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? - 4 - If optional redemption at a redemption price exceeding 100% of the principal amount to be redeemed is to take place as of any applicable manda- tory redemption date identified in paragraph (a) hereof, the Bonds, or por.- tions thereof, to be redeemed shall be selected by lot prior to the selection by lot of the Bonds to be redeemed on the same date by operation of the manda- tory redemption provisions of paragraph (a). Bonds to be redeemed pursuant to this paragraph shall be redeemed only upon written notice from the City to the Bond Registrar, given upon the direction of the Councii by adoption of a reso- lution or ordinance. That notice shall specify the redemption date and the principal amount of each maturity of Bonds to be redeemed, and shall be given at least 45 days prior to the redemption date or such shorter period as shall be acceptable to the Bond Registrar. In the event that notice of redemption shall have been given by the Bond Registrar to the registered owners as here- inafter provided, there shail be deposited with the Bond Registrar on or prior to the redemption date, funds that, in addition to any other money availabl.e therefor and held by the Bond Registrar, will be sufficient to redeem at the redemption price thereof, plus interest accrued to the redemption date, all of the redeemable Bonds for which notice of redemption has been given. (c) Partiai Redemption. If fewer than all of the outstanding Bonds are called for redemption at one time, they shall be called in inverse order of their maturities. If fewer than all Bonds of a single maturity are to be redeemed, the selection of Bonds to be redeemed, or portions thereof in amounts of $5,000 or any integral multiple thereof, shall be made by the Bond Registrar by lot in a manner determined by the Bond Registrar. In the case of a partial redemption of Bonds by lot when Bonds of denominations greater than $5,000 are then outstanding, each $5,000 unit of principal thereof shall be treated as though it were a separate Bond of the denomination of $5,000. If it is determined that one or more, but not all of the $5,000 units of princ9.- pal amount represented by a Bond are to be called for redemption, then upon notice of redemption of a$5,000 unit or units, the registered owner of that Bond shall surrender the Bond to the Bond Registrar (i) for payment of the redemption price of the $5,000 unit or units called for redemption (including, without limitation, the interest accrued to the date fixed £or redemption and any premium), and (ii) for issuance, without charge to the registered owner thereof, of a new Bond or Bonds of any authorized denomination or denomina- tions in an aggregate principal amount equal to the unmatured and unredeemed portion of, and bearing interest at the same rate and maturing on the same date as, the Bond surrendered. (d) Notice of Redemption. The notice of the call £or redemption of Bonds shall identify (i) by designation, letters, numbers or other distin- guishing marks, the Bonds or portions thereof to be redeemed, (ii) the redemp- tion price to be paid, (iii) the date fixed for redemption, and (iv) the place or places where the amounts due upon redemption are payable. The notice shall be given by the Bond Registrar on behalf of the City by mailing a copy of the redemption notice by first class mail, postage prepaid, at least 30 days prior to the date fixed fo.r redemntion, to the registered owner of_ each Bond subject to redemption in whole or in part at the registered owner's address shown on the Bond Register maintained by the Bond Registrar at the close of business on the fifteenth day preceding that mailing. Failure to receive notice by mail or any defect in that notice regarding any Bond, however, shall not affect the validity of the proceedings for the redemption of any Bond.