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<br />(ii) Optional Redemption. The Current Interest Bonds maturing on or <br />after December 1, 2011 sha11 be subject to redemption, by and at the sole <br />option of the City, on or after December 1, 2010, either in whole at any time <br />or in part on any Interest Payment Date, in integral multiples of $5,000, at <br />the following redemption prices (expressed as percentages of the principal <br />amount redeemed), plus accrued interest to the redemption date: <br />Redemption <br />Redemption Dates Price <br />December 1, 2010 through November 30, 2011 102% <br />December 1, 2011 through November 30, 2012 101 <br />December 1, 2012 and thereafter 100 <br />If optional redemption of Term Bonds at a redemption price <br />exceeding 100% of the principal amount to be redeemed is to take <br />place as of any Mandatory Redemption Date applicable to those Term <br />Bonds, the Term Bonds, or portions thereof, to be redeemed <br />optionally shall be selected by lot prior to the selection by lot of the <br />Term Bonds of the same maturiiy to be redeemed on the same date by <br />operation of the Mandatory Sinking Fund Redemption Requirements. <br />Bonds to be redeemed pursuant to this paragraph sha11 be redeemed <br />only upon written notice from the Director of Finance to the Bond <br />Registrar, given upon the direction of this Council by adoption of a <br />resolution or passage of an ordinance. That notice shall specify the <br />redemption date and the principal amount of each maturity of Bonds <br />to be redeemed, and shall be given at least 45 days prior to the <br />redemption date or such shorter period as shall be acceptable to the <br />Bond Registraz. <br />(iii) Partial Redemption. If fewer than a11 of the outstanding <br />Bonds are called for optional redemption at one time and Bonds of <br />more than one maturity are then outstanding, the Bonds that are called <br />shall be Bonds of the maturity or maturities selected by the City. If <br />fewer than a11 of the Bonds of a single maturity are to be redeemed, <br />the selection of Bonds of that maturity to be redeemed, or portions <br />thereof in amounts of $5,000 or any integral multiple thereof, shall be <br />made by the Bond Registrar by lot in a manner determined by the <br />Bond Registrar. In the case of a partial redemption of Bonds by lot <br />when Bonds of denominations greater than $5,000 are then <br />outstanding, each $5,000 unit of principal thereof sha11 be treated as if <br />it were a separate Bond of the denomination of $5,000. If it is <br />determined that one or more, but not a11, of the $5,000 units of <br />principal amount represented by a Bond are to be called for <br />redemption, then, upon notice of redemption of a$5,000 unit or units, <br />-9- <br />, ? „a . z a . ?_. .. ..? <br />?, ? ?«