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Notice of redemption, unless waived, is given by the Bond Registrar by mailing an official <br /> redemption notice by certified or registered mail, postage prepaid, not less than 30 days and not <br /> more than 60 days prior to the date fixed for redemption, to the Registered Owner of any bond to <br /> be redeemed at the address appearing on the Bond Register. The requirements for such notice <br /> shall be deemed to be complied with when notice is mailed as herein provided, regardless of <br /> whether or not it is actually received by the owner of any bond. <br /> If such notice has been given and if the City has set aside, on the date fixed for <br /> redemption, sufficient money for the payment of all bonds called for redemption, the bonds so <br /> called shall cease to accrue interest after such redemption date, and all such bonds shall no longer <br /> be deemed to be outstanding for any purpose, except that the Registered Owners thereof shall be <br /> entitled to receive payment of the redemption price and accrued interest to the redemption date <br /> from the money set aside for such purpose. <br /> The City hereby irrevocably covenants and agrees with the owner of this bond that it will <br /> include in its annual budget and levy taxes annually upon all the taxable property in the City within <br /> and as a part of the tax levy permitted to cities without a vote of the people and in amounts <br /> sufficient, together with all other moneys legally available therefor, to pay the principal of and <br /> interest on this bond as the same shall become due. The full faith, credit and resources of the City <br /> are hereby irrevocably pledged for the annual levy and collection of such taxes and the prompt <br /> payment of such principal and interest. <br /> The pledge of tax levies for repayment of principal of and interest on the bonds may be <br /> discharged prior to maturity of the bonds by making provisions for the payment thereof on the <br /> terms and conditions set forth in the Bond Ordinance. <br /> Bonds are interchangeable for bonds of any authorized denomination of equal aggregate <br /> principal amount and of the same interest rate and maturity upon presentation and surrender to <br /> the Bond Registrar <br /> The following abbreviations, when used in the inscription on the face of the within bond, <br /> shall be construed as though they were written out in full according to applicable laws or <br /> regulations. <br /> TEN COM - as tenants in common <br /> TEN ENT - as tenants by the entireties <br /> JT TEN - as joint tenants with right of survivorship <br /> and not as tenants in common <br /> -11- DOTOOL.DOC 94101119 <br />