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Section 2.04 Redemption of Series 2016 Bonds. <br />(a) Optional Redemption of Series 2016A Bonds. The Series 2016A Bonds maturing <br />on or after September 1, 2027, are subject to optional redemption before maturity on or after <br />September 1, 2026, at the option of the Agency, in whole or in part, on any date, at a redemption <br />price equal to the principal amount of the Series 2016A Bonds to be redeemed, plus accrued but <br />unpaid interest to the redemption date, <br />(b) Optional Redemption of Series 2016B Bonds, The Series 2016B Bonds are not <br />subject to optional redemption. <br />Section 2.05 Notice of Redemption. In the case of any redemption of Bonds, the <br />Trustee shall give notice, as hereinafter in this section provided, that Bonds, identified by serial <br />numbers, Series and maturity date (and interest rate in the case of bifurcated maturities), have <br />been called for redemption and, in the case of Bonds to be redeemed in part only, the portion of <br />the principal amount thereof that has been called for redemption (or if all the Outstanding Bonds <br />are to be redeemed, so stating, in which event such serial numbers may be omitted), that they <br />will be due and payable on the date fixed for redemption (specifying such date) upon surrender <br />thereof at the Principal Corporate Trust Office, at the redemption price (specifying such price), <br />together with any accrued interest to such date, and that all interest on the Bonds, the respective <br />series of Bonds, or portions thereof, as applicable, so to be redeemed will cease to accrue on and <br />after such date and that from and after such date such Bond or such portion shall no longer be <br />entitled to any lien, benefit or security under the Indenture, and the Owner thereof shall have no <br />rights in respect of such redeemed Bond or such portion except to receive payment from such <br />moneys of such redemption price plus accrued interest to the date fixed for redemption. <br />Such notice shall be mailed by first class mail, postage prepaid, at least twenty (20) but <br />not more than sixty (60) days before the date fixed for redemption, to the Security Depository, <br />the MSRB and the Owners of such Bonds, or portions thereof, so called for redemption, at their <br />respective addresses as the same shall last appear on the Bond Register. No notice of redemption <br />need be given to the Owner of a Bond to be called for redemption if such Owner waives notice <br />thereof in writing, and such waiver is filed with the Trustee prior to the redemption date. Neither <br />the failure of an Owner to receive notice of redemption of Bonds hereunder nor any error in such <br />notice shall affect the validity of the proceedings for the redemption of Bonds. <br />Any notice of redemption may be expressly conditional and may be rescinded by Written <br />Request of the Agency given to the Trustee not later than the date fixed for redemption. Upon <br />receipt of such Written Request of the Agency, the Trustee shall promptly mail notice of such <br />rescission to the same parties that were mailed the original notice of redemption. <br />Section 2,06 Selection of Bonds for Redemption, Whenever less than all the <br />Outstanding Bonds of any one maturity are to be redeemed on any one date, the Trustee shall <br />select the particular Bonds to be redeemed by lot (subject in the case of such redemption of <br />Insured Series 2016 Bonds to the prior written approval of the Bond Insurer), and in selecting the <br />Bonds for redemption the Trustee shall treat each Bond of a denomination of more than five <br />thousand dollars ($5,000) as representing that number of Bonds of five thousand dollars ($5,000) <br />denomination which is obtained by dividing the principal amount of such Bond by five thousand <br />1& <br />3 -36 <br />