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(b) Mandatory Sinking Fund Redemption <br />(i) The Certificates scheduled to mature on August 15 in the years 2026 and 2034 <br />(the "Term Certificates ") are subject to scheduled mandatory redemption by the Paying <br />Agent /Registrar (or DTC or a successor securities depository, as applicable, if the <br />Certificates are in Book -Entry form) by lot, or by any other customary method that results <br />in a random selection, at a price equal to the principal amount thereof, plus accrued interest <br />to the redemption date, out of moneys available for such purpose in the Interest and Sinking <br />Fund, in the dates and in the respective principal amounts, set forth in the following <br />schedule: <br />Term Certificate Maturity: <br />August 15, 2026 <br />Mandatory <br />Redemption Date <br />Principal Amount <br />August 15, 2025 <br />$710,000 <br />August 15, 2026 (maturity) 7_77 <br />735,000 <br />Term Certificate Maturity: <br />August 15, 2034 <br />Mandatory <br />Redemption Date <br />Principal Amount <br />August 15, 2033 <br />$950,000 <br />August 15, 2034 (maturity) <br />990,000 <br />(ii) The principal amount of Term Certificates of a stated maturity required to be <br />redeemed on any mandatory redemption date pursuant to the operation of the mandatory <br />sinking fund redemption provisions hereof shall be reduced, at the option of the City, by the <br />principal amount of any Term Certificates of the same maturity which, at least 50 days prior <br />to a mandatory redemption date (1) shall have been acquired by the City and delivered to the <br />Paying Agent /Registrar for cancellation, (2) shall have been purchased and canceled by the <br />Paying Agent /Registrar at the request of the City, or (3) shall have been redeemed pursuant <br />to the optional redemption provisions and not theretofore credited against a mandatory <br />sinking fund redemption requirements. <br />(iii) The City reserves the right to purchase Term Certificates, in lieu of <br />redemption, at a price not exceeding the principal amount thereof, plus accrued interest, with <br />moneys on deposit in the Interest and Sinking Fund which are available for mandatory <br />San Marcos CTRCO 2014. Ordinance 15 <br />