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3.05 . Redemption. (a) Bonds maturing in the years 2016 through 2021 are payable on <br />their respective stated maturity dates without option of prior payment, but Bonds maturing in <br />2022 and later years are each subject to redemption , at the option of the City and in whole or in <br />part, and if in part, in the maturities selected by the City and , within any maturity, in $5,000 <br />principal amounts selected by the Registrar by lot , on February 1,2023 and on any date <br />thereafter, at a redemption price equal to the principal amount thereof to be redeemed plus <br />accrued interest to the date of redemption. <br />[(b) Bonds maturing in the year __ shall be subject to mandatory sinking fund <br />redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br />redeemed plus interest accrued thereon to the date fixed for redemption, on February I, in the <br />years and principal amounts set forth below: <br />Amount <br />$ <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 (b), 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 />[(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 I, in the <br />years and principal amounts set forth below: <br />Amount <br />$ <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 />-9- <br />25