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Section 6. PAYMENT ON BONDS. The principal and interest on <br />the bonds shall be payable at the office of the Bank of America <br />National Trust and Savings Association, P. O. Box 37000, San <br />Francisco, California 94137. Principal and interest shall be <br />paid by check mailed to the registered owner of each bond at the <br />owner's address appearing on the register maintained by the Bank <br />on the 15th day preceding the date of payment. <br /> <br /> Upon the payment and cancellation of any bond, the bond <br />shall be destroyed and the Bank shall furnish the City a <br />certificate of destruction. <br /> <br /> Section 7. ADVANCE RETIREMENT OF BONDS. Any Bond or any <br />portion thereof in the amount of $5,000 or any integral multiple <br />thereof, may be redeemed and paid in advance of maturity upon the <br />second day of March or September in any year by giving at least <br />30 days' notice by registered or certified mail or by personal <br />service to the registered owner thereof at such owner's address <br />as it appears on the registration books of the Bank and by paying <br />principal and accrued interest together with a premium equal to <br />three percentum of the principal. <br /> <br /> Section 8. REREGISTRATION. Any bond may be registered to a <br />new owner by completing the assignment certificate on the reverse <br />of the bond and delivering the bond to the Bank. Upon <br />reregistration, any bond may be replaced by one or more bonds of <br />the same maturity and aggregate amount in denominations of $5000 <br />or any integral multiple thereof. <br /> <br /> <br />