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<br />! <br /> <br />. <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />(6) The Bonds are subject to mandatory <br />redemption as a whole or in part on December 15, 1990, if <br />the Tax Revenues with respect to the Bonds received or to <br />be received by the Agency for the 1990/91 Fiscal Year are <br />not equal to at least 1.20 times the Average Annual Debt <br />Service remaining on the Bonds then Outstanding p~yable <br />from moneys on deposit in the Escrow Fund and transferred <br />to the Redemption Account on November 1, 1990. <br /> <br />B. Call and Redemption; Notice of Redemption. The <br />Agency may (and, if required by Section 11 hereof, shall) by <br />resolution direct the call and redemption prior to maturity of <br />Bonds by the Fiscal Agent in such amounts as there are funds <br />available for use in redemption and shall give notice to the <br />Fiscal Agent of the redemption at least thirty (30) days prior <br />to the date notice of redemption is required to be given. <br /> <br />Notice of redemption prior to maturity (except as <br />provided below) shall be given by first class mailing, postage <br />prepaid, not less than ten (10) nor more than twenty (20) days <br />prior to the redemption date, (i) to the original purchaser(s) <br />of the Bonds (in the case of a syndicate, to the manager <br />thereof), and (ii) to the registered owner of each such Bond at <br />the address shown on the registration books of the Fiscal <br />Agent. Neither the failure to mail the notice nor any defect <br />in any notice mailed shall affect the sufficiency of the <br />proceedings for the redemption of any Bonds. The notice of <br />redemption shall (a) state the redemption date; (b) state the <br />redemption price; (c) state the numbers of the Bonds to be <br />redeemed; provided, however, that whenever any call for <br />redemption includes all of the Outstanding Bonds, the numbers <br />of the Bonds need not be stated; (d) state, as to any Bonds <br />redeemed in part only, the registered Bond numbers and the <br />principal portion thereof to be redeemed; and (e) state that <br />interest on the principal portion of the Bonds designated for <br />redemption shall cease to accrue from and after the redemption <br />date and that on the redemption date there shall become due and <br />payable on each of such Bonds the redemption price for each <br />Bond. <br /> <br />The actual receipt by the Owner of any Bond of notice <br />of redemption shall not be a condition precedent to redemption, <br />and failure to receive notice shall not affect the validity of <br />the proceedings for the redemption of the Bonds or the <br />cessation of interest on the redemption date. Notice of <br />redemption of Bonds shall be given by the Fiscal Agent and on <br />behalf of the Agency at the expense of the Agency. <br /> <br />12-28-85 <br />0063k/2281/05 <br /> <br />-18- <br />