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<br />Registrar by lot in a manner determined by the Bond Registrar. In the
<br />case of a partial redemption of Bonds by lot when Bonds of
<br />denominations greater than $5,000 are then outstanding, each $5,000 unit
<br />of principal thereof shall be treated as if it were a separate Bond of the
<br />denomination of $5,000. If it is determined that one or more, but not all,
<br />of the $5,000 units of principal amount represented by a Bond are to be
<br />called for redemption, then, upon notice of redemption of a $5,000 unit
<br />or units, the registered owner of that Bond shall surrender the Bond to
<br />the Bond Registrar (i) for payment of the redemption price of the $5,000
<br />unit or units of principal amount called for redemption (including,
<br />without limitation, the interest accrued to the date fixed for redemption),
<br />and (ii) for issuance, without charge to the registered owner, of a new
<br />Bond or Bonds of any Authorized Denomination or Denominations in an
<br />aggregate principal amount equal to the unmatured and unredeemed
<br />portion of, and bearing interest at the same rate and maturing on the
<br />same date as, the Bond surrendered.
<br />(iv) Notice of Redemption. The notice of the call for
<br />redemption of Bonds shall identify (A) by designation, letters, numbers
<br />or other distinguishing marks, the Bonds or portions thereof to be
<br />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
<br />redemption are payable. The notice shall be given by the Bond Registrar
<br />on behalf of the City by mailing a copy of the redemption notice by first
<br />class 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
<br />in whole or in part at the registered owner's address shown on the Bond
<br />Register maintained by the Bond Registrar at the close of business on the
<br />fifteenth day preceding that mailing. Failure to receive notice by mail or
<br />any defect in that notice regarding any Bond, however, shall not affect
<br />the validity of the proceedings for the redemption of any Bond.
<br />(v) Payment of Redeemed Bonds. In the event that notice of
<br />redemption shall have been given by the Bond Registrar to the registered
<br />owners as provided above, there shall be deposited with the Bond
<br />Registrar on or prior to the redemption date, moneys that, in addition to
<br />any other moneys available therefor and held by the Bond Registrar, will
<br />be sufficient to redeem at the redemption price thereof, plus accrued
<br />interest to the redemption date, all of the redeemable Bonds for which
<br />notice of redemption has been given. Notice having been mailed in the
<br />manner provided in the preceding paragraph hereof, the Bonds and
<br />portions thereof called for redemption shall become due and payable on
<br />the redemption date, and, subject to the provisions of subsection (d) of
<br />Section 3 and Section 5, upon presentation and surrender thereof at the
<br />place or places specified in that notice, shall be paid at the redemption
<br />price, plus accrued interest to the redemption date. If moneys for the
<br />redemption of all of the Bonds and portions thereof to be redeemed,
<br />together with accrued interest thereon to the redemption date, are held by
<br />the Bond Registrar on the redemption date, so as to be available therefor
<br />on that date and, if notice of redemption has been deposited in the mail
<br />as aforesaid, then from and after the redemption date those Bonds and
<br />portions thereof called for redemption shall cease to bear interest and no
<br />longer shall be considered to be outstanding. If those moneys shall not
<br />be so available on the redemption date, or that notice shall not have been
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