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270 (b) The Bonds maturing on and after February t 5, 2005 (or portions thereof in installments of $5,000) shall be subject to redemption at the option of the City prior to their stated maturities, on or after February 15. 2004, in whole at any time, or in part on any interest payment date, from any moneys that may be made available for such purpose, in such order as may be determined by the City (except that if at any time less than all of the Bonds of a given maturity are called for redemption, the particular Bonds or portions thereof in installments of $5,000 of such maturity to be redeemed shall be selected by lot), upon payment of the principal amount of the Bonds (or portions thereof in installments of $5,000) to be redeemed, together with the interest accrued thereon to the date fixed for redemption, plus a premium of one-quarter (1/4) of one percent (1%) of the principal amount of each Bond to be redeemed for each twelve (12) month period or fraction thereof from and excluding the date fixed for redemption to and including the stated maturity date of such Bond; provided, however, that in no event shall such premium shall exceed two percent (2%) of such principal amount. If any Bond (or any portion of the principal amount thereof in installments of $5,000) shall be called for redemption, notice of the redemption thereof, specifying the date, premium, if any, payable upon such redemption, and if less than the entire principal amount of such Bond is to be redeemed, that such Bond must be surrendered in exchange for the principal amount thereof to be redeemed and a new Bond must be surrendered in exchange for the principal amount thereof to be redeemed and a new Bond or Bonds issued equaling in principal amount that portion of the principal amount thereof not to be redeemed, shall be mailed not less than thirty (30) days prior to the date fixed for redemption by first class mail, postage prepaid, to the registered owner of such Bond at his address as it appears on the books of registry kept by the Registrar for the Bonds as of the close of business on the forty-fifth (45th) day next preceding the date fixed for redemption. If notice of the redemption of any Bond (or the portion of the principal amount thereof to be redeemed) and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made or provided for, interest on such Bond shall cease to accrue from and after the date so specified for redemption thereof. 5. The Bonds are hereby desio~qated as "qualified tax-exempt obligations" for purposes of Section 265 of the code. 6. The Bonds shall, as soon as practicable, be prepared, executed and delivered at the expense of the City to the Purchaser in accordance with the provisions of the Bond Ordinance, the Detailed Notice of Sale and this resolution and upon payment of the balance of the purchase price for the Bonds. 7. The appointment of Crestar Bank in the City of Richmond, Virginia, as Registrar and Paying Agent for the Bonds, is hereby approved, ratified and confirmed. 8. The City Treasurer is directed to deposit the good faith check submitted by the Purchaser with the Proposal, or in lieu thereof the proceeds of the Surety Bond, and to apply the amount thereof to the purchase price of the Bonds in accordance with the terms of the Detailed Notice of Sale. The good faith checks accompanying unsuccessful proposals shall be returned to the firms submitting such proposals forthwith. 9. The City Attorney of the City is hereby directed to file a copy of this resolution, certified by the Clerk of Council of the City to be a true and correct copy hereof, with the Clerk of the Circuit Court of the City of Charlottesville, Virginia 10. This resolution shall take effect upon its adoption. LUNCHEON MEETING WITH SCHOOL BOARD Mr. Vandever stated that Council had discussed the possibility of funding the Families Learning Together program with FY 93/94 cigarette tax revenue and but there