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<br />(b) A portion of a single Bond of a denomination greater than $5,000 may <br />be redeemed, but only in a principal amount equal to $5,000 or any integral multiple <br />thereof. The Paying Agent/Registrar shall treat each $5,000 portion of the Bond as <br />though it were a single Bond for purposes of selection for redemption. <br /> <br />(c) Upon surrender of any Bond for redemption in part, the Paying <br />Agent/Registrar, in accordance with Section 3.06 of this Ordinance, shall <br />authenticate and deliver an exchange Bond or Bonds in an aggregate principal <br />amount equal to the unredeemed portion of the Bond so surrendered. <br /> <br />(d) The Paying Agent/Registrar shall promptly notify the City in writing <br />of the principal amount to be redeemed of any Bond as to which only a portion <br />thereof is to be redeemed. <br /> <br />Section 4.04. Notice of RedemDtion to Holders. <br /> <br />(a) The Paying Agent/Registrar shall give notice of any redemption of <br />Bonds by sending notice by first class United States mail, postage prepaid, not less <br />than 30 days before the date fixed for redemption, to the Owner of each Bond (or <br />part thereof) to be redeemed, at the address shown on the Register. <br /> <br />(b) The notice shaH state the redemption date, the redemption price, the <br />place at which the Bonds are to be surrendered for payment, and, if less than all the <br />Bonds outstanding are to be redeemed, an identification of the Bonds or portions <br />thereof to be redeemed. <br /> <br />(c) Any notice given as provided in this Section shall be conclusively <br />presumed to have been duly given, whether or not the Holder receives such notice. <br /> <br />Section 4.05. Payment Upon Redemption. <br /> <br />(a) Before or on each redemption date, the Paying Agent/Registrar shall <br />make provision for the payment of the Bonds to be redeemed on such date by setting <br />aside and holding in trust an amount from the Interest and Sinking Fund or otherwise <br />received by the Paying Agent/Registrar from the City sufficient to pay the principal <br />of, premium, if any, and accrued interest on such Bonds. <br /> <br />(b) Upon presentation and surrender of any Bond called for redemption at <br />the principal corporate office of the Paying Agent/Registrar on or after the date <br />fixed for redemption, the Paying Agent/Registrar shaH pay the principal of, <br />premium, if any, and accrued interest on such Bond to the date of redemption from <br />the money set aside for such purpose. <br /> <br />Section 4.06. Effect of Redemption. <br /> <br />(a) Notice of redemption having been given as provided in Section 4.04 of <br />this Ordinance, the Bonds or portions thereof called for redemption shall become <br />due and payable on the date fixed for redemption and, unless the City defaults in the <br /> <br />2387f <br /> <br />-11- <br />