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tinuing through the month of June, 1999, an amount equal to <br /> one-twelfth of the lesser of $710, 000 or the principal amount of <br /> the Bonds numbered 516 to 1714, inclusive, which are outstanding <br /> on July 1, 1998. <br /> 7 . Beginning with the month of July, 1999, and con- <br /> tinuing through the month of June, 2000, an amount equal to <br /> one-twelfth of the lesser of $800, 000 or the principal amount of <br /> the Bonds numbered 516 to 1714, inclusive, which are outstanding <br /> on July 1, 1999 . <br /> 8. Beginning with the month of July, 2000, and con- <br /> tinuing through the month of June, 2001, an amount equal to <br /> one-twelfth of the lesser of $900, 000 or the principal amount of <br /> the Bonds numbered 516 to 1714, inclusive which are outstanding on <br /> July 1, 2000. <br /> 9. Beginning with the month of July, 2001, and con- <br /> tinuing through the month of June, 2002, an amount equal to <br /> one-twelfth of the lesser of $1, 015, 000 or the principal amount of <br /> the Bonds numbered 516 to 1714, inclusive, which are outstanding <br /> on July 1, 2001 . <br /> The amounts set aside pursuant to the foregoing amortization <br /> schedule shall be applied to the redemption of the then out- <br /> standing Bonds which are Term Bonds. The Bonds numbered 516 to <br /> 1714, inclusive, shall be called by lot on July 1 of each year <br /> beginning on July 1, 1994, in accordance with the schedule set <br /> forth in Section 4 of this ordinance and the City Treasurer is <br /> hereby instructed to give notices of such redemptions pursuant to <br /> Section 4 of this ordinance. <br /> The City further covenants and agrees that in the event it <br /> issues any future Parity Bonds which are Term Bonds, it will <br /> -12- BD338 81/12/22 <br />