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<br /> - <br /> IJ-~S <br /> Section 4.02. O~tional Redemption. <br /> <br /> (a) The City reserves the option to redeem Bonds maturing <br /> on and after August 1, 2002, in whole or in part, before their <br /> scheduled maturity dates, on August 1, 2001, or on any date <br /> thereafter (such redemption date or dates to be fixed by the City) <br /> at a price equal to the principal amount of the Bonds called for <br /> redemption plus accrued interest from the most recent interest <br /> payment date on which interest has been paid or duly provided for to <br /> the redemption date. <br /> (b) The City, at least 45 days before the redemption date <br /> (unless a shorter period shall be satisfactory to the Paying <br /> Agent/Registrar), shall notify the Paying Agent/Registrar of such <br /> redemption date and of the principal amount of Bonds to be redeemed. <br /> Section 4.03. Partial Redemption. <br /> (a) If less than all of the Bonds a're to be redeemed, the <br /> City shall determine the amounts thereof to be redeemed and shall <br /> direct the Paying Agent/Registrar to calI by lot Bonds, or portions <br /> thereof within such maturity and in such principal amounts, for <br /> redemption. <br /> (b) A portion of a single Bond of a denomination greater <br /> than $5,000 may be redeemed, but only in a principal amount equal to <br /> $5,000 or any integra 1 multiple thereof. The Paying Agent/Registrar <br /> shall treat each $5,000 portion of the Bond as though it were a <br /> single Bond for purposes of selection for redemption. <br /> (c) Upon surrender of any Bond for redemption in part, the <br /> Paying Agent/Registrar, in accordance with Section 3.06 of this <br /> Ordinance, shall authenticate and deliver an exchange Bond or Bonds <br /> in an aggregate principal amount equal to the unredeemed portion of <br /> the Bond so surrendered. <br /> , <br /> (d) The Paying Agent/Registrar shall promptly notify the <br /> Ci ty in writing of the principal amount to be redeemed of any Bond <br /> as to which only a portion thereof is to be redeemed. <br /> Section 4.04. Notice of Redemption to Owners. <br /> (a) The Paying Agent/Registrar shal1 give notice of any <br /> redemption of Bonds by sending notice by United States mail, first <br /> class postage prepaid, not less than 30 days before the date fixed <br /> for redemption, to the Owner of each Bond (or part thereof) to be <br /> redeemed, at the address shown on the Register. <br /> (b) The notice shall state the redemption date, the <br /> redemption price, the place at which the Bonds are to be surrendered <br /> for payment, and, if less than all the Bonds outstanding are to be <br /> 4579f <br /> -15- <br />