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148 <br />COUNCIL MEETING <br />October 15, 1985 <br />Page -13- <br />ON REVERSE OF BOND <br />• <br />All Bonds of this issue are subject to redemption and <br />prepayment at the option of the Issuer on November 1, 1987 or <br />May 1, 1988 at par and accrued interest. Redemption may be in <br />whole or in part of the Bonds subject to prepayment. If redemp- <br />tion is in part, the specific Bonds to be prepaid shall be chosen <br />by lot by the Bond Registrar. Published notice of redemption <br />shall in each case be given in accordance with law, and mailed <br />notice of redemption shall be given to the paying agent and to <br />the Holders of the Bonds. <br />To effect a partial redemption of Bonds having a <br />common maturity date, the Bond Registrar shall assign to each <br />Bond having a common maturity date, a distinctive number for <br />each $5,000 of the principal amount of such Bond. The Bond <br />Registrar shall then select by lot, using such method of <br />selection as it shall deem proper in its discretion from the <br />numbers assigned to the Bonds, as many numbers as, at $5,000 <br />for each number, shall equal the principal amount of such Bonds <br />to be redeemed. The Bonds to be redeemed shall be the Bonds to <br />which were assigned numbers so selected; provided, however, <br />that only so much of -the principal amount of such Bond of a <br />denomination of more 'than $5,000 shall be redeemed as shall <br />equal $5,000 for each number assigned to it and so selected. <br />If a Bond is to be redeemed only in part, it shall be <br />surrendered to the Bond Registrar (with, if the Isstler or the <br />Bond Registrar so requires, a written instrument of transfer in <br />form satisfactory to the Issuer and the Bond Registrar duly <br />executed by the Holder thereof or his attorney duly authorized <br />in writing) and the Issuer shall execute and the Bond Registrar <br />shall authenticate and deliver to the Holder of such Bond, <br />without service charge, a new Bond or Bonds of the same series <br />having the same stated maturity and interest rate and of any <br />authorized denomination or denominations, as requested by such <br />Holder, in aggregate principal amount equal to and in exchange <br />for the unredeemed portion of the principal of the Bond so <br />surrendered. <br />1 <br />