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5 <br />In the event that any Bonds maturing in the year 20__ are redeemed pursuant to (a) above by the <br />City and canceled by the Registrar, the Bonds maturing in the year 20__ so redeemed and <br />canceled may be applied by the City as a credit against the Bonds to be redeemed pursuant to this <br />subsection (b), such credit to be equal to the principal amount of the Bonds maturing in the year <br />20__ so redeemed or canceled provided that the City has notified the Registrar not less than <br />thirty-five (35) days prior to the redemption date of its election to apply such Bonds as a credit. <br /> <br /> (c) Bonds maturing in the year 20__ 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 /> <br />Term Bonds Maturing in 20__ <br />Sinking Fund Payment Date <br />(February 1) Aggregate Principal Amount <br /> <br /> <br /> <br /> <br /> <br />*Final Maturity <br /> <br />In the event that any Bonds maturing in the year 20__ are redeemed pursuant to (a) above by the <br />City and canceled by the Registrar, the Bonds maturing in the year 20__ so redeemed and <br />canceled may be applied by the City as a credit against the Bonds to be redeemed pursuant to this <br />subsection (c), such credit to be equal to the principal amount of the Bonds maturing in the year <br />20__ so redeemed or canceled provided that the City has notified the Register not less than <br />thirty-five (35) days prior to the redemption date of its election to apply such Bonds as a credit.] <br /> <br />At least thirty days prior to the date set for redemption of any Bond, the City shall cause <br />notice of the call for redemption to be mailed to the Registrar and to the registered owner of each <br />Bond to be redeemed, but no defect in or failure to give such mailed notice of redemption shall <br />affect the validity of proceedings for the redemption of any Bond not affected by such defect or <br />failure. The notice of redemption shall specify the redemption date, redemption price, the <br />numbers, interest rates and CUSIP numbers of the Bonds to be redeemed and the place at which <br />the Bonds are to be surrendered for payment, which is the principal office of the Registrar. <br />Official notice of redemption having been given as aforesaid, the Bonds or portions thereof so to <br />be redeemed shall, on the redemption date, become due and payable at the redemption price <br />therein specified and from and after such date (unless the City shall default in the payment of the <br />redemption price) such Bonds or portions thereof shall cease to bear interest. <br /> <br />Bonds in a denomination larger than $5,000 may be redeemed in part in any integral <br />multiple of $5,000. The owner of any Bond redeemed in part shall receive without charge, upon <br />surrender of such Bond to the Registrar, one or more new Bonds in authorized denominations <br />equal in principal amount to be unredeemed portion of the Bond so surrendered. <br /> <br />23