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M -7- principal of the Bonds, the rates and charges shall be maintained at levels sufficient to pay principal of and interest on the refunding bonds, operate the System and provide for depreciation. The Bonds are subject to redemption prior to maturity, in whole or in part, with there to be no partial redemption of any Bond, by lot in such manner as the Trustee shall determine, at a price of the principal amount being redeemed, plus accrued interest to the date of redemption, as follows: 1. The Bonds shall be redeemed from moneys received by the City from the United States of America under the Federal Revenue Sharing Program during the years 1982 and 1983, from time to time, on each interest payment date, as and to the extent such moneys are received and may lawfully be used by the City for that purpose. 2. The Bonds may be redeemed, at the option of the City, (a) from surplus proceeds of the sale of the Bonds not required for accomplishing the Improvements and from surplus revenues of the System, on any interest payment date; and (b) from funds from any other source on any interest payment date on and after December 1, 1982. Notice of the call for redemption shall be published one time in a newspaper of general circulation throughout the State of Arkansas published in the City of Little Rock, Arkansas, giving the number and maturity of each Bond being called, with the publi- cation to be at least fifteen (15) days prior to the redemption date, and after the date fixed for redemption each Bond so called shall cease to bear interest, provided funds for its payment are on deposit with the Paying Agent at that time. In addition, notice shall be given by certified or registered mail to the registered owner of each Bond registered as to principal or as to principal and interest at the address of such owner reflected on the bond registration book of the bond registrar and if all outstanding Bonds shall be registered as to principal and interest then notice