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Section 4. Redemption Prior to Maturity and Purchase of Bonds. <br /> (a) Optional Redemption. The Bonds shall be subject to optional redemption on the <br /> dates, at the prices and under the terms set forth in the Notice of Sale approved by the Chief <br /> Financial Officer pursuant to Section 11 of this ordinance. <br /> (b) Mandatory Redemption. The Bonds shall be subject to mandatory redemption to <br /> the extent, if any, set forth in the Approved Bid and as approved by the Chief Financial Officer <br /> pursuant to Section 11 of this ordinance. <br /> (c) Purchase of Bonds. The City reserves the right to purchase any of the Bonds <br /> offered to it at any time at a price deemed reasonable by the Chief Financial Officer. <br /> (d) Selection of Bonds for Redemption. For as long as the Bonds are held in <br /> book-entry only form, the selection of particular Bonds within a maturity to be redeemed shall be <br /> made in accordance with the operational arrangements then in effect at DTC. If the Bonds are no <br /> longer held in uncertificated form, the selection of such Bonds to be redeemed and the surrender <br /> and reissuance thereof, as applicable, shall be made as provided in the following provisions of <br /> this subsection (d). If the City redeems at any one time fewer than all of the Bonds having the <br /> same maturity date, the particular Bonds or portions of Bonds of such maturity to be redeemed <br /> shall be selected by lot (or in such manner determined by the Bond Registrar) in increments of <br /> $5,000. In the case of a Bond of a denomination greater than $5,000, the City and the Bond <br /> Registrar shall treat each Bond as representing such number of separate Bonds each of the <br /> denomination of$5,000 as is obtained by dividing the actual principal amount of such Bond by <br /> $5,000. In the event that only a portion of the principal sum of a Bond is redeemed, upon <br /> surrender of such Bond at the principal office of the Bond Registrar there shall be issued to the <br /> Registered Owner, without charge therefor, for the then unredeemed balance of the principal sum <br /> -12- 502395238 v2 <br />