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<br />Agent/Registrar.
<br /> Section 6. REDEMPTION. (a) Option to Redeem. The Certificates
<br />schedul~d to ~ature on an? after January 1, 1995, shall be subject to
<br />redempt1on pr1or to matur1ty, at the option of the City on January 1
<br />1994, or on any interest payment date thereafter as'a whole or i~
<br />part, ,in ~ri~cipal amounts of $5,000 or any integr~l multiple thereof
<br />(and If w~th1n a Stated Maturity at random and by lot by the Paying
<br />Agent/Reg1strar), at the redemption price equal to the principal
<br />amount thereof plus accrued interest to the date of redemption.
<br /> (b~ Exercise of .O~tion. At least 45 days prior to a date set for
<br />redempt1on of Cert1f1cates (unless a shorter notice shall be
<br />sat~sfactory to ~he Paying Agent/Registrar), the City shall notify the
<br />Pa¥ln~ Agent/RegIstrar of ,th~ date set for such redemption and the
<br />pr1nc1pal amount of CertIficates of each Stated Maturity to be
<br />redeemed. The City's decision to exercise its option to redeem any
<br />Certificates shall be entered in the official minutes of its governing
<br />body.
<br /> (c) Selection of Certificates for Redemption. If less than all
<br />of the Outstanding Certificates of a Stated Maturity are to be
<br />redeemed on a redemption date, the Paying Agent/Registrar shall select
<br />at random and. by lot the Certificates to be redeemed; provided,
<br />however, that 1f less than the entire amount of a Certificate is to be
<br />redeemed, the Paying Agent/Registrar shall treat such Certificate then
<br />subject to redemption as representing the number of Outstanding
<br />Certificates which is obtained by dividing the principal amount of
<br />such Certificate by $5,000. The Paying Agent/Registrar shall promptly
<br />notify the City in writing of the Certificates selected for redemption
<br />and, in the case of any Certificate selected for partial redemption,
<br />the principal amount of such Certificate to be redeemed.
<br /> (d) Notice of Redemption. Not less than thirty (30) days prior
<br />to a redemption date for the Certificates, the City shall cause a
<br />notice of redemption to be sent by United States mail, first class
<br />postage prepaid, to each registered owner of a Certificate to be
<br />redeemed, in whole or in part, at the address of the registered owner
<br />appearing on the Registration Books at the time such notice of
<br />redemption is mailed. Any notice of redemption so mailed shall be
<br />conclusively presumed to have been duly given whether or not received
<br />by the Holder.
<br /> All notices of redemption shall state (i) the date of redemption
<br />for the Certificates (ii) the identity of the Certificates to be
<br />redeemed and, in the case of a portion of the principal amount to be
<br />redeemed, the principal amount thereof to be redeemed, (iii) the
<br />redemption price, (iv) that on the redemption date the redemption
<br />price of each of the Certificates to be redeemed will become due and
<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 office of
<br />the Paying Agent/Registrar only upon surrender thereof by the Holder.
<br /> If a Certificate is subject by its terms to prior redemption and
<br />has been called for redemption, and notice of redemption thereof has
<br />been duly given as hereinabove provided, such Certificate, or ~he
<br />pr incipal amount thereof to be redeemed, so called for redemption
<br />shall become due and payable, and, if moneys sufficient for the
<br />payment of the redemption price of such Certificate, or the principal
<br />amount thereof to be redeemed, are held by the paying Agent/Registrar
<br />for the purpose of making such ~ayme~t, then, on the red~p~ion date
<br />stated in such notice of redempt1on, 1nterest on such Certlflcate,.or
<br />the pr incipal amount thereof to be redeemed, calle? for rede~ptlon
<br />shall cease to accrue on the redemption date stated In such notice of
<br />redemption, and such Certificate, or the principal amount thereof to
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