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and prepayment at the option of the City on March 1, <br /> 2005, and on any date thereafter at a price of par plus <br /> accrued interest. Redemption may be in whole or in <br /> part of the Bonds subject to prepayment. If redemption <br /> is in part, those Bonds remaining unpaid which have the <br /> latest maturity date shall be prepaid first; and if <br /> only part of the Bonds having a common maturity date <br /> are called for prepayment, the specific Bonds to be <br /> prepaid shall be chosen by lot by the Bond Registrar. <br /> Bonds or portions thereof called for redemption shall <br /> be due and payable on the redemption date, and interest <br /> thereon shall cease to accrue from and after the <br /> redemption date. Notice of redemption shall be given <br /> by certified or registered mail at least thirty (30) <br /> days prior to the date fixed for redemption to the <br /> paying agent and to each affected registered holder of <br /> the Bonds. <br /> To effect a partial redemption of Bonds having a common <br /> maturity date, the Bond Registrar prior to giving notice of <br /> redemption shall assign to each Hone having a common maturity <br /> date a distinctive number for each $5, 000 of the principal amount <br /> of such Bond. The Bond Registrar shall then select by lot, using <br /> such method of selection as it shall deem proper in its discre- <br /> tion, from the numbers so assigned to such Bonds, as many numbers <br /> as, at $5, 000 for each number, shall equal the principal amount <br /> of such Bonds to be redeemed. The Bands to be redeemed shall be <br /> the Bonds to which were assigned numbers so selected; provided, <br /> however, that only so much of the principal amount of each such <br /> Bond of a denomination of more than $5, 000 shall be redeemed as <br /> shall equal $5, 000 for each number assigned to it and so <br /> selected* If a Bond is to be redeemed only in part, it shall be <br /> surrendered to the Bond registrar (with, if the city or Bond <br /> Registrar so requires, a written instrument of transfer in form <br /> satisfactory to the city and Bond Registrar duly executed by the <br /> holder- thereof or his, her or its attorney duly authorized in <br /> writing) and the city shall execute (if necessary) and the Bond <br /> Registrar shall authenticate and deliver to the Holder of such <br /> Bond, without service charge, a new Bond or Bonds of the same <br /> series having the same stated maturity and interest rate and of <br /> any Authorized Denomination or Denominations, as requested by <br /> such Holder, in aggregate principal amount equal to and in <br /> exchange for the unredeemed portion of the principal of the Bond <br /> so surrendered. <br /> Bond registrar. The Treasurer/Finance Director of <br /> the city is appointed to act as bond registrar and <br /> transfer agent with respect to the Bonds (the "Bond <br /> Registrar") , and shall do so unless and until a <br /> successor Bond registrar is duly appointed, all <br /> pursuant to any contract the City and Bond registrar <br /> shall execute which is consistent herewith. The Bond <br /> Registrar shall also serve as paying agent unless and <br /> until a successor paying agent is duly appointed, <br /> Principal and interest on the Bonds shall be paid to <br /> the registered holders (or records holders) of the Bonds <br /> 1006009.1 8 <br />