PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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of a stated maturity within a series are to be redeemed pursuant to a redemption as provided herein, the Bonds to be redeemed shall be selected by the Trustee by lot or by such other method as the Trustee deems fair. Notice of Redemption; Payment. With respect to any redemption the Trustee is required to cause notice of the redemption to be mailed to the registered owner of each Series 2001 Bond to be redeemed(whether in whole or in part),by first class mail,postage prepaid not earlier than sixty(60)days and not later than thirty(30)days prior to the redemption date. Failure to give a notice, or any defect in any such notice, shall not affect the validity of any proceedings for the redemption of any Series 2001 Bonds not affected by such failure or defect. Acceleration. Upon an Event of Default under the Indenture,all Series 2001 Bonds are subject to acceleration and prepayment on any date at their principal amount, plus accrued interest to the payment date. Mandatory Tender of the Series 2001 Tax-Exempt Bonds The Series 2001 Tax-Exempt Bonds are subject to mandatory tender on November 1, 2011. The Holder of each Series 2001 Tax-Exempt Bond shall tender such Series 2001 Tax-Exempt Bond to the Trustee for purchase on the Mandatory Tender Date. Notice of the Mandatory Tender Date(a"Mandatory Tender Notice") shall be given by the Trustee to the Holders of all Series 2001 Tax-Exempt Bonds not less than 15 days prior to the Mandatory Tender Date. A copy of any Mandatory Tender Notice shall be delivered by the Trustee to the Remarketing Agent and the Borrower. All Series 2001 Tax-Exempt Bonds shall be tendered to the Trustee for purchase at or before 12:00 noon Minneapolis time on the Business Day prior to the Mandatory Tender Date,by delivering such Bonds to the Trustee together with an appropriate instrument of transfer duly executed in blank. On the Mandatory Tender Date,the Trustee,acting on behalf of the Borrower and for the benefit of the Holders of the Series 2001 Tax-Exempt Bonds from time to time,shall purchase or cause to be purchased all Series 2001 Tax-Exempt Bonds at a purchase price equal to the principal amount thereof plus accrued interest thereon. Funds for the payment of the purchase price of such Series 2001 Tax-Exempt Bonds shall be drawn by the Trustee from the Bond Purchase Fund. Any Series 2001 Tax-Exempt Bond which is not tendered on or prior to the Mandatory Tender Date with respect to such Series 2001 Tax-Exempt Bond(an"Untendered Bond"), as to which there has been irrevocably deposited with the Trustee an amount sufficient to pay the purchase price thereof shall be "deemed tendered" for purposes of the Indenture and shall cease to accrue interest on such Mandatory Tender Date,as the case may be,and the Holder thereof shall not be entitled to any payment other than the purchase price for such Untendered Bond, and shall no longer be entitled to the benefits of the Indenture, except for payment of the purchase price therefor and interest thereon through the Mandatory Tender Date from moneys held by the Trustee for such purpose upon presentment of such Bond to the Trustee.