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20071105 - VIII-C-1
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20071105 - VIII-C-1
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Representations, as defined in the Resolution, and surrender of this Bond shall not be required <br />for payment of the redemption price upon a partial redemption of this Bond. Until termination of <br />the book-entry only system pursuant to the Resolution, Bonds may only be registered in the <br />name of the Depository or its Nominee. <br />Redemption. All Bonds of this issue (the "Bonds"j maturing in the years 2018 <br />and 2019, are subject to redemption and prepayment at the option of the Issuer on February 1, <br />2017, and on any date thereafter at a price of par plus accrued interest. Redemption may be in <br />whole or in part of the Bonds subject to prepayment. If redemption is in part, the Issuer shall <br />determine the maturities and principal amount within each maturity to be prepaid; and if only <br />part of the Bonds having a common maturity date are called for prepayment, the specific Bonds <br />to be prepaid shall be chosen by lot by the Bond Registrar. Bonds or portions thereof called for <br />redemption shall be due and payable on the redemption date, and interest thereon shall cease to <br />accrue from and after the redemption date. Mailed notice of redemption shall be given to the <br />paying agent and to each affected Holder of the Bonds. <br />Selection of Bonds for Redemption; Partial Redemption. To effect a partial <br />redemption of Bonds having a common maturity date, the Bond Registrar shall assign to each <br />Bond having a common maturity date, a distinctive number for each $5,000 of the principal <br />amount of such Bond. The Bond Registrar shall then select by lot, using such method of <br />selection as it shall deem proper in its discretion from the numbers assigned to the Bonds, as <br />many numbers as, at $5,000 for each number, shall equal the principal amount of such Bonds to <br />be redeemed. The Bonds to be redeemed shall be the Bonds to which were assigned numbers so <br />selected; provided, however, that only so much of the principal amount of such Bond of a <br />denomination of more than $5,000 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 only in part, it shall be surrendered to <br />the Bond Registrar (with, if the Issuer or the Bond Registrar so requires, a written instrument of <br />transfer in form satisfactory to the Issuer and the Bond Registrar duly executed by the Holder <br />thereof or his attorney duly authorized in writing) and the Issuer shall execute and the Bond <br />Registrar shalt authenticate and deliver to the Holder of such Bond, without service charge, a <br />new Bond or Bonds of the same series having the same stated maturity and interest rate and of <br />any authorized denomination or denominations, as requested by such Holder, in aggregate <br />principal amount equal to and in exchange for the unredeemed portion of the principal of the <br />Bond so surrendered_ <br />Issuance; Purpose; General Obli ation. This Bond is one of an issue in the total <br />principal amount of $2,425,000, all of like date of original issue and tenor, except as to number, <br />maturity, interest rate, denomination and redemption privilege, which Bond has been issued <br />pursuant to and in full conformity with the Constitution, Charter of the Issuer, and laws of the <br />State of Minnesota and pursuant to a resolution adopted by the City Council of the Issuer on <br />November 5, 2007 (the "Resolution"), for the purpose of providing money to finance various <br />improvement projects_ This Bond is payable out of the General Obligation Improvement Bonds, <br />Series 2007B Fund of the Issuer. This Bond constitutes a general obligation of the Issuer, and to <br />provide moneys for the prompt and full payment of its principal, premium, if any, and interest <br />when the same become due, the full faith and credit and taxing powers of the Issuer have been <br />and are hereby irrevocably pledged. <br />2086247x1 8 <br />
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