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<br />e e <br /> <br />Section 4. That the Mayor and other officers of <br /> <br />the City are hereby further authorized and directed to take <br /> <br />all such action as may be necessary for the City to <br /> <br />discharge its obligations contained in such Escrow Agreement <br /> <br />or otherwise to complete the defeasance of the Defeased <br /> <br />Bonds including without limitation the withdrawal of moneys <br /> <br />in .the interest and sinking fund, reserve fund and <br /> <br />contingency fund for the Defeased Bonds and the deposit of <br /> <br />such moneys with the Escrow Agent in order to provide for <br /> <br />the full payment when due of the principal of and interest <br /> <br />on the Defeased Bonds and the payment of the costs and <br /> <br />expenses specified in said Escrow Agreement. <br /> <br />Section 5. Any moneys remaining in the interest <br /> <br />and sinking fund, reserve fund and contingency fund for the <br /> <br />Defeased Bonds after the defeasance thereof shall be <br /> <br />transferred to and deposited in the City's general revenue <br /> <br />fund. <br /> <br />c <br />Section 6. That this ordinance shall take effect <br /> <br />and be in full force immediately upon and after its <br /> <br />adoption. <br /> <br />PASSED AND APPROVED this the ~ day of July, <br /> <br />1985. <br /> <br /> <br />ATTEST: <br /> <br />(l~~ <br /> <br />City Secretary, City of <br />La Porte, Texas <br /> <br />:.:":': <br />.:.:!F-!,l!::::lo"". <br /> <br />'" <br /> <br />[SEAL ] <br /> <br />001RDRBS/193B01 <br /> <br />-3- <br />