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-4- (b) The Bonds maturing on and after March 15, 2012 (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 March 15, 2011, in whole or in part from time to time on any 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 to be redeemed shall be selected by lot), at a redemption price equal to the principal amount thereof, together with the interest accrued thereon to the date fixed for the redemption thereof. 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, number and maturity of such Bond, the date and place or places fixed for its 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 or Bonds issued equalling 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 shall have been given as aforesaid, and payment of the principal amount of such Bond (or the portion of the principal amount thereof to be redeemed) and of the accrued interest 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 designated 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 the Director of Finance of the City, 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 deposit submitted by the Purchaser, 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. 0 376345.1 022828 RFS