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The Public Utility Bonds maturing on August 1, 2019 <br />shall be subject to mandatory sinking fund redemption on August <br />1, 2012 and on August 1 of each year thereafter to maturity in <br />the principal amounts in each year set forth below, with the <br />particular Bond or Bonds .or portions thereof to be selected by <br />lot, upon payment of a redemption price equal to 100% of the <br />principal amount of the Bonds to be redeemed, together with the <br />interest accrued on the principal amount to be redeemed to the <br />date fixed for the redemption thereof: <br /> <br />Year <br />CAuqust 1) Principal Amount <br /> <br />2012 <br />2013 <br />2014 <br />2015 <br />2016 <br />2017 <br />2018 <br />2019' <br /> <br />$ 480 000 <br /> 515 000 <br /> 550 000 <br /> 585,000 <br /> 630.000 <br /> 670 000 <br /> 720 000 <br /> 770 000 <br /> <br />*Maturity <br /> <br />The City, at its option, may credit against such mandatory <br />sinking fund redemption requirement, the principal amount of any <br />Public Utility Bonds maturing on August 1, 2019 which have been <br />purchased and cancelled by the City or which have been redeemed <br />and not theretofore applied as a credit against such mandatory <br />sinking fund redemption requirement. <br /> <br /> If any Bond of either issue (or any portion of the <br />principal amount thereof in installments of $5,000) shall be <br />called for redemption, notice of the redemption thereof, <br />specifying the date, number and maturity of such Bond, the date <br />and place or places fixed for its redemption, the premium, if <br />any, payable upon such redemption, and if less than the entire <br />principal amount of such Bond is to be redeemed, that such Bond <br />must be surrendered in exchange for the prIncipal amount thereof <br />to be redeemed and a new Bond or Bonds issued equalling in <br />principal amount that portion of the principal amount thereof not <br />to be redeemed, shall be mailed not less than thirty (30) days <br />prior to the date fixed for redemption by first class mail, <br />postage prepaid, to the registered owner of such Bond at his <br />address as it appears on the books of registry kept by the <br />Registrar for the Bonds as of ~he close of business on the forty- <br />fifth (45th) day preceding the date fixed for redemption. If <br />notice of the redemption of any Bond shall have been given as <br />aforesaid, and payment of the principal amount of such Bond (or <br />the portion of the principal amount thereof to be redeemed) and <br />of the accrued interest and premium, if any, payable upon such <br />redemption shall have been duly made or provided for, interest on <br /> <br /> <br />