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<br />The Bond Registrar shall then select by lot, using such method <br />of selection as it shall deem proper in its discretion, from <br />the numbers so assigned to such Replacement Bonds, as many <br />numbers as, at $5,000 for each number, shall equal the <br />principal amount of such Replacement Bonds to be redeemed. <br />The Replacement Bonds to be redeemed shall be the Replacement <br />Bonds to which were assigned numbers so selected; provided, <br />however, that only so much of the principal amount of each <br />such Replacement Bond of a denomination of more than $5,000 <br />shall be redeemed as shall equal $5,000 for each number <br />assigned to it and so selected. <br /> <br />If a Replacement Bond is to be redeemed only in <br />part, it shall be surrendered to the Bond Registrar (with, if <br />the City or the Bond Registrar so requires, a written <br />instrument of transfer in form satisfactory to the City and <br />the Bond Registrar duly executed by the Holder thereof or his <br />attorney duly authorized in writing) and the City shall <br />execute (if necessary) and the Bond Registrar shall <br />authenticate and deliver to the Holder of such Replacement <br />Bond, without service charge, a new Replacement Bond or Bonds <br />of the same series having the same stated maturity and <br />interest rate and of any authorized denomination or <br />denominations, as requested by such Holder, in aggregate <br />principal amount equal to and in exchange for the unredeemed <br />portion of the principal of the Bond so surrendered. <br /> <br />The Bond Registrar shall call Bonds for redemption <br />and payment as herein provided upon receipt by the Bond <br />Registrar at least forty-five (45) days prior to the <br />redemption date of a request of the Council, in written form <br />if the Bond Registrar is other than a City official. Such <br />request shall specify the principal amount of Bonds to be <br />called for redemption and the redemption date. <br /> <br />Published notice of redemption shall in each case be <br />given in accordance with law, and mailed notice of redemption <br />shall be given to the paying agent (if other than a City <br />officer) and to each affected Holder. If and when the City <br />shall call any of the Bonds for redemption and payment prior <br />to the stated maturity thereof, the Bond Registrar shall give <br />written notice in the name of the City of its intention to <br />redeem and pay such Bonds at the office of the Bond Registrar. <br />Notice of redemption shall be given by first class mail, <br />postage prepaid, mailed not less than thirty (30) days prior <br />to the redemption date, to each Holder of Bonds to be <br />redeemed, at the address appearing in the Bond Register. All <br />notices of redemption shall state: <br /> <br />8 <br />