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less than all of the Certificates are to be redeemed, the City shall determine the amounts thereof to <br />be redeemed and shall direct the Paying Agent/Registrar to call by lot Certificates, or portions <br />thereof within such maturity or maturities and in such amounts, for redemption. <br />The Bonds maturing on August 15, 2040 (the "Term Certificates") are subject to mandatory <br />sinking fund redemption by lot prior to maturity in the following amounts, on the following dates <br />and at a price of par plus accrued interest to the redemption date <br />Term Certificate Maturity: August 15, 2040 <br />Mandatory <br />Redemption DatePrincipal Amount <br />August 15, 2039 $2,245,000 <br />August 15, 2040 2,295,000 <br />(maturity) <br />The principal amount of the Term Bonds required to be redeemed pursuant to the operation <br />of the mandatory sinking fund redemption provisions shall be reduced, at the option of the District <br />by the principal amount of any Term Bonds of the stated maturity which, at least 50 days prior to a <br />mandatory redemption date, (1) shall have been acquired by the District, at a price not exceeding the <br />principal amount of such Term Bonds plus accrued interest to the date of purchase thereof, and <br />delivered to the Paying Agent/Registrar for cancellation, (2) shall have been purchased and canceled <br />by the Paying Agent/Registrar at the request of the District with monies in the Interest and Sinking <br />Fund at a price not exceeding the principal amount of the Term Bonds plus accrued interest to the <br />date of purchase thereof, or (3) shall have been redeemed pursuant to the optional redemption <br />provisions and not theretofore credited against a mandatory sinking fund redemption requirement. <br />Notice of such redemption or redemptions shall be sent by United States mail, first class <br />postage prepaid, not less than 30 days before the date fixed for redemption, to the registered owner <br />of each of the Certificates to be redeemed in whole or in part. Notice having been so given, the <br />Certificates or portions thereof designated for redemption shall become due and payable on the <br />redemption date specified in such notice, and from and after such date, notwithstanding that any of <br />the Certificates or portions thereof so called for redemption shall not have been surrendered for <br />payment, interest on such Certificates or portions thereof shall cease to accrue. Conditional notice <br />of redemption may also be given as provided in the Ordinance. <br /> With respect to any optional redemption of the Certificates, unless certain prerequisites to <br />such redemption required by the Ordinance have been met and moneys sufficient to pay the <br />principal of and premium, if any, and interest on the Certificates to be redeemed shall have been <br />received by the Paying Agent/Registrar prior to the giving of such notice of redemption, such notice <br />shall state that said redemption may, at the option of the City, be conditional upon the satisfaction of <br />such prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the date <br />fixed for such redemption, or upon any prerequisite set forth in such notice of redemption. If a <br />conditional notice of redemption is given and such prerequisites to the redemption and sufficient <br />moneys are not received, such notice shall be of no force and effect, the City shall not redeem such <br />Certificates and the Paying Agent/ Registrar shall give notice, in the manner in which the notice of <br />redemption was given, to the effect that the Certificates have not been redeemed. <br />26 <br />San Marcos CTRCO 2021A: Ordinance <br /> <br />