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91/ indemnity provided therefor to the extent of any loss, damage-, cost or expense incurred by the City or the Paying Agent/Registrar in connection therewith. Cd) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken Bond has become or is about to become due and payable, the Paying Agent/Registrar, in its discretion, instead of issuing a replacement Bond, may pay such Bond. (e) Each replacement Bond delivered in accordance with this Section shall constitute an original contractual obligation of the City and shall be entitled to the benefits and security of this Ordinance to the same I extent as the Bond or Bonds in lieu of which such replacement Bond is delivered. ARTICLE IV - REDEJ\1PTION OF BONDS BEFORE NfA TURITY Section 4.01. Limitation on RedemtJtion. . . The Bonds shall be subject to redemption before scheduled maturity only as provided in this Article IV. Section 4.02. Redemption of Bonds Prior to Maturitv. The City reserves the option to redeem Bonds maturing on and after February 15,2006 in whole or in part, before their scheduled maturity date, in inverse order of maturity, on February 15,2005, or on any date thereafter (such redemption date or dates to be fixed by the City) at a price equal to the principal amount of the Bonds called for redemption plus accrued interest from the most recent interest payment date on which interest has been paid or duly provided for to the redemption date. The City, at least 45 days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent/Registrar) , shall notifY the Paying Agent/Registrar of such redemption date and of the principal amount of Bonds to be redeemed. Section 4.03. Partial Redemption. (a) If less than all of the Bonds are to be redeemed, the City shall detennine the amOlUlts thereof to be redeemed and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions thereof within such maturity and in such principal amounts, for redemption. ~- A portion of a single Bond of a denomination greater than $5,000 may be redeemed, but only (b) in a principal amount equal to $5,000 or any integral multiple thereof. The Paying Agent/Registrar shall treat each $5,000 portion of the Bond as though it were a single Bond for purposes of selection for redemption. (c) Upon smrender of aay Bond for redemption in part, the Paying Agent/Registrar, in accordance with Section 3.06 of this Ordinance, shall authenticate and deliver an exchange Bond or Bonds in ,an aggregate principal amount equal to the unredeemed portion of the Bond so surrendered. (d) The Paying Agent/Registrar shall promptly notifY the City in "vriting of the principal amount to be redeemed of any Bond as to wmch only a portion thereof is to be redeemed. "'15AN>iAA \ WW3s.... OO<:S\O lUJ>lŒ.fll 10