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<br />, (b) OPtional Redemption, The Bopds shall be subject to redemption
<br />prior to maturity by and at the option of the City, in whole at any time, or in part on any Interest
<br />Payment Date, on the dates and for the prices specified in the Certificate of Award, provided,
<br />however, that the Fiscal Officer may detennine in the Certificate' of Award that it is in the best
<br />interest of the City that the Bonds not be subject to redemption prior to maturity If the Bonds
<br />are subject to optional redemption prior to maturity, the maximum redemption price shall be no
<br />greater that 103% of the principal amount redeemed,- plus accrued interest to the redemption
<br />date
<br />
<br />If optional redemption at a price exceeding 100% of the principal amount to be
<br />redeemed is to tëke place as of any appjicable Mandatory Redemption Date, !he Bonds, or
<br />portions !hereof, to be redeemed optionally shall be selected by lot prior to fue selection by lot of
<br />the Bonds to be redeemed on the same date by operation of the Mandatory Sinking Fund
<br />Redemption Requirements of paragraph (a) of fuis Seétion, The Bonds shall be redeemed
<br />pursuant to this paragraph (b) only upon written notice ITom !he Fiscal Officer to !he Registrar,
<br />given, upon the dîrection of the Council of the City by passage of an ordinance" That notice shall
<br />specify the redemption date and the principal amount of each maturity of Bonds to be redeemed,
<br />and shall be given at least 45 days prior to the redemption date or such shorter period as shall be
<br />acceptable to the Registrar. In the event that notice of redemption shall have been given by the
<br />Registrar to the registered owners as hereinafter provided, there shall be deposited with the
<br />Registrar on or prior to the redemption date, funds which, in addition to any other moneys
<br />available therefor and held by the Registrar, will be sufficient to redeem at the redemption price
<br />thereof, plus interest accrued to the redemption date, all of the redeemable Bonds for which
<br />notice of redemption has been given,
<br />
<br />(c) Partial Redemption, If fewer fuan all of the outstanding Bonds are
<br />called for redemption at one time, they may be called in any order of their maturities, as
<br />determined by fue Fiscal Officer, and if fewer than all gonds of a single maturity are to be
<br />redeemed, the selection of Bonds to be redeemed, or portions thereof in amounts of $5,000 or
<br />a,ny integral mulüple thereof, shall be made by lot by fue Registrar in any manner which fue
<br />Registrar may determine In fue case of a partial redemption of Bonds by lot when Bonds of
<br />denominations greater !han $5,000 are then outstanding, each $5,000 unit of principal !hereof
<br />shall be treated as fuough it were a separate Bond of !he denomination of $5,000 If it is
<br />detennined !hat one or more, but not all of !he $5,000 units of principal represented by a Bond
<br />are to be called for redemption, then upon notice of redemption of a $5;000 unit or units, the
<br />registered owner of !hat Bond shall surrender !he Bond to !he Registrar (i) for payment of the
<br />redemption price of the $5,000 unit 'Or units called for redemption (including, without limitation,
<br />the interest accrued to the date fixed for redemption and any premium), and (ìi) for issuance,
<br />without charge to the registered owner thereof, of a new Bond or Bonds of any authorized
<br />denominations or denominations in an aggregate principal amount equal to the unmatured and
<br />unredeemed portion of, and bearing interest at the same rate and maturing on the same date as,
<br />the Bond surrendered:
<br />
<br />(d) Notice of RedemDtion. The notice of the call for redemption of
<br />Bonds shall jdentifY (i) by designation, Mters, numbers or o!her distinguishing marks, fue gonds
<br />or portions thereof to be redeemed, (ii) the redemption price to be paid, (iii) the date fixed for
<br />redemption, and (iv) the place or places where the amounts due upon redemption are payable,
<br />The notice shall be given by fue Registrar on behalf of !he City by mailing a copy of !he
<br />redemption notice by first dass mail, postage prepaid, at least 30 days prior to the date fixed for
<br />redemption; to the registered owner of each Bond subject to redemption in whole orin part at the
<br />registered owner's address shown on the Register maintained by the Registrar at the close of
<br />business on the 15th day preceding that mailing, Failure to receive notice by mail or any defect
<br />in !hat notice regarding any Bond, however, shall not affect fue validity of !he proceedings for
<br />the redemption of any Bonds
<br />
<br />(e) Pavment of Redeemed Bonds Notice having been mailed in !he
<br />matlller provided in the preceding paragraph of this Ordinance, the Bonds and po¢ons thereof
<br />called for recÌemption shall become due and payable on the redemption date, and; upon
<br />presentation and surrender thereof at the place or places specified in that notice, shall he paid at
<br />the redemption price, plus interest accrued to the redemption date. If moneys for the redemption
<br />of all of the Bonds and portions thereof to be redeemed, together with interest accrued thereon to
<br />
<br />{CTOl24;l}
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