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4852-6958-9943\3 3 Bonds having stated maturity dates in the years 2030 and thereafter are each subject to redemption and prepayment, at the option of the City and in whole or in part and if in part, in the maturities selected by the City and by lot, assigned in proportion to their principal amount, within any maturity, on February 1, 2029 and on any date thereafter, at a price equal to the principal amount thereof to be redeemed plus interest accrued to the date of redemption. [TO BE REVISED IF THERE ARE TERM BONDS] [Bonds maturing in the years 20____ and 20____ shall be subject to mandatory redemption, at a redemption price equal to their principal amount plus interest accrued thereon to the redemption date, without premium, on February 1 in each of the years shown below, in an amount equal to the following principal amounts: Term Bonds Maturing in 20__ Term Bonds Maturing in 20__ Sinking Fund Payment Date Aggregate Principal Amount Sinking Fund Payment Date Aggregate Principal Amount (final maturity) (final maturity) [or, if less than such amount of Term Bonds is outstanding on any such Sinking Fund Payment Date, an amount equal to the aggregate principal amount of all Term Bonds then Outstanding. If Term Bonds are redeemed at the option of the City pursuant to this section, the Term Bonds so optionally redeemed may, at the option of the City, be applied as a credit against any subsequent mandatory sinking fund payment with respect to Term Bonds otherwise to be redeemed thereby, such credit to be equal to the principal amount of such Term Bonds redeemed pursuant to this section, provided that the City shall have delivered to the Registrar not less than forty-five (45) days before such Sinking Fund Payment Date a written statement of its election to apply such Term Bonds as such a credit. In such case, the Registrar shall reduce the amount of Term Bonds to be redeemed on the Sinking Fund Payment Date specified in such written statement by the principal amount of Term Bonds so redeemed pursuant to this section. Notice of redemption shall be given as provided in the preceding paragraph.] The Bonds have been designated as “qualified tax-exempt obligations” pursuant to Section 265(b) of the Internal Revenue Code of 1986, as amended. The City shall cause notice of the call for redemption to be published if and as required by law and, at least thirty (30) and not more than sixty (60) days prior to the date specified for redemption, will cause notice of the call thereof to be mailed, by first class mail (or, if applicable, provided in accordance with the operational arrangements of the bond depository), to the registered owner of any Bond to be redeemed at the owner’s address as it appears on the register maintained by the Registrar, but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Bond not affected by such defect or failure. Official notice of redemption having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the City shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon partial 32