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<br />payable and that interest thereon, or on the portion of the principal
<br />amount thereof to be redeemed, as applicable, shall cease to accrue
<br />from and after the redemption date, and (v) that payment of the
<br />redemption price for the Certificates, or the principal amount of the
<br />Certificates to be redeemed, shall be made at the principal corporate
<br />office of the Paying Agent/Registrar only upon surrender thereof by
<br />the Holder.
<br /> (e) Effect of Redemption. If a Certificate is subject by its
<br />terms to pr ior redeption and has been called for redemption, and
<br />notice of redemption thereof has been duly given as hereinabove
<br />provided, such Certificate, or the principal amount thereof to be
<br />redeemed, so called for redemption shall become due and payable, and,
<br />if moneys sufficient for the payment of the redemption price of such
<br />Certificate, or the principal amount thereof to be redeemed, are held
<br />by the Paying Agent/Registrar for the purpose of making such payment,
<br />then, interest on such Certificate, or the principal amount thereof to
<br />be redeemed, called for redemption shall cease to accrue on the
<br />redemption date stated in such notice of redemption, and such
<br />Certificate, or the principal amount thereof to be redeemed, shall not
<br />be deemed to be Outstanding hereunder.
<br /> (f) Partial Redemption. If a portion of any Certificate shall
<br />be redeemed, upon surrender of such Certificate as hereinabove
<br />provided, a new Certificate or Certificates having the same Stated
<br />Maturity, bearing interest at the same rate, in the principal amount
<br />of such Certificate not redeemed, and in any denomination or
<br />denominations in any integral multiple of $5,000, will be issued to
<br />the registered owner upon surrender of such Certificate for
<br />cancellation, without service charge to such registered owner.
<br /> Section 7. REGISTRATION; TRANSFER AND EXCHANGE. (a)
<br />Registration. The Paying Agent/Registrar shall obtain, record and
<br />maintain in the Registration Books the name and address of each
<br />registered owner of the Certificates issued pursuant to the provisions
<br />of this Ordinance.
<br /> (b) Transfer and Exchange. Upon surrender for transfer of any
<br />Certificate at the principal corporate office of the Paying
<br />Agent/Registrar, the Paying Agent/Registrar shall register and
<br />deliver, in the name of the designated transferee or transferees, one
<br />or more new Certificates, executed on behalf of and provided by the
<br />City, of the same Stated Maturi ty, bearing the same interest rate,
<br />having authorized denominations, and of a like aggregate principal
<br />amount as the Certificate or Certificates surrendered for transfer.
<br /> At the option of the Holder, Certificates may be exchanged for
<br />other Certificates of the same Stated Maturity, bearing the same rate
<br />of interest, of any author i zed denominations, and of like aggr egate
<br />principal amount, upon surrender of the Certificates to be exchanged
<br />at the principal corporate office of the Paying Agent/Registrar.
<br />Whenever any Certificates are so surrendered for exchange, the Paying
<br />Agent/Registrar shall register and deliver to the Holder requesting
<br />the exchange new Certificates executed on behalf of and provided by
<br />the City.
<br /> All Certificates issued upon any transfer or exchange of
<br />Certificates shall be the valid obligations of the City, evidencing
<br />the same debt, and entitled to the same benefits under this Ordinance
<br />as the Certificates surrendered in such transfer or exchange; and all
<br />Certificates issued upon any transfer or exchange shall be delivered
<br />at the principal corporate office of the Paying Agent/Registrar, or
<br />sent by United States registered mail to the Holder or his designee, at
<br />the Holder's risk and expense.
<br /> To the extent possible, new Certificates issued in exchange or
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