Agenda - Council - 04/27/2010 - Laserfiche WebLink

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equal to the principal amount of this Bond to be redeemed plus accrued interest to the Redemption Date: (December 1) (December 1) Year Principal Amount Year Principal Amount 2010 $ 155,000 2017 $ 230,000 2011 160,000 2018 260,000 2012 165,000 2019 300,000 2013 170,000 2020 310,000 2014 180,000 2021 320,000 2015 185,000 2022 330,000 2016 210,000 2023* 340,000 * Final Maturity [18] Pursuant to the Indenture, the Bank or its designee may, under certain conditions, purchase Bonds which have been called for redemption or acceleration. [ 19] In the case of any partial redemption of the Bonds, the particular Bonds to be redeemed shall be selected by the Trustee in such manner as the Trustee shall deem fair and equitable and the Bonds shall be redeemed in the principal amounts specified in the Indenture; provided, that if at the time of selection of any Bonds for redemption, any Bonds are Company Bonds, as defined in the Indenture, such Company Bonds shall be selected for redemption prior to any other Bonds and further provided that no more than one (1) Bond may ever be outstanding in an amount less than $100,000. Upon the partial redemption of any Bond, the Holder thereof is not required to surrender such Bond to the Trustee for payment of the Redemption Price (including accrued interest thereon on the date fixed for redemption) of the portion thereof called for redemption and there shall be noted on the Bond by the Holder upon payment the principal amount so redeemed; provided that failure to note such prepayment hereon shall not affect the validity of such redemption. [20] Notice of redemption shall, if required by law, be published at least once before the redemption date in a daily or weekly financial journal or newspaper of general circulation in Minneapolis or Saint Paul, Minnesota, and shall be mailed at least thirty (30) days prior to the date fixed for redemption to each Registered Holder of a Bond to be redeemed. All Bonds so called for redemption, provided funds for their redemption have been duly deposited, will cease to bear interest on the specified redemption date and (except for the purpose of payment) shall no longer be protected by the Indenture and shall not be deemed Outstanding under the Indenture, and shall thereafter be payable solely from the funds provided for payment. [21 ] In addition to the foregoing, if under certain circumstances an Event of Default, as defined in the Indenture, shall occur, the principal of all the Bonds and all interest accrued thereon may, without prior notice to the Bondholders, be declared due and payable in the manner and with the effect provided in the Loan Agreement and Indenture. [22] This Bond and the series of which it forms a part are issued pursuant to and in full compliance with the Constitution and laws of the State of Minnesota, particularly 9 2496622v1