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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. Term Bonds Purchase or Redemption. If the City purchases Term Bonds of <br /> any maturity and cancels the same from Bond Moneys as hereinafter described, then an amount <br /> equal to the principal amount of Term Bonds so redeemed or purchased shall be deducted from <br /> the mandatory redemption requirements provided for Term Bonds of such maturity, first, in the <br /> current year of such requirement,until the requirement for the current year has been fully met, and <br /> then in any order of such Term Bonds as due at maturity or subject to mandatory redemption in <br /> any year, as the City shall determine. If the City purchases Term Bonds of any maturity and <br /> cancels the same from moneys other than Bond Moneys, then an amount equal to the principal <br /> amount of Term Bonds so redeemed or purchased shall be deducted from the amount of such Term <br /> Bonds as due at maturity or subject to mandatory redemption requirement in any year, as the City <br /> shall determine. <br /> Section 9. 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 /> redemption. For purposes of any redemption of less than all of the Bonds of a single maturity,the <br /> particular Bonds or portions of Bonds to be redeemed shall be selected by lot not more than 60 days <br /> prior to the redemption date by the Bond Registrar for the Bonds of such maturity by such method <br /> of lottery as the Bond Registrar shall deem fair and appropriate; provided, however, that such <br /> lottery shall provide for the selection for redemption of Bonds or portions thereof so that any <br /> $5,000 Bond or$5,000 portion of a Bond shall be as likely to be called for redemption as any other <br /> such$5,000 Bond or$5,000 portion. <br /> -13- <br />