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AAA or its equivalent, which, in the case of (i), (ii) or (iii), may be in book -entry
<br />form, and the principal of and interest on which will, when due or redeemable at
<br />the option of the holder, without further investment or reinvestment of either the
<br />principal amount thereof or the interest earnings thereon, provide money in an
<br />amount which, together with other moneys, if any, held in such escrow at the
<br />same time and available for such purpose, shall be sufficient to provide for the
<br />timely payment of the principal of and interest thereon to the date of maturity or
<br />earlier redemption;
<br />provided, however, that if any of the Bonds are to be redeemed prior to their respective dates of
<br />maturity, provision shall have been made for giving notice of redemption as provided in this
<br />Ordinance. Upon such deposit, such Bonds shall no longer be regarded to be Outstanding or
<br />unpaid. Any surplus amounts not required to accomplish such defeasance shall be returned to
<br />r_ the City.
<br />Section 9.2.: Legal Holidays. In any case where the date interest accrues and
<br />becomes payable on the Bonds or principal of the Bonds matures or a Record Date shall be in the
<br />City a Saturday, Sunday, legal holiday or a day on which banking institutions are authorized by
<br />law to close, then payment of interest or principal need not be made on such date, or the Record
<br />Date shall not occur on such date, but payment may be made or the Record Date shall occur on
<br />the next succeeding day which is not in the City a Saturday, Sunday, legal holiday or a day on
<br />which banking institutions are authorized by law to close with the same force and effect as if
<br />(i) made on the date of maturity and no interest shall accrue for the period from the date of
<br />maturity to the date of actual payment or (ii) the Record Date had occurred on the last day of that
<br />calendar month.
<br />Section 9.3.: No Recourse Against City Officials. No recourse shall be had for the
<br />payment of principal of or interest on any Bonds or for any claim based thereon or on this
<br />Ordinance against any official of the City or any person executing any Bonds.
<br />Section 9.4.: Further Proceedings. The Mayor, City Secretary and other appropriate
<br />officials of the City are hereby authorized and directed to do any and all things necessary and/or
<br />convenient to carry out the terms of this Ordinance. The Mayor, City Secretary and other
<br />appropriate officials of the City are each hereby authorized to execute, attest and impress the
<br />City's seal to such other agreements, assignments, bonds, certificates, contracts, documents,
<br />licenses, instruments, releases, financing statements, letters of instruction, notices of acceptance,
<br />notices of final payment, written requests and other documents, and to take all actions and to do
<br />all things whether or not mentioned herein, as may be necessary or convenient to carry out or
<br />assist in carrying out the purposes of this Ordinance and the Bonds.
<br />Section 9.5.: Severability. If any Section, paragraph, clause or provision of this
<br />Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or
<br />unenforceability of such Section, paragraph, clause or provision shall not affect any of the
<br />remaining provisions of this Ordinance.
<br />Section 9.6.: Open Meeting. It is hereby found, determined and declared that a
<br />sufficient written notice of the date, hour, place and subject of the meeting of the City Council at
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<br />HOU:3009756.3
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