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The City covenants that it will redeem Term Bonds pursuant to the mandatory redemption <br /> requirement for such Term Bonds. Proper provision for mandatory redemption having been made, <br /> the City covenants that the Term Bonds so selected for redemption shall be payable as at maturity, <br /> and taxes shall be levied and collected as provided herein accordingly. <br /> Section 8. Optional Redemption. All or a portion of the Bonds, if any, may be subject <br /> to redemption prior to maturity at the option of the City, from any available funds, in whole or in <br /> part, on any date on or after the date provided in the Bond Notification(but in no event shall such <br /> date be later than March 1, 2033), and if in part, in such order of maturities (and, if applicable, <br /> order of mandatory redemption payments) as shall be specified in the Bond Notification, and if <br /> less than an entire maturity, in integral multiples of$5,000, selected by lot by the Bond Registrar <br /> as hereinafter provided,at the redemption price of par plus accrued interest to the redemption date. <br /> Section 9. Term Bonds Purchase or Redemption. If the City redeems pursuant to <br /> optional redemption as hereinabove provided or purchases Term Bonds of any maturity and <br /> cancels the same from Bond Moneys (as defined in Section 13 hereof), then an amount equal to <br /> the principal amount of Term Bonds so redeemed or purchased shall be deducted from the <br /> mandatory redemption requirements provided for Term Bonds of such maturity,first,in the current <br /> year of such requirement,until the requirement for the current year has been fully met,and then in <br /> any order of such Term Bonds as due at maturity or subject to mandatory redemption in any year, <br /> as the City shall determine. If the City redeems pursuant to optional redemption or purchases <br /> Term Bonds of any maturity and cancels the same from moneys other than Bond Moneys,then an <br /> amount equal to the principal amount of Term Bonds so redeemed or purchased shall be deducted <br /> from the amount of such Term Bonds as due at maturity or subject to mandatory redemption <br /> requirement in any year, as the City shall determine. <br /> Section 10. Redemption Procedure. For a mandatory redemption of Term Bonds, the <br /> Bond Registrar shall proceed without further authorization or direction to provide for such <br /> -9- <br />