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