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<br />shall be redeemed as shall equal $5,000 for each number <br />assigned to it and so selected. If a Bond is to be redeemed <br />only in part, it shall be surrendered to the Bond Registrar <br />(with, if the City or the Bond Registrar so requires, a written <br />instrumertr of transfer in form satisfactory to the City and the <br />Bond Registrar duly executed by the holder thereof or his <br />attorney duly authorized in writing) and the City shall execute <br />and the Bond Registrar shall authenticate and deliver to the <br />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 <br />denominations, as requested by such holder, in aggregate <br />principal amount equal to and in exchange for the unredeemed <br />portion of the principal of the Bond so surrendered. <br /> <br />7. American National Bank and Trust Company, in <br />Saint Paul, Minnesota is appointed to act as bond registrar and <br />transfer agent (the "Bond Registrar") and shall do so unless <br />and until a successor Bond Registrar is duly appointed, all <br />pursuant to any contract the City and Bond Registrar shall <br />execute which is consistent herewith. The Bond Registrar shall <br />also serve as paying agent unless and until a successor paying <br />agent is duly appointed. Principal and interest on the Bonds <br />shall be paid to the registered holders (or record holder) of <br />the Bonds in the manner set forth in the form of Bond and <br />paragraph 13 of this resolution. <br /> <br />8. The Bonds to be issued hereunder, together with <br />the Bond Registrar's Certificate of Authentication, the form of <br />Assignment and the registration information thereon shall be in <br />substantially the following form: <br /> <br />5 <br />