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presented at this meeting. In addition, the Mayor, City Manager, Director of Finance or other <br />appropriate official of the Issuer is hereby authorized to transfer and deposit such cash from <br />available funds, as may be necessary or appropriate for the payment fund described in said Paying <br />Agent Deposit Agreement, for the redemption of the Refunded Obligations. <br />Section 16. REDEMPTION OF REFUNDED OBLIGATIONS. <br />(a) The Issuer hereby directs that the Refunded Obligations be called for redemption on the <br />dates and as set forth on Schedule I. Each of such Refunded Obligations shall be redeemed at the <br />redemption price of par plus accrued interest. <br />(b) The paying agent/registrars for the Refunded Obligations are hereby directed to provide <br />the appropriate notices of redemption as required by the Refunded Obligations and are hereby <br />directed to make appropriate arrangements so that the Refunded Obligations may be redeemed on <br />the appropriate redemption date. The Refunded Obligations shall be presented for redemption at <br />the respective paying agent/registrar therefore, and shall not bear interest after the date fixed for <br />redemption. <br />(c) The source of funds for payment of the principal of and interest on the Refunded <br />Obligations on their redemption date shall be from the funds placed with the paying agent for the <br />Refunded Obligations as authorized in Section 15 of this Ordinance. <br />Section 17. APPROPRIATION. To pay the debt service coming due on the Bond, if any, <br />prior to receipt of the taxes levied to pay such debt service, there is hereby appropriated from current <br />funds on hand, which are hereby certified to be on hand and available for such purpose, an amount <br />sufficient to pay such debt service, and such amount shall be used for no other purpose. <br />Section 18. SEVERABILITY. If any section, article, paragraph, sentence, clause, phrase <br />or word in this Ordinance, or application thereof to any persons or circumstances is held invalid or <br />unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the <br />remaining portion of this Ordinance, despite such invalidity, which remaining portions shall remain <br />in full force and effect. <br />Section 19. EFFECTIVE DATE. In accordance with the provisions of Texas Government <br />Code, Section 1201.028, this Ordinance shall be effective immediately upon its adoption by the City <br />Council. <br />19 <br />