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Redemption <br />Redemption Dates Price <br />December 1, 2011 through November 30, 2012 102% <br />December l, 2012 through November 30, 2013 101 <br />December 1, 2013 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 <br />Term Bonds, the Term Bonds, or portions thereo? to be redeemed <br />optionally shall be selected by lot prior to the selection by lot of the <br />Term Bonds of the same maturity to be redeemed on the same date <br />by operation of the Mandatory Sinking Fund Redemption <br />Requirements. Bonds to be redeemed pursuant to this paragraph <br />shall be redeemed only upon written notice from the Director of <br />Finance to the Bond Registrar, given upon the direction of this <br />Council by adoption of a resolution or passage of an ordinance. That <br />notice shall specify the redemption date and the principal amount of <br />each maturity of Bonds to be redeemed, and shall be given at least 45 <br />days prior to the redemption date or such shorter period as shall be <br />acceptable to the Bond Registrar. <br />(iu) Partial Redemption. If fewer tlian 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 <br />called shall be Bonds of the maturity or maturities selected by the <br />City. If fewer than all of the Bonds of a single maturity are to be <br />redeemed, the selection of Bonds of that maturity to be redeemed, or <br />portions thereof in amounts of $5,000 or any integral multiple <br />thereo? shall be made by the Bond Registrar by lot in a manner <br />deterinined by the Bond Registrar. In the case of a partial <br />redemption of Bonds by lot when Bonds of denominations greater <br />than $5,000 are then outstanding, each $5,000 unit of principal <br />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 <br />all, ofthe $5,000 units ofprincipal amount represented by a Bond are <br />to be called for redemption, tlien, upon notice of redemption of a <br />$5,000 unit or units, the registered owner of that Bond shall <br />surrender the Bond to the Bond Registrar (i) for payment of the <br />redemption price of the $5,000 unit or units of principal amount <br />called for redemption (including, without limitation, the interest <br />accrued to the date fixed for redemption and any premium), and (ii) <br />for issuance, without charge to the registered owner, of a new Bond <br />ar Bonds of any Authorized Denomination ar Denominations in an <br />-7-