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Certificate may be redeemed only in an integral multiple of $5,000), at a redemption price equal
<br />to the principal amount to be redeemed plus accrued interest to the date fixed for redemption.
<br />IN ADDITION TO THE FOREGOING OPTIONAL REDEMPTION, the Certificates
<br />scheduled to mature on June 15 in each of the years 2049 and 2054 (the "Term Certificates") are
<br />subject to scheduled mandatory redemption by the Paying Agent/Registrar by lot, or by any other
<br />customary method that results in a random selection, at a price equal to the principal amount
<br />thereof, plus accrued interest to the redemption date, out of moneys available for such purpose in
<br />the interest and sinking fund for the Certificates, on the dates and in the respective principal
<br />amounts, set forth in the following schedule:
<br />Term Certificate
<br />Term Certificate
<br />Maturity: June 15, 2049
<br />Maturity: June 15, 2054
<br />Mandatory Redemption
<br />Principal
<br />Mandatory Redemption
<br />Principal
<br />Date
<br />Amount
<br />Date
<br />Amount
<br />June 15, 2045
<br />$ 1,820,000
<br />June 15, 2050
<br />$ 2,225,000
<br />June 15, 2046
<br />1,895,000
<br />June 15, 2051
<br />2,320,000
<br />June 15, 2047
<br />1,970,000
<br />June 15, 2052
<br />2,420,000
<br />June 15, 2048
<br />2,055,000
<br />June 15, 2053
<br />2,525,000
<br />June 15, 2049*
<br />2,140,000
<br />June 15, 2054*
<br />2,630,000
<br />* Stated maturity.
<br />The principal amount of Term Certificates required to be redeemed on any mandatory redemption
<br />date pursuant to the operation of the mandatory sinking fund redemption provisions shall be
<br />reduced, at the option of the City, by the principal amount of any Term Certificates which, at least
<br />45 days prior to a mandatory redemption date (1) shall have been acquired by the City at a price
<br />not exceeding the principal amount of such Term Certificates plus accrued interest to the date of
<br />purchase thereof, and delivered to the Paying Agent/Registrar for cancellation, (2) shall have been
<br />purchased and canceled by the Paying Agent/Registrar at the request of the City at a price not
<br />exceeding the principal amount of such Term Certificates plus accrued interest to the date of
<br />purchase, or (3) shall have been redeemed pursuant to the optional redemption provisions and not
<br />theretofore credited against a mandatory redemption requirement.
<br />AT LEAST THIRTY days prior to the date fixed for any redemption of Certificates or
<br />portions thereof prior to maturity a written notice of such redemption shall be sent by the Paying
<br />Agent/Registrar by United States mail, first-class postage prepaid to the registered owner of each
<br />Certificate to be redeemed at its address as it appeared on the 45th day prior to such redemption
<br />date; provided, however, that the failure of the registered owner to receive such notice, or any
<br />defect therein or in the sending or mailing thereof, shall not affect the validity or effectiveness of
<br />the proceedings for the redemption of any Certificate. By the date fixed for any such redemption
<br />due provision shall be made with the Paying Agent/Registrar for the payment of the required
<br />redemption price for the Certificates or portions thereof that are to be so redeemed. If such written
<br />notice of redemption is sent and if due provision for such payment is made, all as provided above,
<br />the Certificates or portions thereof that are to be so redeemed thereby automatically shall be treated
<br />as redeemed prior to their scheduled maturities, and they shall not bear interest after the date fixed
<br />for redemption, and they shall not be regarded as being outstanding except for the right of the
<br />A-3
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