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amount to be redeemed plus accrued interest to the date fixed for redemption as a whole, or from time
<br />to time in part, and, if in part, the particular Bonds, or portions thereof, to be redeemed shall be
<br />selected and designated by the City, and if less than all of a maturity is to be redeemed the Paying
<br />Agent/Registrar shall determine by lot the Bonds, or portions thereof within such maturity to be
<br />redeemed (provided that a portion of a Bond may be redeemed only in integral multiples of $5,000 of
<br />principal amount).
<br />AT LEAST 30 days prior to the date fixed for any redemption of Bonds or portions thereof
<br />prior to maturity, a written notice of such redemption shall be sent by the Paying Agent/Registrar by
<br />United States mail, first -class postage prepaid, to the Registered Owner of each Bond to be redeemed
<br />at its address as it appeared on the Registration Books maintained by the Paying Agent/Registrar on
<br />the day such notice of redemption is mailed. By the date fixed for any such redemption, due provision
<br />shall be made with the Paying Agent/Registrar for the payment of the required redemption price for
<br />the Bonds or portions thereof which are to be so redeemed. If such written notice of redemption is
<br />mailed and if due provision for such payment is made, all as provided above, the Bonds or portions
<br />thereof which are to be so redeemed thereby automatically shall be treated as redeemed prior to their
<br />scheduled maturities, and they shall not bear interest after the date fixed for redemption, and they shall
<br />not be regarded as being outstanding except for the right of the Registered Owner to receive the
<br />redemption price from the Paying Agent/Registrar out of the funds provided for such payment. If a
<br />portion of any Bond shall be redeemed a substitute Bond or Bonds having the same maturity date,
<br />bearing interest at the same rate, in any denomination or denominations in any integral multiple of
<br />$5,000, at the written request of the Registered Owner, and in an aggregate principal amount equal
<br />to the unredeemed portion thereof, will be issued to the Registered Owner upon the surrender thereof
<br />for cancellation, at the expense of the Issuer, all as provided in the Bond Ordinance.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered Bonds, without interest
<br />coupons, in the denomination of any integral multiple of $5,000 (an "Authorized Denomination "). As
<br />provided in the Bond Ordinance, this Bond, or any unredeemed portion hereof, may, at the request
<br />of the Registered Owner or the assignee or assignees hereof, be assigned, transferred and exchanged
<br />for a like aggregate principal amount of fully registered Bonds, without interest coupons, payable to
<br />the appropriate Registered Owner, assignee or assignees, as the case may be, having the same
<br />denomination or denominations in any integral multiple of $5,000 as requested in writing by the
<br />appropriate Registered Owner, assignee or assignees, as the case may be, upon surrender of this Bond
<br />to the Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set
<br />forth in the Bond Ordinance. Among other requirements for such assignment and transfer, this Bond
<br />must be presented and surrendered to the Paying Agent/Registrar, together with proper instruments
<br />of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar,
<br />evidencing assignment ofthis Bond or any portion or portions hereof in any integral multiple of $5,000
<br />to the assignee or assignees in whose name or names this Bond or any such portion or portions hereof
<br />is or are to be registered. The form of Assignment printed or endorsed on this Bond may be executed
<br />by the Registered Owner to evidence the assignment hereof, but such method is not exclusive, and
<br />other instruments of assignment satisfactory to the Paying Agent/Registrar may be used to evidence
<br />the assignment of this Bond or any portion or portions hereof from time to time by the Registered
<br />Owner. The Paying Agent/Registrar's reasonable standard or customary fees and charges for
<br />transferring and exchanging any Bond or portion thereof shall be paid by the City, but any taxes or
<br />SAN MARCOS GORB 2011: PRICING CERT. D-3
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