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1 on the Bond Register on the last business day of the month <br /> 2 preceding the interest payment date. Principal of the Bonds <br /> 3 shall be payable upon presentation and surrender of the Bonds by <br /> 4 the registered owners at either of the principal offices of the <br /> 5 Bond Registrar at the option of the owners . <br /> 6 Section 6 . The City reserves the right to redeem the Bonds <br /> 7 prior to their stated maturity on any interest payment date, in <br /> 8 numerical order , lowest numbers first, at par plus accrued <br /> 9 interest , whenever there shall be sufficient money in the Bond <br /> 10 Fund to pay the Bonds so called and all earlier numbered Bonds <br /> 11 over and above the amount required for the payment of the <br /> 12 interest on all unpaid Bonds . All Bonds redeemed under this <br /> 13 section shall be cancelled. <br /> 14 The City shall cause notice of any intended redemption of <br /> 15 the Bonds to be given not less than 30 nor more than 45 days <br /> 16 prior to the date fixed for redemption by first class mail , <br /> 17 postage prepaid, to the registered owner of any Bond to be <br /> 18 redeemed at the address appearing on the Bond Register at the <br /> 19 time the Bond Registrar prepares the notice, and the <br /> 20 requirements of this sentence shall be deemed to have been <br /> 21 fulfilled when notice has been mailed as so provided, whether or <br /> 22 not it is actually received by the owner of any Bond . Interest <br /> 23 on the Bonds called for redemption shall cease to accrue on the <br /> 24 date fixed for redemption unless the Bond or Bonds called are <br /> 25 not redeemed when presented pursuant to the call . In addition, <br /> - 5 - <br />