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27 <br />maturing in the year 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 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 />*Final Maturity <br />In the event that any Bonds maturing in the year are redeemed pursuant to (a) above by <br />the City and canceled by the Registrar and not reissued, the Bonds maturing in the year 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 (c), such credit to be equal to the principal amount of the Bonds <br />maturing in the year 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 />(d) At least thirty days prior to the date set for redemption of any Bond, the City shall <br />cause notice of the call for redemption to be mailed to the Registrar and to the registered owner <br />of each Bond to be redeemed, but no defect in or failure to give such mailed notice of <br />redemption shall affect the validity of proceedings for the redemption of any Bond not affected <br />by such defect or failure. The notice of redemption shall specify the redemption date, <br />redemption price, the numbers, interest rates and CUSIP numbers of the Bonds to be redeemed <br />and the place at which the Bonds are to be surrendered for payment, which is the principal office <br />of the Registrar. Official notice of redemption having been given as aforesaid, the Bonds or <br />portions thereof so to be redeemed shall, on the redemption date, become due and payable at the <br />redemption price therein specified and from and after such date (unless the City shall default in <br />the payment of the redemption price) such Bonds or portions thereof shall cease to bear interest. <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 />3.06. Preparation and Delivery. The Bonds shall be prepared under the direction of the <br />City Manager and shall be executed on behalf of the City by the signatures of the Mayor and the <br />City Manager; provided that said signatures may be printed, engraved, or lithographed facsimiles <br />-12- <br />