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principal amount thereof against the mandatory sinking fund redemption requirements for the <br />applicable Term Bond in order of mandatory sinking fund redemption (or final maturity) dates <br />determined by the Clerk, and the principal amount of such Term Bond to be redeemed on such <br />mandatory sinking fund redemption dates by operation of the mandatory sinking fund <br />requirements shall be reduced accordingly; provided, however, the Registrar and Paying Agent <br />shall only credit 2010 Bonds against the mandatory sinking fund requirements to the extent such <br />2010 Bonds are received on or before 45 days preceding the applicable mandatory sinking fund <br />redemption date. <br />The Registrar shall determine by lot (treating each $5,000 principal amount of each 2010 <br />Bond as a separate 2010 Bond for such purpose) the 2010 Bonds within a Term Bond of a <br />particular maturity to be redeemed pursuant to the mandatory sinking fund redemption <br />requirements on December 1 of each year. <br />Notice of any such mandatory sinking fund redemption shall be given in the same manner <br />as notice of optional redemption is required to be given pursuant to this Section 4 of this <br />Ordinance. If 2010 Bonds are to be redeemed by optional redemption and mandatory sinking <br />fund redemption on the same date, the Registrar shall select by lot the 2010 Bonds for optional <br />redemption before selecting the 2010 Bonds by lot for the mandatory sinking fund <br />redemption. <br />In the event any of the 2010 Bonds are issued as Term Bonds, the form of the 2010 Bond <br />set forth in Appendix B to this Ordinance shall be modified accordingly. <br />Any reference to payment of principal on the 2010 Bonds shall include payment of <br />scheduled mandatory sinking fund redemption payments described in this Section 4. <br />(d) All 2010 Bonds which have been redeemed shall be canceled and shall not be <br />reissued; provided, however, that one or more new registered 2010 Bonds shall be issued for the <br />unredeemed portion of any 2010 Bond without charge to the holder thereof. <br />(e) No later than the date fixed for redemption, funds shall be deposited with the <br />Paying Agent to pay, and the Paying Agent is hereby authorized and directed to apply such funds <br />to the payment of, the 2010 Bonds or portions thereof called for redemption, including accrued <br />interest thereon to the redemption date. No payment shall be made upon any 2010 Bond or <br />portion thereof called for redemption until such 2010 Bond shall have been delivered for <br />payment or cancellation or the Registrar shall have received the items required by this Ordinance <br />with respect to any mutilated, lost, stolen or destroyed 2010 Bond. <br />SECTION 5. Appointment of Registrar and Payin A ent. The Controller is hereby <br />authorized to appoint a registrar and a paying agent for the 2010 Bonds ("Registrar" or "Paying <br />Agent"). The Registrar is hereby charged with the responsibility of authenticating the 2010 <br />Bonds, and shall keep and maintain books for the registration and transfer of the 2010 Bonds. <br />The Mayor is hereby authorized to enter into such agreements or understandings with any <br />institution serving as Registrar and Paying Agent as will enable the institution to perform the <br />services required of the- Registrar and Paying Agent. The Controller is authorized to pay such <br />fees as the institution may charge for the services it provides as Registrar and Paying Agent, and <br />-7- <br />