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ARTICLE IX
<br />MISCELLANEOUS
<br />Section 9.1: Defeasance The City may defease the provisions of this Ordinance and
<br />discharge its obligations to the Registered Owners of any or all of the Certificates to pay the
<br />principal of and interest thereon in any manner now or hereafter permitted by law, including by
<br />depositing with the Paying Agent/Registrar, a trust company or commercial bank other than the
<br />Paying Agent/Registrar, or with the Comptroller of Public Accounts of the State of Texas either:
<br />(a) cash in an amount equal to the principal amount of such Certificates and premium,
<br />if any, and interest thereon to the date of maturity or redemption; or
<br />(b) pursuant to an escrow or trust agreement, cash and/or(i) direct noncallable
<br />obligations of United States of America, including obligations that are unconditionally guaranteed
<br />by the United States of America; (ii) noncallable obligations of an agency or instrumentality of the
<br />United States, including obligations that are unconditionally guaranteed or insured by the agency
<br />or instrumentality and that are rated as to investment quality by a nationally recognized investment
<br />rating firm not less than “AAA” or its equivalent; or (iii) noncallable obligations of a state or an
<br />agency or a county, municipality, or other political subdivision of a state that have been refunded
<br />and that are rated as to investment quality by a nationally recognized investment rating firm not
<br />less than “AAA” or its equivalent, which, in the case of (i), (ii) or (iii), may be in book-entry form,
<br />and the principal of and interest on which will, when due or redeemable at the option of the holder,
<br />without further investment or reinvestment of either the principal amount thereof or the interest
<br />earnings thereon, provide money in an amount which, together with other moneys, if any, held in
<br />such escrow at the 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 earlier redemption;
<br />provided, however, that if any of the Certificates are to be redeemed prior to their respective dates
<br />of maturity, provision shall have been made for giving notice of redemption as provided in this
<br />Ordinance. Upon such deposit, such Certificates shall no longer be regarded to be Outstanding or
<br />unpaid. Any surplus amounts not required to accomplish such defeasance shall be returned to the
<br />City.
<br />Section 9.2: Ordinance a Contract - Amendments This Ordinance shall constitute a
<br />contract with the Registered Owners from time to time, be binding on the City, and shall not be
<br />amended or repealed by the City so long as any Certificate remains Outstanding except as
<br />permitted in this Section. The City may, without the consent of or notice to any Registered
<br />Owners, from time to time and at any time, amend this Ordinance in any manner not detrimental
<br />to the interests of the Registered Owners, including the curing of any ambiguity, inconsistency, or
<br />formal defect or omission herein. In addition, the City may, with the consent of Registered Owners
<br />who own in the aggregate 51% of the principal amount of the Certificates then Outstanding,
<br />amend, add to, or rescind any of the provisions of this Ordinance; provided that, without the
<br />consent of all Registered Owners of Outstanding Certificates, no such amendment, addition, or
<br />rescission shall (i) extend the time or times of payment of the principal of and interest on the
<br />Certificates, reduce the principal amount thereof, the redemption price, or the rate of interest
<br />thereon, or in any other way modify the terms of payment of the principal of or interest on the
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