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principal amount of Term Bonds so redeemed or purchased shall be deducted from the amount <br /> of such Term Bonds as due at maturity or subject to mandatory redemption requirement in any <br /> year, as the City shall determine. <br /> Section 8. Redemption Procedures. The Bonds subject to redemption shall be <br /> identified, notice given, and paid and redeemed pursuant to the procedures as follows: <br /> A. No Further Action for a Mandatory Redemption. For a mandatory <br /> redemption, the Bond Registrar shall proceed to redeem Term Bonds without any further <br /> order or direction from the City whatsoever. <br /> B. Optional Redemption. The City shall, at least 30 days prior to a <br /> redemption date (unless a shorter time period shall be satisfactory to the Bond <br /> Registrar), notify the Bond Registrar of such redemption date of the Bonds to be <br /> redeemed. <br /> C. Selection of Bonds within a Maturity. For purposes of any redemption of <br /> less than all of the Bonds, the particular Bonds or portions of Bonds to be redeemed <br /> shall be selected by lot by the Bond Registrar for the Bonds by such method of lottery as <br /> the Bond Registrar shall deem fair and appropriate; provided, that such lottery shall <br /> provide for the selection for redemption of Bonds or portions thereof so that any $5,000 <br /> Bond or $5,000 portion of a Bond shall be as likely to be called for redemption as any <br /> other such $5,000 Bond or $5,000 portion. The Bond Registrar shall make such <br /> selection upon the earlier of the irrevocable receipt of funds sufficient to pay the <br /> redemption price of the Bonds to be redeemed or the time of the giving of official notice <br /> of redemption. <br /> D. Official Notice of Redemption. The Bond Registrar shall promptly notify <br /> the City in writing of the Bonds or portions of Bonds selected for redemption and, in the <br /> -10- <br />