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<br />mailed, by first class mail, to the registered holders of any Bonds to be redeemed at their <br />addresses as they appear on the bond register. No defect in or failure to give such mailed notice <br />of redemption shall affect the validity of proceedings for the redemption of any Bond not <br />affected by such defect or failure. Official notice of redemption having been given as aforesaid, <br />the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and <br />payable at the redemption price therein specified and from and after such date (unless the City <br />shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease <br />to bear interest. Upon partial redemption of any Bond, a new Bond or Bonds will be delivered to <br />the owner without charge, representing the remaining principal amount outstanding. <br />Bonds maturing on August 1 in 2025, 2026, 2027, 2028, 2029 and on February 1, 2031 <br />(the “Term Bonds”) shall be subject to mandatory redemption prior to maturity pursuant to the <br />sinking fund requirements of this Section 2.04 at a redemption price equal to the stated principal <br />amount thereof plus interest accrued thereon to the redemption date, without premium. The <br />Registrar shall select for redemption, by lot or other manner deemed fair, on February 1 in each <br />of the following years the following stated principal amounts of such Bonds: <br />Term Bonds Maturing August 1, 2025 <br />Year Principal Amount <br /> <br /> 2025 $140,000 <br />The remaining $145,000 stated principal amount of such Bonds shall be paid at maturity on <br />August 1, 2025. <br /> <br />Term Bonds Maturing August 1, 2026 <br />Year Principal Amount <br /> <br /> 2026 $145,000 <br /> <br />The remaining $155,000 stated principal amount of such Bonds shall be paid at maturity on <br />August 1, 2026. <br /> <br />Term Bonds Maturing August 1, 2027 <br />Year Principal Amount <br /> <br /> 2027 $155,000 <br /> <br /> <br />The remaining $160,000 stated principal amount of such Bonds shall be paid at maturity on <br />August 1, 2027. <br /> <br />Term Bonds Maturing August 1, 2028 <br />Year Principal Amount <br /> <br /> 2028 $160,000