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, , - , 'i.)". t l' ~ .03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, hapter 469 (Act) in the total principal amount of $2,385,000, originally dated October 1, 004, in the denomination of $5,000 each or any integral multiple thereof, numbered No. ~l, upward, bearing interest as above set forth, and maturing serially on February 1 in he years and amounts as follows: Year Amount Year Amount 2006 $120,000 2014 $170,000 2007 $160,000 2015 $345,000 2008 $165,000 2017 $195,000 2009 $170,000 2020 $305,000 2010 $175,000 2011 $185,000 2012 $195,000 2013 $200,000 1.04. Optional Redemption. The City may elect on February 1, 2013, and on any ay thereafter to prepay Bonds due on or after February 1,2014. Redemption may be in hole or in part and if in part, at the option of the City and in such manner as the City ill determine. If less than all Bonds of a maturity are called for redemption, the City ill notify DTC (as defined in Section 6 hereof) of the particular amount of such maturity o be prepaid. DTC will determine by lot the amount of each participant's interest in such aturity to be redeemed and each participant will then select by lot the beneficial wnership interests in such maturity to be redeemed. Prepayments will be at a price of ar plus accrued interest. .05. Term Bonds. To be completed ifTenn Bonds are requested by the Purchaser. Registration and Payment. .01. Registered Fonn. The Bonds will be issued only in fully registered form. The 'nterest thereon and, upon surrender of each Bond, the principal amount thereof, IS ayable by check or draft issued by the Registrar described herein. .02. Dates: Interest Payment Dates. Each Bond will be dated as of the last interest ayment date preceding the date of authentication to which interest on the Bond has been aid or made available for payment, unless (i) the date of authentication is an interest ayment date to which interest has been paid or made available for payment, in which ase the Bond will be dated as of the date of authentication, or (ii) the date of uthentication is prior to the first interest payment date, in which case the Bond will be dated as of the date of original issue. The interest on the Bonds is payable on February 1 and August 1 of each year, commencing August 1, 2005, to the registered owners of ecord thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. SJ8-252 Ovl NE136-1