Authorizing Issuance of Revenue Bonds concerning construction of Improvements to Waterworks, not to exceed $2,050,000

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agreements or understandings with such institution as will enable the institution to perform the services required of a Registrar and Paying Agent. The Fiscal Officer is further authorized to pay such fees and the institution may charge for the services its provides as Registrar and Paying Agent and such fees may be paid from the Sinking Fund established to pay the principal of and interest on the 1999 Bonds as fiscal agency charges. The Registrar and Paying Agent may at any time resign as Registrar and Paying Agent by giving thirty (30) days written notice to the City and by first-class mail to each registered owner of the 1999 Bonds then outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment of a successor Registrar and Paying Agent by the City. Such notice to the City may be served personally orsent byfirst-class or registered mail. The Registrar and Paying Agent may be removed at any time as Registrar and Paying Agent by the City, in which event the City may appoint a successor Registrar and Paying Agent. The City shall notify each registered owner of the 1999 Bonds then outstanding by first-class mail of the removal of the Registrar and Paying Agent. Notices to the registered owners of the 1999 Bonds shall be deemed to be given when mailed by first-class mail to the addresses of such registered owners as they appear on the Registration Record. Any predecessor Registrar and Paying Agent shall deliver all the 1999 Bonds, cash or investments related thereto in its possession and the Registration Record to the successor Registrar and Paying Agent. As to the BANS and the 1999 Bonds, if registered in the name of the State of Indiana, the Indiana Bond Bank or any other purchaser that does not object to such designation, the Fiscal Officer shall serve as Registrar and Paying Agent and is hereby charged with the duties of Registrar and Paying Agent. SECTION 6. Terms of Redem tp ion. The 1999 Bonds may be made redeemable at the option of the City, but no earlier than January 1, 2010 or any date thereafter, on sixty (60) days' notice, in whole or in part, in inverse order of maturity and by lot within a maturity, on dates and with premiums and other terms substantially as set forth in the form of 1999 Bonds in Section 9, as finally determined by the Executive and Fiscal Officer with the advice of the City's financial advisor, as evidenced by delivery of the executed initial issue of the 1999 Bonds to the Registrar for authentication. Notice of redemption shall be mailed by first-class mail to the address of each registered owner of a 1999 Bond to be redeemed as shown on the Registration Record not less than sixty (60) days prior to the date fixed for redemption except to the extent such redemption notice is waived by owners of 1999 Bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any 1999 Bond shall not affect the validity of any proceedings for the redemption of any other 1999 Bonds. The notice shall specify the date and place of redemption, the redemption price and the CUSIP numbers of the 1999 Bonds called for redemption. The place of redemption may be determined by the City. Interest on the 1999 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 1999 Bonds shall no longer be protected by this Ordinance and shall not be deemed -6-