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Optional Redemption. All Certificates of this issue the "Certificates") maturing on
<br />March L 2017 and thereafter,, are subject to redemption and prepayment at the option of the
<br />Issuer on March I , 201 6,, and on any date thereafter at a price of par plus accrued interest.
<br />Redemption may be in whole or in part of the Certificates subject to prepayment. If redemption
<br />is in part, the maturities and the principal amounts within each maturity to be redeemed shall be
<br />determined by the Issuer- and if only part of the Certificates having a common maturity date are
<br />called for prepayment, the specific Certificates to be prepaid shall be chosen by lot by the
<br />Registrar. Certificates or portions thereof called for redemption shall be due and payable on the
<br />redemption date, and interest thereon shall cease to accrue from and after the redemption date.
<br />Mailed notice of redemption shall be given to the paying agent and to each affected Holder of the
<br />Certificates at least thirty days prior to the date fixed for redemption.
<br />Selection of Certificates for Redemption - Partial Redemption. To effect a partial
<br />redemption of Certificates having a common maturity date, the Registrar shall assign to each
<br />Certificate having a common maturity date a distinctive number for each $,5,000 of the principal
<br />amount of such Certificate. The Registrar shall then select by lot, using such method of selection
<br />as it shall deem proper in its discretion, from the numbers assigned to the Certificates, as many
<br />numbers as,, at $,5,,000 for each number,, shall equal the principal amount of such Certificates to
<br />be redeemed. The Certificates to be redeemed shall be the Certificates to which were assigned
<br />numbers so selected; provided, however, that only so much of the principal amount of such
<br />Certificate of a denomination of more than $,5,,000 shall be redeemed as shall equal $,5,000 for
<br />each number assigned to it and so selected. If a Certificate is to be redeemed only in part, it shall
<br />be surrendered to the Registrar (with, if the Issuer or Registrar so requires, a written instrument
<br />of transfer in form satisfactory to the Issuer and Registrar duly executed by the Holder thereof or
<br />the Holder's attorney duly authorized in writing) and the Issuer shall execute if necessary) and
<br />the Registrar shall authenticate and deliver to the Holder of the Certificate, without service
<br />charge, a new Certificate or Certificates of the same series having the same stated maturity and
<br />interest rate and of any Authorized Denomination or Denominations, as requested by such
<br />Holder,, in aggregate principal amount equal to and in exchange for the unredeemed portion of
<br />the principal of the Certificate so surrendered.
<br />Issuance- Purpose; General Obligation. This Certificate is one of an issue in the total
<br />principal amount of $,2,550,000, all of like date of original issue and tenor,, except as to number,,
<br />maturity,, interest rate, redemption privilege and denomination, issued pursuant to and in full
<br />conformity with the Constitution and laws of the State of Minnesota and pursuant to a resolution
<br />adopted by the City Council on August 25, 2008 (the "Resolution")�, for the purpose of providing
<br />money to finance the purchase of various items of capital equipment for the Issuer. This
<br />Certificate is payable out of the General Obligation Equipment Certificates of Indebtedness,
<br />Series 20080 Fund of the Issuer. This Certificate constitutes a general obligation of the Issuer
<br />and to provide moneys for the prompt and full payment of its principal, premium, if any, and
<br />interest when the same become due,, the full faith and credit and taxing powers of the Issuer have
<br />been and are hereby irrevocably pledged.
<br />Denominations- Exchange-, Resolution. The Certificates are issuable in fully registered
<br />form in Authorized Denominations as defined in the Resolution) and are exchangeable for fully
<br />registered Certificates of other Authorized Denominations in equal aggregate principal amounts
<br />at the principal office of the Registrar, but only in the manner and subject to the limitations
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