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• maturing in the year 2015 so redeemed or canceled provided that the City has notified the <br /> Register not less than thirty-five(35) days prior to the redemption date of its election to apply <br /> such Bonds as a credit. <br /> (f) At least thirty days prior to the date set for redemption of any Bond, the City <br /> shall cause notice of the call for redemption to be mailed to the Registrar and to the registered <br /> owner of each Bond to be redeemed, but no defect in or failure to give such mailed notice of <br /> redemption shall affect the validity of proceedings for the redemption of any Bond not affected <br /> by such defect or failure. The notice of redemption shall specify the redemption date, <br /> redemption price, the numbers, interest rates and CUSIP numbers of the Bonds to be redeemed <br /> and the place at which the Bonds are to be surrendered for payment, which is the principal office <br /> of the Registrar. Official notice of redemption having been given as aforesaid, the Bonds or <br /> portions thereof so to be redeemed shall, on the redemption date, become due and payable at the <br /> redemption price therein specified and from and after such date (unless the City shall default in <br /> the payment of the redemption price) such Bonds or portions thereof shall cease to bear interest. <br /> Bonds in a denomination larger than $5,000 may be redeemed in part in any <br /> integral multiple of$5,000. The owner of any Bond redeemed in part shall receive without <br /> charge, upon surrender of such Bond to the Registrar, one or more new Bonds in authorized <br /> denominations equal in principal amount to be unredeemed portion of the Bond so surrendered. <br /> 3.06. Preparation and Delivery. The Bonds shall be prepared under the direction <br /> • of the City Manager and shall be executed on behalf of the City by the signatures of the Mayor <br /> and the City Manager; provided that said signatures may be printed, engraved, or lithographed <br /> facsimiles thereof. In case any officer whose signature, or a facsimile of whose signature, shall <br /> appear on the Bonds shall cease to be such officer before the delivery of any Bond, such <br /> signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if <br /> such officer had remained in office until delivery. Notwithstanding such execution, no Bond <br /> shall be valid or obligatory for any purpose or entitled to any security or benefit under this <br /> Resolution unless and until a certificate of authentication on such Bond has been duly executed <br /> by an authorized representative of the Registrar. Certificates of authentication on different <br /> Bonds need not be signed by the same representative. The executed certificate of authentication <br /> on each Bond shall be conclusive evidence that it has been authenticated and delivered under this <br /> Resolution. When the Bonds have been so executed and authenticated, they shall be delivered <br /> by the City Manager to the Purchaser upon payment of the purchase price in accordance with the <br /> contract of sale heretofore made and executed, and the Purchaser shall not be obligated to see to <br /> the application of the purchase price. <br /> 3.07. Securities Depositorx. (a) For purposes of this Section the following terms <br /> shall have the following meanings: <br /> "Beneficial Owner" shall mean, whenever used with respect to a Bond, the person <br /> in whose name such Bond is recorded as the beneficial owner of such Bond by a Participant on <br /> the records of such Participant, or such person's subrogee. <br /> • <br /> -12- <br />