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• <br /> t � <br /> • <br /> States of America which, on the dates of such payments, <br /> shall be legal tender for the payment of public and <br /> private debts. <br /> Section 7. Redemption of the Bonds. <br /> (a) Optional Redemption. The Bonds <br /> maturing on or after January 1, 2004, shall be <br /> redeemable at the option of the City, in whole <br /> or in part, on January 1, 2003, or at any time <br /> thereafter, in inverse order of maturity, and <br /> by lot within any such maturity or maturities <br /> by the Registrar, at a redemption price <br /> expressed as a percentage of the principal <br /> amount of each Bond to be redeemed in <br /> accordance with the following schedule, plus <br /> accrued interest to the redemption date: <br /> Redemption Period (Both Dates Inclusive) Redemption Price <br /> January 1, 2003 through December 31, 2003 102% <br /> January 1, 2004 through December 31, 2004 101% <br /> January 1, 2005 and thereafter prior to maturity 100% <br /> Official notice of such redemption shall be <br /> mailed by the Registrar and Paying Agent by <br /> certified or registered mail at least thirty <br /> (30) days and not more than sixty (60) days <br /> prior to the scheduled redemption date to each <br /> of the registered owners of the Bonds called <br /> for redemption (unless waived by any such <br /> registered owner) at the address shown on the <br /> registration books of the Registrar and Paying <br /> Agent, or at such other address as is <br /> furnished in writing by such registered owner <br /> to the Registrar; provided, however, that <br /> failure to give such notice by mailing, or any <br /> defect therein, with respect to any Bond shall <br /> not affect the validity of the proceedings for <br /> the redemption of any other Bond. The notice <br /> shall specify the redemption price, the date <br /> and place of redemption, and the registration <br /> numbers (and, in case of partial redemption, <br /> the respective principal amounts). of the Bonds <br /> called for redemption. The place of <br /> redemption may be at the office of the <br /> Registrar and Paying Agent or as otherwise <br /> determined by the City. Interest on the Bonds <br /> (or portions thereof) so called for redemption <br /> shall cease to accrue on the redemption date <br /> fixed-in such notice, if sufficient funds are <br /> available at the place of redemption to pay <br /> 4 <br />