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Section 4.5. Partial Redemption. <br />(a) If less than all of the Bonds are to be redeemed pursuant to either Sections 4.2, 4.3 <br />or 4.4, Bonds shall be redeemed in increments of $5,000 by lot, provided that no redemption <br />shall cause the principal amount of any Bond to be less than the minimum Authorized <br />Denomination for such Bond except as provided in the following sentence. Notwithstanding the <br />foregoing, if any Bonds are to be partially redeemed and such redemption results in the <br />redemption of a portion of a single Bond in an amount less than the Authorized Denomination in <br />effect at the time, a Bond in the principal amount equal to the unredeemed portion, but not less <br />than $5,000, may be issued. Each Bond shall be treated as representing the number of Bonds that <br />is obtained by dividing the principal amount of such Bond by the minimum Authorized <br />Denomination for such Bond. <br />(b) Upon surrender of any Bond for redemption in part, the Trustee in accordance <br />with Section 3.7 of this Indenture, shall authenticate and deliver an exchange Bond or Bonds in <br />an aggregate principal amount equal to the unredeemed portion of the Bond so surrendered, such <br />exchange being without charge. <br />Section 4.6. Notice of Redemption to Owners. <br />(a) Upon notification by the City to the Trustee of the exercise of any redemption, the <br />Trustee shall give notice of any redemption of Bonds by sending notice by first class United <br />States mail, postage prepaid, not less than 30 days before the date fixed for redemption, to the <br />Owner of each Bond or portion thereof to be redeemed, at the address shown in the Register. <br />(b) The notice shall state the redemption date, the Redemption Price, the place at <br />which the Bonds are to be surrendered for payment, and, if less than all the Bonds Outstanding <br />are to be redeemed, and subject to Section 4.5, an identification of the Bonds or portions thereof <br />to be redeemed, any conditions to such redemption and that on the redemption date, if all <br />conditions, if any, to such redemption have been satisfied, such Bond shall become due and <br />payable. <br />(c) Any notice given as provided in this Section shall be conclusively presumed to <br />have been duly given, whether or not the Owner receives such notice. <br />(d) The City has the right to rescind any optional redemption or extraordinary <br />optional redemption described in Section 4.3 or 4.4 by written notice to the Trustee on or prior to <br />the date fixed for redemption. Any notice of redemption shall be cancelled and annulled if for <br />any reason funds are not available on the date fixed for redemption for the payment in full of the <br />Bonds then called for redemption, and such cancellation shall not constitute an Event of Default <br />under this Indenture. The Trustee shall mail notice of rescission of redemption in the same <br />manner notice of redemption was originally provided. <br />27 <br />