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years 2021 and thereafter are each subject to redemption and prepayment, at the option of the <br /> City and in whole or in part and if in part, in the maturities selected by the City and by lot, <br /> assigned in proportion to their principal amount, within any maturity, on February 1, 2019 and <br /> on any date thereafter, at a price equal to the principal amount thereof to be redeemed plus <br /> interest accrued to the date of redemption. <br /> (b) Bonds maturing in the year 2022 shall be subject to mandatory sinking fund <br /> redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br /> redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br /> years and principal amounts set forth below: <br /> Year Amount <br /> 2021 $140,000 <br /> 2022* $140,000 <br /> *Final Maturity <br /> In the event that any Bonds maturing in the year 2022 are redeemed pursuant to (a) above by the <br /> City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2022 so <br /> redeemed and canceled may be applied by the City as a credit against the Bonds to be redeemed <br /> pursuant to this subsection (b), such credit to be equal to the principal amount of the Bonds <br /> maturing in the year 2022 so redeemed or canceled provided that the City has notified the <br /> Register not less than thirty-five (35) days prior to the redemption date of its election to apply <br /> such Bonds as a credit. <br /> (c) Bonds maturing in the year 2024 shall be subject to mandatory sinking fund <br /> redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br /> redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br /> years and principal amounts set forth below: <br /> Year Amount <br /> 2023 $145,000 <br /> 2024* $155,000 <br /> *Final Maturity <br /> In the event that any Bonds maturing in the year 2024 are redeemed pursuant to (a) above by the <br /> City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2024 so <br /> redeemed and canceled may be applied by the City as a credit against the Bonds to be redeemed <br /> pursuant to this subsection (b), such credit to be equal to the principal amount of the Bonds <br /> maturing in the year 2024 so redeemed or canceled provided that the City has notified the <br /> -4- <br />