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Registrar, will be sufficient to redeem the Bonds for which notice of redemption has been
<br />given.
<br />(iii) Parfial Redemption. If fewer than all of the outstanding Bonds are called for
<br />optional redemption at one time, they shall be called as selected by, and in a manner
<br />determined by the City. If fewer than all Bonds of a single maturity are to be redeemed, the
<br />selection of the Bonds to be redeemed, or portions thereof in Authorized Denominations
<br />shall be made by the Bond Registrar by lot in a manner determined by the Bond Registrar.
<br />In the case of partial redemption of Bonds by lot when Bonds in denominations greater than
<br />$5,000 are then outstanding, each $5,000 unit of principal shall be treated as if it were a
<br />separate Bond of the denomination of $5,000. If it is determined that one or more, but not
<br />all, of the $5,000 units of principal amount represented by a Bond are to be called for
<br />redemption, then upon notice of a redemption of a $5,000 unit or units, the registered owner
<br />of that Bond shall surrender the Bond to the Bond Registrar (a) for payment of the
<br />redemption price of the $5,000 unit or units of principal amount called for redemption
<br />(including, without limitation, the interest and accrued interest to the redemption date), and
<br />(b) issuance, without charge to the registered owner, of a new Bond or Bonds of any
<br />Authorized Denomination or Denominations in an aggregate principal amount equal to the
<br />unrnatured and unredeemed portion of, and bearing interest at the same rate and maturing on
<br />the same date as, the Bond surrendered.
<br />(iv) Notice of Redemption. The notice of the call for redemption of Bonds shall
<br />identify (A) by designation, letters, numbers or other distinguishing marks, the Bonds or
<br />portions thereof to be redeemed, (B) the redemption price to be paid, (C) the date fixed for
<br />redemption,. and (D) the place or places where the amounts due upon redemption are
<br />payable. The notice shall be given by the Bond Registrar on behalf of the City by mailing a
<br />copy of the redemption notice by first class mail, postage prepaid, at least 30 days prior to
<br />the date fixed for redempfion, to the registered owner of each Bond subject to redemption in
<br />whole or in part at the registered owner's address shown on the Bond Register maintained.
<br />by the Bond Registrar at the close of business on the fifteenth day preceding that mailing.
<br />Failure to receive notice by mail or any defect in that notice regazding any Bond, however,
<br />shall not affect the validity of the proceedings for the redemption of any Bond.
<br />(v) Payment of Redeemed Bonds. Notice having been mailed in the manner
<br />provided in the preceding paragraph hereof, the Bonds and portions thereof called for
<br />redemption shall become due and payable on the redempfion date, and, upon presentation
<br />and surrender thereof at the place or places specified in that notice, shall be paid at the
<br />redemption price, plus interest accrued to the redemption date. If money for the redemption
<br />of all of the Bonds and portions thereof to be redeemed, together with interest accrued
<br />thereon to the. redemption date, is held by the Bond Registrar on the redemption date, so as
<br />to be available therefore on that date and, if notice of redemption has been deposited in the
<br />mail as aforesaid, then from and after the redemption date those Bonds and portions thereof
<br />called for redemption shall cease to bear interest and no longer shall be considered to be
<br />outstanding. If that money shall not be so available on the redempfion date, or that notice
<br />shall not have been deposited in the mail as aforesaid, those Bonds and portions thereof shall
<br />continue to bear interest, until they are paid, at the same rate as they would have borne had
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