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<br /> (c) Upon surrender of any Bond for redemption in part, the <br /> Paying Agent/Registrar, in accordance wi.th 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 /> (d) The Paying Agent/Registrar shall promptly notify the <br /> City 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 Holders. <br /> (a) The Paying Agent/Registrar shall give notice of any <br /> redemption of Bonds by sending notice by first class United States <br /> mail, 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 /> redeemed, an identification of the Bonds or portions thereof to be <br /> redeemed. <br /> (c) Any notice given as provided in this Section shall be <br /> conclusively presumed to have been duly given, whether or not the <br /> Holder receives such notice. <br /> Section 4.05. Pavrnent Upon Redemption. <br /> <br /> (a) Before or on each redemption date, the Paying <br /> Agent/Registrar shall make provision for the payment of the Bonds to <br /> be redeemed on such date by setting aside and holding in trust an <br /> amount from the Interest and Sinking Fund or otherwise received by <br /> the paying Agent/Registrar from the City sufficient to pay the <br /> principal of, premium, if any, and accrued interest on such Bonds. <br /> (b) Upon presentation and surrender of any Bond called for <br /> redemption at the principal corporate office of the Paying <br /> Agent/Registrar on or after the date fixed for redemption, the <br /> Paying Agent/Registrar shall pay the principal of, premium, if <br /> any,and accrued interest on such Bond to the date of redemption from <br /> the money set aside for such purpose. <br /> Section 4.06. Effect of Redemption. <br /> <br /> (a) Notice of redemption having been given as provided in <br /> Section 4.04 of this Ordinance, the Bonds or portions thereof called <br /> for redemption shall become due and payable on the date fixed for <br /> redemption and, unless the City defaults in the payment of the <br /> principal thereof, premium, if any, or accrued interest thereon, <br /> 4l72f <br /> -13- <br />