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<br />notice frDmthe Fiscal Officer to. the Registrar, given upon the direction of the
<br />Council of the City by passage of an Drdinance. That notice shall specify the
<br />redemption date and the principal ~mount of each maturity of bonds to be
<br />redeemed, and shall be given at least 45 days prior to the redemption date or
<br />such shorter p~riod as shall be acceptable to the Registrar. In the event that
<br />notice of redemption shall have been given by the Registrar to the registered
<br />Dwners as hereinafter provided, there shall be deposited with the Registrar on
<br />or prior to the redemption date, funds which, in addition tD any other moneys
<br />available therefor and held by the Registrar, will be sufficient to redeem at the
<br />redemption price thereof, plus interest accrued to the redemption date, all of
<br />the redeemable bonds for which notice of redemption has been given.
<br />
<br />(c) Partial Redemution. If fewer than all of the Dutstanding bonds
<br />are called for redemption at one time, they shall be called in inverse order of
<br />their maturities, and if' fewer than all bonds of a single maturity are to be.
<br />redeemed, the selectiDn of bonds to be redeemed, Dr portions thereof in amounts
<br />of $5,000 or any integral multiple thereof, shall be made by ,lot by the Registrar
<br />in any manner which the Registrar may determine. In the case of a partial
<br />redemptiDn of bonds by lot when bonds of denominations greater than $5,000 are
<br />then outstanding, each $5,000 unit of princ.ipal thereof shall be treated as
<br />though it were . a separate bond of the denomination of $5,000. If it is
<br />determined that one or mDre, but not all of the $5,000 units of principal amount
<br />represented by a bond are to be called for redemption, then upon notice of
<br />redemption of a $5,000 unit or units, the registered owner of that bond shall
<br />surrender the bond to the Registrar (i) for payment of the redemption price of
<br />the $5,000 unit Dr units called for redemption (including, without limitation,
<br />the interest accrued tD the date fixed for redemption and any premium), and
<br />(ii) for issuance, without charge to the registered owner thereof,of a new bond
<br />or bonds of any authòrized denDminations or denominations in an aggregate
<br />prinèipal amDunt equal to the unmatured and unredeemed portion of, and bearing
<br />interest at the same rate and maturing Dn the same date as, the bond surrendered,
<br />
<br />(d) NDtice of RedemDtion. The notice of the call for redemption of
<br />bonds shall identify (i) by designation, letters, nuni.bers or Dther dis,tinguishing
<br />marks, the bDnds or pDrtions thereof to be redeemed, (ii) the redemptiDn price
<br />to be paid, (iii) the date fixed for redemption, and (iv) the place or places
<br />where the amounts due UpDn redemption are payable. The notice shall be given by
<br />the Registrar on behalf Df tþe City by mailing a copy of the redemption notice
<br />by first class mail, postage prepaid, at least 30 days priDr to the date fixed
<br />for redemption, to the registered Dwner of each bond subject to redemption in
<br />whole or in part at the registered owner' saddress shown on the Register
<br />maintained by the Registrar at the close of business on the 15th day preceding
<br />that mailing. Failure to receive notice by mail or any defect in that notice
<br />regarding any bond, however, shall not affect the validity of the proceedings for
<br />the redemptiDn of any bonds.
<br />
<br />(e) Pavment-of Redeemed Bonds. Notice having been mailed in the
<br />manner prDvided in the preceding paragraph of this ordinance, the bDnds and
<br />portions tgereof called for redemption shall become due arid payable on the
<br />redemption date, and, upon presentation and surrender thereDf at the place or
<br />places specified in that notice, shall be paid at the redemption p~ice, plus
<br />interest accrued to the redemption date. If moneys fDr the redemp~iDn of all of
<br />the bonds ßnd portiDns thereof tD be redeemed, together with interest accrued
<br />thereon to the redemption date, are held by the Registrar on the: redemption date,
<br />so as tD be available therefDr on that date and, if nDtice of redemption has been
<br />deposited in the mail as aforesaid, then from and after the redemption date those
<br />bonds and pDrtions the"reDf called for redemption shall cease to bear interest and
<br />no IDnger shall be considered to be outstanding. If those moneys shall not be
<br />so available on the redemption date, or that nDtice shall not have been deposited
<br />in the mail as aforesaid, those borids and portions thereof shall continue to bear
<br />interest, until they are paid, at the same rate as they would have borne had they
<br />riot been called for redemptiDn. All moneys held by the Registrar for the
<br />redemption of particular bonds shall be held in trust for the account of the
<br />registered owners thereof and shall be paid to them, respectively, upon
<br />presentation and surrender of thDse bonds,
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