Denomina- <br /> tions, as requested by such Holder, in aggregate principal amount <br /> equal to and in exchange for the unredeemed portion of the <br /> principal of the Bond so surrendered. <br /> endered* <br /> ' This Bond is <br /> one of an issue in the total principal amount of $2 , 500, 0000 all <br /> of like date of original issue and tenor, except as to number, <br /> maturity, interest rate, denomination and redemption privilege{ <br /> which Bond has been issued pursuant to <br /> and in full conformity <br /> with the constitution and lags of the State of Minnesota and <br /> pursuant to a resolution adopted by the City council of the <br /> Issuer on January 25, 1999 (the "Resolution") , for the purpose of <br /> providing money to finance the construction of various <br /> improvements within the jurisdiction of the Issuer, This Bond is <br /> 1006009.1 13 <br />