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and not theretofore repaid to the Bank, plus accrued interest thereon at the Bank Interest Rate to <br /> the Redemption Date. <br /> Section 3.04. Selection of Bonds for Redemption. Whenever fewer than all the <br /> Outstanding Bonds are to be redeemed, the Bonds to be redeemed shall be selected in accordance <br /> with the operational arrangements of DTC referred to in the Letter of Representations. <br /> Notwithstanding the foregoing, Bank Bonds shall in all cases be redeemed first. In no event shall <br /> any Bond be Outstanding in a principal amount that is not an Authorized Denomination. <br /> Section 3.05. Notice of Redemption. For so long as the book entry-system is in effect, <br /> notice of redemption shall be provided in accordance with the operational arrangements of DTC <br /> referred to in the Letter of Representations, and no additional published or other notice shall be <br /> provided by the City;provided, however, that the Bank and the Remarketing Agent shall be given <br /> prior written notice of any proposed redemption of Bonds. In any event, notice of redemption <br /> shall be given by the City to the Registrar who shall give notice to DTC at least 30 days prior to <br /> the proposed date of redemption during the Fixed Mode and at least 15 days for the Weekly <br /> Mode. <br /> Section 3.06. Effect of Redemption. If notice of redemption has been duly given and <br /> money for the payment of the Redemption Price of the Bonds or portions thereof to be redeemed <br /> is held by the Registrar, then on the Redemption Date the Bonds or portions thereof so called for <br /> redemption shall become payable at the Redemption Price specified in such notice; and from and <br /> after the Redemption Date, interest thereon or on portions thereof so called for redemption shall <br /> cease to accrue, such Bonds or portions thereof shall cease to be Outstanding and to be entitled to <br /> any benefit, protection or security hereunder and the Owners of such Bonds or portions thereof <br /> shall have no rights in respect thereof except to receive payment of the Redemption Price upon <br /> -32- P\CMW\CMW4ZL 11/20/01 <br />