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<br />Upon a reduction in the aggregate principal amount <br />of a Global Certificate, the Holder may make a notation of <br />such redemption on the panel provided on the Global <br />Certificate stating the amount so redeemed, or may return the <br />Global Certificate to the Bond Registrar in exchange for a new <br />Global Certificate authenticated by the Bond Registrar, in <br />proper principal amount. Such notation, if made by the <br />Holder, shall be for reference only, and may not be relied <br />upon by any other person as being in any way determinative of <br />the principal amount of such Global Certificate outstanding, <br />unless the Bond Registrar has signed the appropriate column of <br />the panel. <br /> <br />To effect a partial redemption of Replacement Bonds <br />having a common maturity date, the Bond Registrar prior to <br />giving notice of redemption shall assign to each Replacement <br />Bond having a common maturity date a distinctive number for <br />each $5,000 of the principal amount of such Replacement Bond. <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 />