Optional and Mandatory Sinking Fund Redemption. (a) The 2025 Certificates are subject to optional redemption prior to their respective maturity dates as follows:
(1) The 2025 Certificates maturing on or prior to June 1, are not subject to optional redemption prior to their respective maturity dates. The 2025 Certificates maturing on and after June 1, are subject to redemption prior to maturity at the option of the District, on June 1, and on any date thereafter, in whole or in part, in any order of maturity and by lot within a maturity (giving proportionate weight to 2025 Certificates in denominations larger than $5,000), at a redemption price equal to the principal amount of each 2025 Certificate, or portion thereof, so redeemed, plus accrued interest thereon to the redemption date, without premium.
(2) If less than all the Outstanding 2025 Certificates are to be redeemed, the Trustee, upon written instruction from the District, shall select the 2025 Certificates to be redeemed from the maturity dates selected by the District, and by lot within each such maturity in such manner as the Trustee shall determine; provided, that the portion of any 2025 Certificate to be redeemed in part shall be in the principal amount of $5,000 or any integral multiple thereof.
(b) The 2025 Certificates are subject to mandatory sinking fund redemption as follows:
(1) The 2025 Certificates constituting Term Certificates maturing on June 1, ____ are subject to mandatory sinking fund redemption at a price equal to the principal amount thereof plus accrued interest thereon to the redemption date. Such Term Certificates are to be selected by lot in such manner as the Trustee shall determine (giving proportionate weight to Certificates in denominations larger than $5,000). As and for a sinking fund for the redemption of the 2025 Certificates constituting Term Certificates maturing on June I, ____, the District shall deposit in the Base Rentals Fund, on or before June 1 in each of the following years, moneys which are sufficient to redeem (after credit as hereinafter provided) the following principal amount of such Term Certificates:
(2) The remaining $ of the 2025 Certificates maturing on June 1, shall be paid upon presentation and surrender at maturity unless redeemed pursuant to optional redemption prior to maturity.
Optional and Mandatory Sinking Fund Redemption. (a) The 2023 Certificates are not subject to optional redemption prior to their respective maturity dates.
(b) The 2023 Certificates are not subject to mandatory sinking fund redemption.
