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particular maturities to be redeemed shall be selected by the City in its discretion. If fewer than all of the Series 2024A Bonds of any one maturity shall be called for redemption, the particular Series 2024A Bonds or portion thereof to be redeemed from.such maturity shall be selected by lot by the Trustee. (3) To the extent not previously redeemed, the Series 2024A Bonds maturing on February 1, 2035 are subject to mandatory sinking fund redemption by lot in such manner as the Trustee shall determine, on February 1 in the years and in the amounts set forth below, at a redemption price equal to the principal amount being redeemed plus accrued interest to the date of redemption: Series 2024A Bonds Maturing February 1, 2035 Principal Year Amount 2034 $1,235,000 2035 (maturity) 1,050,000 In case any outstanding bond is in a denomination greater than$5,000, each$5,000 of face value of such bond shall be treated as a separate bond of the denomination of$5,000. The City has covenanted in the Authorizing Ordinance that Surplus Bond Tax Receipts, being collections of the Bond Tax in excess of the amount necessary to (a) ensure the prompt payment of the principal of, interest on and Trustee's fees and expenses and other administrative charges in connection with the bonds as the same become due,(b)pay any arbitrage rebate payments due under Section 148(f) of the Internal Revenue Code of 1986, as amended, (c) maintain the debt service reserve in the required amount and(d)pay any amounts due with respect to the municipal bond insurance policy issued in connection with the bonds, must be used from -time to time on each interest payment date, but in any event not less often than annually, as and to the extent available to redeem outstanding bonds prior to maturity. The debt service reserve shall be used as part of the Surplus Bond Tax Receipts for the purpose of making the final principal and interest payment on the bonds, whether at maturity or at redemption prior to maturity. Surplus Bond Tax Receipts shall be used to redeem the Series 2024A Bonds in full before any Series 2024B Bonds are redeemed from Surplus Bond Tax Receipts. Notice of redemption identifying the bonds or portions thereof (which ,shall be $5,000 or a multiple thereof)to be redeemed and the date they shall be presented for payment shall be given by the Trustee, not less than 30 nor more than 60 days prior to the date fixed for redemption, by sending a copy of the redemption notice by first class mail, postage prepaid, or other acceptable standard means of delivery, including facsimile or electronic communication, to all registered owners of bonds to be redeemed. Failure to send an appropriate notice or any such notice to one or more registered owners of bonds to be redeemed shall not affect the validity of the proceedings for redemption of other bonds as to which notice of redemption is duly given in proper and timely fashion. All such bonds or portions thereof thus called for redemption and for the retirement of which funds are duly provided in accordance with the Authorizing Ordinance prior to the date fixed for redemption will cease to bear interest on such redemption date. 9