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<br />was issued presents for payment such original Certificate, the City and the Paying <br />Agent/Registrar shall be entitled to recover such replacement Certificate from the <br />person to whom it was delivered or any person taking therefrom, except a bona fide <br />purchaser, and shall be entitled to recover upon the security or indemnity provided <br />therefor to the extent of any loss, damage, cost or expense incurred by the City or <br />the Paying Agent/Registrar in connection therewith. <br /> <br />(d) In the event that any such mutilated, lost, apparently destroyed or <br />wrongfully taken Certificate has become or is about to become due and payable, the <br />Paying Agent/Registrar, in its discretion, instead of issuing a replacement <br />Certificate, may pay such Certificate. <br /> <br />(e) Each replacement Certificate delivered in accordance with this <br />Section shall constitute an original additional contractual obligation of the City and <br />shall be entitled to the benefits and security of this Ordinance to the same extent as <br />the Certificate or Certificates in lieu of which such replacement Certificate is <br />delivered. <br /> <br />ARTICLE IV <br />REDEMPTION OF CERTIFICATES BEFORE MATURITY <br /> <br />Section 4.01. Limitation on Redemption. <br /> <br />The Certificates shall be subject to redemption before scheduled maturity <br />only as provided in this Article IV. <br /> <br />Section 4.02. Optional Redemption. <br /> <br />(a) The City reserves the option to redeem Certificates maturing on and <br />after August 1, 1999, in whole or in part, before their respective scheduled maturity <br />dates, on August 1, 1998, or on any interest payment date thereafter (such <br />redemption date or dates to be fixed by the City) at a price equal to the principal <br />amount of the Certificates called for redemption plus accrued interest from the <br />most recent interest payment date on which interest has been paid or duly provided <br />for to the redemption date. <br /> <br />(b) The City, at least 45 days before the redemption date (unless a <br />shorter period shall be satisfactory to the Paying Agent/Registrar), shall notify the <br />Paying Agent/Registrar of such redemption date and of the principal amount of <br />Certificates to be redeemed. <br /> <br />Section 4.03. Partial Redemption. <br /> <br />(a) If less than all of the Certificates are to be redeemed, the City shall <br />determine the maturity or maturities and the amounts thereof to be redeemed and <br />shall direct the Paying Agent/Registrar to call by lot Certificates, or portions <br />thereof within such maturity or maturities and in such principal amounts, for <br />redemption. <br /> <br />2389f <br /> <br />-11- <br />