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Section 3.04. Partial Redemption of Bonds. Upon surrender of any Bond redeemed in <br /> part only, the City shall execute and the Bond Registrar shall authenticate and deliver to the <br /> Registered Owner thereof, at the expense of the City, a new Bond or Bonds, of Authorized <br /> Denominations and of the same maturity, equal in aggregate principal amount to the unredeemed <br /> portion of the Bond surrendered. Notwithstanding the foregoing, during the Index Floating Rate <br /> Period, no surrender of the Bonds shall be made in the case of a partial redemption of the Bonds. <br /> Section 3.05. Effect of Redemption. Notice of redemption having been duly given as <br /> aforesaid and not having been rescinded as provided herein, on the redemption date designated in <br /> such notice, the Bonds (or portions thereof) so called for redemption shall become due and <br /> payable at the Redemption Price specified in such notice together with interest accrued thereon, <br /> if any, to the redemption date. If moneys for payment of the Redemption Price of, together with <br /> interest accrued thereon, if any, to the redemption date on the Bonds (or portions thereof) so <br /> called for redemption are then held by the Bond Registrar, interest on the Bonds (or portions <br /> thereof) so called for redemption shall cease to accrue, said Bonds (or portions thereof) shall <br /> cease to be entitled to any benefit or security under this ordinance, and the Registered Owners <br /> and Beneficial Owners of said Bonds shall have no rights in respect thereof except to receive <br /> payment of said Redemption Price and accrued interest, if any. <br /> All Bonds redeemed pursuant to the provisions of this Article, if any, shall be canceled <br /> upon surrender thereof in accordance with the Bond Registrar's customary procedures. <br /> The Bond Registrar shall notify the Liquidity Facility Provider and the Credit Facility <br /> Provider that are redeemed pursuant to this Article III on a given redemption date occurring prior <br /> to the Expiration Date of such Liquidity Facility or Credit Facility promptly after such <br /> redemption date and shall submit to such Liquidity Facility Provider or Credit Facility Provider <br /> -56- P 120287 CMNA20287 AMT 10/14/14 <br />