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<br /> Section 9. Redemption of Bonds. The bonds maturing on or prior to July 1, 1984 are not subject
<br />to call or redemption prior to maturity. The bonds maturing on or after July 1, 1985, are subject to call
<br />and redemption, at the option of the city, on July 1, 1984, or on any interest payment date thereafter
<br />prior to maturity, at a redemption price equal to the principal amount thereof plus a premium equal to
<br />one-quarter of one percent for each year or portion of a year from the redemption date to the maturity
<br />date thereof. All or any of the bonds subject to call may be called for redemption at any one time.
<br />If less than all of the bonds are redeemed at any one time, such bonds shall be redeemed in inverse
<br />order of maturity and by lot within a maturity. The interest payment date on which bonds are to be
<br />presented for redemption is herein sometimes called the "redemption date."
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<br /> Upon surrender of any fully registered bond redeemed in part only, the City shall execute and
<br />deliver to the registered owner thereof, at the expense of the City, a new bond or bonds of authorized
<br />denominations equal in aggregate principal amount to the unredeemed portion of the bond surrendered
<br />and of the same interest rate and maturity, which new bond or bonds may be, at the option of the
<br />registered owner, either in bearer or fully registered form. The registered owner of any fully registered
<br />bond may, in lieu of surrendering such bond, endorse on the reverse of such bond a notation of such
<br />partial redemption, in such form as may be satisfactory to the City and under such conditions as the
<br />City may approve. Such partial redemption shall be valid upon payment of the amount thereby required
<br />to be paid to such registered owner, and the City shall be released and discharged from all liability to
<br />the extent of such payment, irrespective of whether such endorsement shall or shall not have been made
<br />upon the reverse of such fully registered bond by such registered owner and irrespective of any error or
<br />omission in such endorsement.
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<br /> (a) Notiee of Redemption. Notice of the intended redemption shall be published by one insertion
<br />in a newspaper of general circulation in the County of Orange, California, and in a financial newspaper
<br />or journal of national cimulation published in the City of New York, New York, said publications to
<br />be at least 30 days but not more than 60 days prior to the redemption date. The notice of redemption
<br />shall (a) state the redemption date; (b) state the redemption price; (c) state the numbers and dates
<br />of maturity of the bonds to be redeemed, provided, however, that whenever any call includes all of the
<br />outstanding bonds of any maturity the numbers of the bonds need not be stated; (d) require that such
<br />bonds be surrendered with all interest coupons maturing subsequent to the redemption date at the
<br />office of the Director of Finance of the City of Santa Aha, in said City, or, at the option of the holder,
<br />at any paying agent of the City in Los Angeles or San Francisco, California, Chicago, Illinois, or in
<br />New York, New York; (e) state, as to any fully registered bonds redeemed impart only, the registered
<br />bond numbers and the principal portion thereof to be redeemed; and (f) give notice that further
<br />interest on such bonds will not accrue after the designated redemption date.
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<br /> The Director of Finance shall, on or before the date of publication of said notice of redemption,
<br />mail a similar notice, postage prepaid to the person, firm or corporation that originally purchased the
<br />bonds from the City.
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<br /> If any of the bonds designated for redemption shall be fully registered bonds, the Director of
<br />Finance shall, on or before the date of publication of said notice of redemption, mail a similar notice,
<br />postage prepaid, to the respective registered owners thereof at the addresses appearing on the bond
<br />registry books. If all of the bonds designated for redemption shall be fully registered bonds, the
<br />requirement for publication of notice as prescribed in this subparagraph (a), may be waived at the
<br />option of the Director of Finance.
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<br /> The actual receipt by the holder of any bond (hereinafter referred to as "bondholder") of notice
<br />of such redemption shall not be a condition precedent to redemption, and failure to receive such notice
<br />shall not affect the validity of the proceedings for the redemption of such bonds or the cessation of
<br />interest on the date fixed for redemption. The notice or notices required by this section shall be given
<br />by the Director of Finance. A certificate by the Director of Finance that notice of call and redemption
<br />has been given to original purchasers and to holders of fully registered bonds as herein provided shall
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