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necessary to maintain the reserve required by the Ordinance. Such required payments shall <br /> constitute a first charge upon all the Net Revenues of the Works. <br /> [The Bonds maturing on and after 1, 20 , are redeemable at the option of <br /> the City on 1, 20 , or any date thereafter, on thirty (30) days' notice, in whole or <br /> in part, in inverse order of maturity and by lot within a maturity, at face value, together with the <br /> following premiums: <br /> % if redeemed on 1, 20 or thereafter on <br /> or before , 20_; <br /> % if redeemed on , 20 or thereafter <br /> prior to maturity; <br /> plus in each case accrued interest to the date fixed for redemption.] <br /> [Notice of redemption shall be mailed to the address of the Registered Owner as shown <br /> on the registration record of the City, as of the date which is forty-five (45) days prior to such <br /> redemption date, not less than thirty (30) days prior to the date fixed for redemption. The notice <br /> shall specify the date and place of redemption and sufficient identification of the Bonds called <br /> for redemption. The place of redemption may be determined by the City. Interest on the Bonds <br /> so called for redemption shall cease on the redemption date fixed in such notice, if sufficient <br /> funds are available at the place of redemption to pay the redemption price on the date so named.] <br /> [The Bonds shall be called for redemption in multiples of $5,000. The Bonds in <br /> denominations of more than $5,000 shall be treated as representing the number of Bonds <br /> obtained by dividing the denomination of the Bond by $5,000 within a maturity. The Bonds may <br /> be redeemed in part. In the event of the redemption of the Bonds in part, upon surrender of the <br /> Bond to be redeemed, a new Bond or Bonds in an aggregate principal amount equal to the <br /> unredeemed portion of the Bond surrendered shall be issued to the Registered Owner.] <br /> This bond is subject to defeasance prior to payment as provided in the Ordinance and the <br /> owner of this bond, by the acceptance hereof, hereby agrees to all the terms and provisions <br /> contained in the Ordinance. <br /> This bond is transferable or exchangeable only upon the books of the City kept for that <br /> purpose at the office of the Registrar by the Registered Owner in person, or by his attorney duly <br /> authorized in writing, upon surrender of this bond together with a written instrument of transfer <br /> or exchange satisfactory to the Registrar duly executed by the Registered Owner or his attorney <br /> duly authorized in writing, and thereupon a new fully registered bond or bonds in the same <br /> aggregate principal amount, and of the same maturity, shall be executed and delivered in the <br /> name of the transferee or transferees or the Registered Owner, as the case may be, in exchange <br /> therefor. The City, any registrar and any paying agent for this bond may treat and consider the <br /> person in whose name this bond is registered as the absolute owner hereof for all purposes <br /> including for the purpose of receiving payment of, or on account of, the principal hereof and <br /> interest due hereon. <br /> • <br /> B-3 <br />