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<br />owner of any of the Bonds shall be entitled to a writ of mandamus issued by a court of proper jurisdiction
<br />compelling and requiring the Council and other officers of the Issuer to observe and perfonn any covenant,
<br />obligation, or condition prescribed in this Ordinance. No delay or omission by any owner to exercise any right
<br />or power accruing to such owner upon default shall impair any such right or power. or shall be construed to be a
<br />waiver of any such default or acquiescence therein, and every such right or power may be exercised from time to
<br />time and as often as may be deemed expedient. The specific remedies mentioned in this Ordinance shall be
<br />available to any owner of any of the Bonds and shall be cumulative of all other existing remedies.
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<br />SECTION 9. DEFEASANCE OF BONDS. (a) Any Bond and the interest thereon shall be deemed to be
<br />paid, retired, and no longer outstanding (a "Defeased Bond") within the meaning of this Ordinance, except to the
<br />extent provided in subsection (d) of this Section 10, when payment of the principal of such Bond., plus interest
<br />thereon to the due date (whether such due date be by reason of maturity, upon redemption, or otherwise) either
<br />(i) shall have been made or caused to be made in accordance with the tenns thereof (including the giving of any
<br />required notice of redemption) or (ii) shall have been provided for on or before such due date by irrevocably
<br />depositing with or making available to the Paying Agent/Registrar for such payment (A) lawful money of the
<br />United States of America sufficient to make such payment or (B) Government Obligations (hereinafter defmed)
<br />which mature as to principal and interest in such amounts and at such times as will insure the availability,
<br />without reinvestment, of sufficient money to provide for such payment, and when proper arrangements have been
<br />made by the Issuer with the Paying Agent/Registrar for the payment of its services until all Defeased Bonds shall
<br />have become due and payable. At such time as a Bond shall be deemed to be a Defeased Bond hereunder, as
<br />aforesaid, such Bond and the interest thereon shall no longer be secured by, payable from, or entitled to the
<br />benefits of, the ad valorem taxes herein levied and pledged as provided in this Ordinance, and such principal and
<br />interest shall be payable solely from such money or Government Obligations.
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<br />(b) Any money so deposited with the Paying Agent/Registrar may at the written direction of the Issuer also
<br />be invested in Government Obligations, maturing in the amounts and times as hereinbefore set forth, and all
<br />income from such Government Obligations received by the Paying Agent/Registrar which is not required for the
<br />payment of the Bonds and interest thereon, with respect to which such money has been so deposited, shall be
<br />turned over to the Issuer, or deposited as directed in writing by the Issuer.
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<br />(c) The tenn "Government Obligations" as used in this Section, shall mean direct obligations of the United
<br />States of America, including obligations the principal of and interest on which are unconditionally guaranteed by
<br />the United States of America, which may be United States Treasury obligations such as its State and Local
<br />Government Series, which may be in book-entry fonn.
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<br />(d) Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar shall perfonn
<br />the services of Paying Agent/Registrar for such Defeased Bonds the same as if they bad not been defeased, and
<br />the Issuer shall make proper arrangements to provide and pay for such services as required by this Ordinance.
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<br />(e) [Insurance to Come].
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<br />SECTION 10. DAMAGED. MUTILATED, LOST. STOLEN. OR DESTROYED BONDS. (a)
<br />Replacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost. stolen, or destroyed, the
<br />Paying Agent/Registrar shall cause to be printed, executed, and delivered, a new bond of the same principal
<br />amount, maturity, and interest rate, as the damaged, mutilated, lost, stolen, or destroyed Bond, in replacement for
<br />such Bond in the manner hereinafter provided.
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<br />(b) Application for Replacement- Bonds. Application for replacement of damaged, mutilated, lost, stolen,
<br />or destroyed Bonds shall be made by the registered owner thereof to the Paying Agent/Registrar. In every case
<br />of loss, theft, or destruction of a Bond. the registered owner applying for a replacement bond shall furnish to the
<br />Issuer and to the Paying Agent/Registrar such security or indemnity as may be required by them to save each of
<br />them harmless from any loss or damage with respect thereto. Also, in every case of loss, theft, or destruction of
<br />a Bond, the registered owner shall furnish to the Issuer and to the Paying Agent/Registrar evidence to their
<br />satisfaction of the loss. theft, or destruction of such Bond, as the case may be. In every case of damage or
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