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(f) The City desires to enter into an escrow agreement (the "Escrow Agreement") <br />with The Bank of New York Mellon Trust Company, National Association, <br />Dallas, Texas, as escrow agent, as authorized by the Act, pursuant to which a <br />portion of the proceeds of the refunding bonds herein authorized, and other <br />legally available funds of the City, if any, will be deposited and applied in a <br />manner sufficient to provide for the full and timely payment of all principal of, <br />premium, if any, and interest on the Refunded Obligations; and <br />(g) Upon the issuance of the refunding bonds herein authorized and the creation of <br />the escrow referred to above, the Refunded Obligations shall no longer be <br />regarded as being outstanding, except for the purpose of being paid pursuant to <br />such Escrow Agreement, and the pledges, liens, trusts and all other covenants, <br />provisions, terms and conditions of the ordinances authorizing the issuance of the <br />Refunded Obligations shall be, with respect to the Refunded Obligations, <br />discharged, terminated and defeased. <br />ARTICLE II. <br />DEFINITIONS AND INTERPRETATIONS <br />Section 2.1.: Definitions. As used herein, the following terms shall have the meanings <br />specified, unless the context clearly indicates otherwise: <br />"Act" shall mean Chapter 1207, Texas Government Code, as amended. <br />"Attorney General" shall mean the Attorney General of the State of Texas. <br />"Authorized Representatives" shall mean any two of the Mayor, the City Manager, the <br />Assistant City Manager and the Finance Director of the City. <br />"Bond" or "Bonds" shall mean any or all of the City of LaPorte, Texas, General <br />Obligation Refunding Bonds, Series 2014, authorized by this Ordinance. <br />"City" shall mean the City of La Porte, Texas, and, where appropriate, its City Council. <br />"City Council" shall mean the governing body of the City. <br />"Code" shall mean the Internal Revenue Code of 1986, as amended. <br />"Comptroller" shall mean the Comptroller of Public Accounts of the State of Texas. <br />"DTC" shall mean The Depository Trust Company, New York, New York, or any <br />successor securities depository. <br />2 <br />HOU:3189356.1 <br />