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4 <br />4854-7635-7637.1 <br /> <br /> (a) Optional Redemption. All Bonds maturing on or after December 20, 2031, are subject <br />to redemption and prior payment in whole or in part in such order as the City may determine and <br />by lot within a maturity at the option of the City on December 20, 2030, and any date thereafter at <br />par and accrued interest. All Bonds shall be redeemed at a price of par plus accrued interest to the <br />date of redemption. If redemption is in part, the selection of the amounts and maturities of the <br />Bonds to be redeemed shall be at the discretion of the City. If only part of the Bonds having a <br />common maturity date are called for redemption, then the City or Paying Agent, if any, will notify <br />DTC of the particular amount of such maturity to be redeemed. DTC will determine by lot the <br />amount of each participant's interest in such maturity to be redeemed and each participant will then <br />select by lot the beneficial ownership interest in such maturity to be redeemed. <br /> <br /> (b) Notice of Redemption. Notice of redemption of Bonds stating their designation, date, <br />maturity, principal amounts and the redemption date shall be given by the Registrar by mailing <br />such notice by first class mail, postage prepaid, not more than 60 days and not less than 30 days <br />prior to the date fixed for redemption (or such shorter period as may be acceptable to the then <br />registered owner of the Bonds) to the registered owners at their most recent addresses appearing <br />upon the books of the Registrar. Failure to give notice to any particular registered owner or any <br />defect in the notice given to such owner shall not affect the validity of the proceedings calling the <br />Bonds or the redemption of any Bonds for which proper notice has been given. Notice of <br />redemption need not be given to the holder of any Bonds, whether registered or not, who has <br />waived notice of redemption. Notice of redemption having been given as provided above or notice <br />of redemption having been waived by the owners of Bonds called for redemption to whom such <br />notice has not been given as provided above, the Bonds so called for redemption shall become due <br />and payable on the designated redemption date. <br /> <br />2.05. Appointment of Initial Registrar. The City hereby appoints Bond Trust Services <br />Corporation in Roseville, Minnesota, as the initial bond registrar, transfer agent and paying agent <br />(the “Registrar”). The Authorized Officers, or each individually, is authorized to execute and <br />deliver, on behalf of the City, a contract with the Registrar (the “Registrar Agreement”). The <br />Registrar shall have only such duties and obligations as are expressly specified by this Resolution <br />and the Registrar Agreement, and no other duties or obligations shall be implied to the Registrar, <br />except as may be set forth in a written agreement between the City and a successor Registrar. <br /> <br />The City agrees to pay the reasonable and customary charges of the Registrar for the <br />services performed. The Registrar shall notify the City in writing of any changes in its principal <br />corporate trust office as set forth in this Section. <br /> <br />Upon merger or consolidation of the Registrar with another corporation, if the resulting <br />corporation is a bank or trust company authorized by law to conduct such business, such <br />corporation shall be authorized to act as successor Registrar. <br /> <br />The City reserves the right to remove the Registrar upon thirty (30) days’ notice and upon <br />the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all <br />cash and Bonds in its possession to the successor Registrar and shall deliver the bond register to <br />the successor Registrar. The Authorized Officers, or each individually, is authorized to remove the