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<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 />Bonds to be redeemed. <br /> <br />Section 4.03. Partial Redemption. <br /> <br />(a) If less than all of the Bonds 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 Bonds, or portions thereof <br />within such maturity or maturities and in such principal amounts, for redemption. <br /> <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 Redemption 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 shall 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 />2383f <br /> <br />-11- <br />