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524
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<br />be redeemed shall be in the principal amount of $1,0000 or some multiple
<br />thereof and that, in selecting bonds for redemption, the Bond Registrar shall
<br />treat each bond as representing that number of bonds which is obtained by
<br />dividing the principal amount of such bond by $1,000. If less than all of the
<br />bonds stated to mature on different dates shall be called for redemption, the
<br />particular bonds or portions thereof to be redeemed shall be called in the
<br />inverse order of their maturities.
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<br /> Not more than sixty (60) nor less than thirty (30) days before the
<br />redemption date of any bonds to be redeemed, whether such redemption be in
<br />whole or in part, the Issuer shall cause a notice of such redemption to be
<br />filed with the Bond Registrar and to be mailed, postage prepaid, to the
<br />registered owner of each bond to be redeemed in whole or in part at his
<br />address appearing upon the registration books of the Issuer. Each such notice
<br />shall set forth the date designated for redemption, the redemption price to be
<br />paid, the maturities of the bonds to be redeemed and, if less than all of the
<br />bonds of any one maturity then outstanding shall be called for redemption, the
<br />distinctive numbers and letters, it any, of such bonds to be redeemed and, in
<br />the case of any bond to be redeemed in part only, the portion of the principal
<br />amount thereof to be redeemed. If any bond is to be redeemed in part only,
<br />the notice of redemption shall state also that on or after the redemption
<br />date, upon surrender of such bond, a new bond or bonds in principal amount
<br />equal to the unredeemed portion of such bond will be issued.
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<br /> The preceding provisions of this Section shall not apply to bonds awarded
<br />to the FmHA. If the FmHA is the purchaser of the bonds there will be issued
<br />two registered bonds as hereinafter provided, each of which bonds may be
<br />redeemed, at the option of the Issuer, at any time prior to the maturity of
<br />any installment of the principal thereof, either in whole or in part in the
<br />inverse order of the maturity dates of the installments of principal, from any
<br />moneys that may be made available for such purpose, at the aggregate principal
<br />amount of the installments of principal to be redeemed, together with the
<br />interest accrued thereon to the date fixed for redemption, but without any
<br />premium.
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<br /> In case of a redemption of all or any part of a bond awarded to the FmHA,
<br />a notice of redemption shall be sent by registered mail, mailed at least forty
<br />(40) days prior to the date fixed for redemption, addressed to the Finance
<br />Office, Farmers Home Administration, United States Department of Agriculture,
<br />1530 Market Street, St. Louis, Missouri, 63103, or to such other address as
<br />the FmHA may designate by registered or certified mail forwarded to the Issuer
<br />at least fifty (50) days prior to any interest payment date.
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<br /> On the date fixed for redemption, notice having been given in the manner
<br />and under the conditions hereinabove provided, the bonds or portions thereof
<br />called for redemption shall be due and payable at the redemption price provided
<br />therefor, plus accrued interest to such date. If moneys sufficient to pay the
<br />redemption price of the bonds or portions thereof to be redeemed, plus accrued
<br />interest thereon to the date fixed for redemption, are held by the Bond
<br />Registrar, or at such places as the FmHA may designate in the case of a bond
<br />registered in the name of the FmHA, in trust for the registered owners of
<br />bonds or portions thereof to be redeemed, interest on the bonds or portions
<br />thereof called for redemption shall cease to accrue, such bonds or portions
<br />thereof shall cease to be entitled to any benefits or security under this
<br />resolution or to be deemed outstanding, and the registered owners of such
<br />bonds or portions thereof shall have no rights in respect thereof except to
<br />receive payment of the redemption price thereof, plus accrued interest to the
<br />date of redemption.
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<br /> If a portion of a bond, other than a bond awarded to the FmHA, shall be
<br />selected for redemption, the registered owner thereof or his attorney or legal
<br />representative shall present and surrender such bond to the Bond Registrar for
<br />payment of the principal amount thereof so called for redemption and the
<br />redemption premium, if any, on such principal amount, and the Bond Registrar
<br />shall authenticate and deliver to or upon the order of such registered owner
<br />or his legal representative, without charge therefor, for the unredeemed
<br />portion of the principal amount of the bond so surrendered, a bond or bonds of
<br />the same maturity, of any denomination or denominations authorized by this
<br />resolution and bearing interest at the same rate.
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