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Term Bonds of the same maturity to be redeemed on the same date by <br />operation of the Mandatoxy Sinking Fund Redemption Requirements. <br />Bonds to be redeemed pursuant to this paragraph shall 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 />redempxion date and the principal amount of each maturity of Bonds <br />to be xedeemed, 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 Registrar. <br />(iii) Partial Redem tion. If fewer than all 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 all 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 shall 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 all, 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 urut or units, <br />the registered owner of that Bond shall surrender the Bond to the <br />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 <br />redemption and any premium), and (ii) for issuance, without charge to <br />the registered owner, of a new Bond or Bonds of any Authorized <br />Denomination or Denominations in an aggregate principal amount <br />equal to the unmatured and unredeemed portion of, and bearing <br />interest at the same rate and maturing on the same date as, the Bond <br />surrendered. <br />(iv) Notice of Redem tp ion. The notice of the call for <br />redemption of Bonds shall identify (A) by designation, letters, <br />numbers or other distinguishing marks, the Bonds or portions thereof <br />to be redeemed, (B) the redemption price to be paid, (C) the date fixed <br />for redemption, and (D) the place or places where the amounts due <br />upon redemption are payable. The notice shall be given by the Bond <br />Registrar on behalf of the City by mailing a copy of the redemption <br />notice by first class mail, postage prepaid, at least 30 days prior to the <br />date fixed for redemption, to the registered owner of each Bond <br />-9-