With respect to limited obligation improvement bonds (“bonds”) issued by the city pursuant to the Improvement Bond Act of 1915 (Sections 8500 and following, California Streets and Highways Code; hereafter the “1915 Act”), and notwithstanding any provision of the 1915 Act to the contrary, including but not limited to Section 8651.5 thereof, the city may provide for the redemption of its 1915 Act bonds in advance of the scheduled maturity of such bonds, with or without redemption premiums and, in the event that redemption premiums are specified, at such redemption premiums as shall be specified without regard to any maximum or minimum level of such premiums for any period of time, in accordance with the terms and conditions of the notice of sale (in the event of competitive sale of such bonds) or the bond purchase contract, bond purchase agreement or other bond sale document (in the event of a negotiated sale of such bonds). (Ord. 4431 § 1, 2007)