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ON AUGUST 15, 2030, or on any date thereafter, the Bonds of this Series maturing on and
<br />after August 15, 2031 may be redeemed prior to their scheduled maturities, at the option of the City,
<br />with funds derived from any available and lawful source, at par plus accrued interest to the date
<br />fixed for redemption as a whole, or from time to time in part, and, if in part, the particular maturities
<br />to be redeemed shall be selected and designated by the City and if less than all of a maturity is to
<br />be redeemed, the Paying Agent/Registrar shall determine by lot the Bonds, or a portion thereof,
<br />within such maturity to be redeemed (provided that a portion of a Bond may be redeemed only in
<br />an integral multiple of $5,000).
<br />NO LESS THAN 30 days prior to the date fixed for any such redemption, the City shall
<br />cause the Paying Agent/Registrar to send notice by United States mail, first-class postage prepaid
<br />to the Registered Owner of each Bond to be redeemed at its address as it appeared on the
<br />Registration Books of the Paying Agent/Registrar at the close of business on the 45th day prior to
<br />the redemption date and to major securities depositories, national bond rating agencies and bond
<br />information services; provided, however, that the failure to send, mail or receive such notice, or any
<br />defect therein or in the sending or mailing thereof, shall not affect the validity or effectiveness of
<br />the proceedings for the redemption of any Bonds. By the date fixed for any such redemption due
<br />provision shall be made with the Paying Agent/Registrar for the payment of the required redemption
<br />price for the Bonds or portions thereof which are to be so redeemed. If due provision for such
<br />payment is made, all as provided above, the Bonds or portions thereof which are to be so redeemed
<br />thereby automatically shall be treated as redeemed prior to their scheduled maturities, and they shall
<br />not bear interest after the date fixed for redemption, and they shall not be regarded as being
<br />outstanding except for the right of the Registered Owner to receive the redemption price from the
<br />Paying Agent/Registrar out of the funds provided for such payment. If a portion of any Bonds
<br />shall be redeemed a substitute Bonds or Bonds having the same maturity date, bearing interest at
<br />the same rate, in any denomination or denominations in any integral multiple of $5,000, at the
<br />written request of the Registered Owner, and in aggregate principal amount equal to the unredeemed
<br />portion thereof, will be issued to the Registered Owner upon the surrender thereof for cancellation,
<br />at the expense of the City, all as provided in the Bond Ordinance.
<br />WITH RESPECT TO any optional redemption of the Bonds, unless certain prerequisites
<br />to such redemption required by the Bond Ordinance have been met and moneys sufficient to pay
<br />the principal of and premium, if any, and interest on the Bonds 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
<br />of such prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the
<br />date fixed for such redemption, or upon any prerequisite set forth in such notice of redemption. If
<br />a 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 />Bonds 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 Bonds have not been redeemed.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered Bonds, without
<br />interest coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond
<br />Ordinance, this Bond, or any unredeemed portion hereof, may, at the request of the Registered
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<br />SANMARCOS GOB 2021: OrdinanceGOB
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