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<br /> (d) In the event that any such mutilated, lost, <br /> apparently destroyed or wrongfully taken Bond has become or is <br /> about to become due and payable, the Paying Agent/Registrar, <br /> in its discretion, instead of issuing a replacement Bond, may <br /> pay such Bond. <br /> (e) Each replacement Bond delivered in accordance with this <br /> Section shall constitute an original additional contractual <br /> obligation of the City and shall be entitled to the benefits and <br /> security of this Ordinance to the same extent as the Bond or Bonds <br /> in lieu of which such replacement Bond is delivered. <br /> ARTICLE IV <br /> REDEMPTION OF BONDS BEFORE MATURITY <br /> Section 4.01. Limitation on Redemption. <br /> <br /> The Bonds shall be subject to redemption before scheduled <br /> maturity only as provided in this Article IV. <br /> Section 4.02. Optional Redemption. <br /> <br /> (a) The City reserves the option to redeem Bonds maturing <br /> on and after January I, 2001, in whole or in part, before their <br /> respective scheduled maturity dates, on January 1, 2000, or on any <br /> date thereafter (such redemption date or dates to be fixed by the <br /> City) at a price equal to the principal amount of the Bonds called <br /> for 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 /> <br /> (a) If less than all of the Bonds are to be redeemed, the <br /> City shall determine the maturity or maturities and the amounts <br /> thereof to be redeemed and shall direct the Paying Agent/Registrar <br /> to call by lot Bonds, or portions thereof within such maturity or <br /> maturities and in such principal amounts, for 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 integral 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 /> 4172f <br /> -12- <br />