9523-04 Authorizing the Acquistion, COnstuction and, Installation of Certain Additions

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consultation with Crowe Chizek, is hereby authorized and directed to determine the terms governing any such redemption. (b) Notice of redemption shall be given not less than 30 days prior to the date of redemption and shall be mailed by first-class mail or by registered or certified mail to the address of each registered owner of a 2004 Bond to be redeemed as shown on the Registration Record 45 days prior to the date fixed for redemption, except to the extent such redemption notice is waived by owners of 2004 Bonds redeemed; provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any 2004 Bond shall not affect the validity of any proceedings for the redemption of any other 2004 Bonds. The notice shall specify the date and place of redemption, the redemption price and the CUSIP numbers of the 2004 Bonds called for redemption. The place of redemption may be determined by the City. Interest on the 2004 Bonds so called for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named, and thereafter, such 2004 Bonds shall no longer be protected by this Ordinance and shall not be deemed to be outstanding hereunder, and the holders thereof shall have the right only to receive the redemption price. (c) If any 2004 Bond is issued as a term bond, the Paying Agent shall credit against the mandatory sinking fund requirement for the 2004 Bonds maturing as term bonds, and corresponding mandatory redemption obligation, in the order determined by the City, any 2004 Bonds maturing as term bonds maturing on the same date which have previously been redeemed (otherwise than as a result of a previous mandatory redemption requirement) or delivered to the Registrar for cancellation or purchased for cancellation by the Paying Agent and not theretofore applied as a credit against any redemption obligation. Each 2004 Bond maturing as a term bond so delivered or canceled shall be credited by the Paying Agent at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund date, and any excess of such amount shall be credited on future redemption obligations, and the principal amount of the 2004 Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, the Paying Agent shall credit only such 2004 Bonds maturing as term bonds to the extent received on or before the date forty-five (45) days preceding the applicable mandatory redemption date. (d) All 2004 Bonds which have been redeemed shall be canceled and shall not be reissued; provided, however, that one or more new registered 2004 Bonds shall be issued for the unredeemed portion of any 2004 Bond without charge to the holder thereof. (e) No later than the date fixed for redemption, funds shall be deposited with the Paying Agent to pay, and the Paying Agent is hereby authorized and directed to apply such funds to the payment of, the 2004 Bonds or portions thereof called for redemption, including accrued interest thereon to the redemption date. No payment shall be made upon any 2004 Bond or portion thereof called for redemption until such 2004 Bond shall have been delivered for payment or cancellation or the Registrar shall have received the items required by this Ordinance with respect to any mutilated, lost, stolen or destroyed 2004 Bond. SECTION 5. Appointment of Registrar and Paying Agent. Wells Fargo Bank, National Association, is hereby appointed to serve as registrar and paying agent for the 2004 Bonds -6-