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Section 5. Redemption. <br /> (a) Optional Redemption. The City reserves the right to redeem the Bonds <br /> maturing on and after September 1, 2009, in whole or in part on any date on or after <br /> September 1, 2008, at par, plus accrued interest to the date of redemption. If less than all of the <br /> Bonds subject to optional redemption are called for redemption, then the City shall choose the <br /> maturities to be redeemed. If less than the whole of a maturity is called for redemption, the <br /> Bonds to be redeemed shall be chosen by lot in integral multiples of $5,000 by the Bond <br /> Registrar, or, so long as the Bonds are registered in the name of CEDE & Co. or its registered <br /> assign,by DTC. <br /> (b) Mandatory Redemption. The Bonds maturing on September 1, 2018 <br /> (which shall be deemed to be term bonds), shall be redeemed prior to maturity by lot (or paid at <br /> maturity), not later than September 1 in the years 2016 through 2018 (to the extent such Bonds <br /> have not been previously redeemed or purchased) and in the principal amounts set forth below, <br /> without premium, together with the interest accrued to the date fixed for redemption. <br /> Year Amount <br /> 2016 $ 130,000 <br /> 2017 135,000 <br /> 2018* 140,000 <br /> * Final Maturity <br /> (c) Partial Redemption. If less than all of the principal amount of any Bond is <br /> redeemed, upon surrender of such Bond at the principal office of the Bond Registrar, there shall <br /> be issued to the registered owner, without charge, for the then unredeemed balance of the <br /> principal amount, a new Bond or Bonds, at the option of the registered owner, of like maturity <br /> and interest rate in any authorized denomination. <br /> -10- SCO1B Doc <br />