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,~ t" "\:. r -..,. ~ ayor and City Manager are directed to execute a contract with the Purchaser on behalf of the ity. .03. The City will forthwith issue and sell the Bonds pursuant to Minnesota Statutes, Chapter 69 (Act), in the total principal amount of $6,935,000, originally dated October 1, 2004, in the enomination of $5,000 each or any integral multiple thereof, numbered No.R-1, upward, bearing terest as above set forth, and maturing serially on February 1 in the years and amounts as ollows: Year Amount Year Amount 2006 $630,000 2012 $830,000 2007 $715,000 2013 $560,000 2008 $730,000 2014 $455,000 2009 $745,000 2015 $305,000 2010 $775,000 2016 $180,000 2011 $800,000 2017 $210,000 1.04. Optional Redemption. The City may elect on February 1, 2012, and on any day hereafter to prepay Bonds due on or after February 1, 2013. Redemption may be in whole or in art and if in part, at the option of the City and in such manner as the City will determine. If less han all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in ection 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by ot the amount of each participant's interest in such maturity to be redeemed and each participant ill then select by lot the beneficial ownership interests in such maturity to be redeemed. repayments will be at a price of par plus accrued interest. 1.05. Term Bonds. To be completed if Term Bonds are requested by the Purchaser. Registration and Payment. .01. Registered Form. The Bonds will be issued only in fully registered form. The interest ereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or raft issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest payment date receding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case the Bond will be dated as of the date of authentication, or (ii) the date of authentication 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 SJ8-252 4vl NE136-1