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411 <br /> <br /> <br /> (f) .Records. It will keep proper books of record and account in which full, tree and correct <br /> entries will be made of ail dealings, activities and transactions relating to the Project, the Pledged <br /> Revenues and the Funds created pursuant to this Resolution, and ail books, documents and vouchers <br /> relating thereto shall at ail reasonable times be made available for inspection upon request of any <br /> bondholders. <br /> (g) Corporate Existence. It will maintain its corporate existence during the time that any <br /> Bonds are outstanding hereunder. <br /> <br /> Section 23. DEFEASANCE OF BONDS. (a) Any Bond and the imerest thereon shall be <br /> deemed to be paid, retired, and no longer outstanding (a "Defeased Bond") within the meaning of <br /> this Resolution, except to the extent provided in subsection (d) of this Section, when payment of the <br /> principal of such Bond, plus interest thereon to the due date (whether such due date be by reason of <br /> maturity, upon redemption, or otherwise) either (i) shail have been made or caused to be made in <br /> accordance with the terms thereof(including the giving of any required notice of redemption) or (ii) <br /> shall have been provided for on or before such due date by irrevocably depositing with or making <br /> available to the Paying Agent/Registrar for such payment (1) lawful money of the United States of <br /> America sufficient to make such payment or (2) Government Obligations which mature as to <br /> principal and interest in such amounts and at such times as will insure the availability, without <br /> reinvestment, of sufficient money to provide for such payment, and when proper arrangements have <br /> been made by the Issuer with the Paying Agent/Registrar for the payment of its services until all <br />-- Defeased Bonds shall have become due and payable. At such time as a Bond shall be deemed to be <br /> a Defeased Bond hereunder, as aforesaid, such Bond and the interest thereon shall no longer be <br /> secured by, payable from, or entitled to the benefits of, the Pledged Revenues herein pledged as <br /> provided in this Resolution, and such principal and interest shall be payable solely from such money <br /> or Government Obligations. <br /> <br /> (b) Any moneys so deposited with the Paying Agent/Registrar may at the written direction <br /> of the Issuer also be invested in Government Obligations, maturing in the amounts and times as <br /> hereinbefore set forth, and ail income fi'om such Government Obligations received by the Paying <br /> Agent/Registrar which is not required for the payment of the Bonds and interest thereon, with respect <br /> to which such money has been so deposited, shail be turned over to the Issuer, or deposited as <br /> directed in writing by the Issuer. <br /> <br /> (c) The term "Government Obligations" as used in this Section, shail mean non cailable <br /> direct obligations of the United States of America, including obligations the principal of and interest <br /> on which are unconditionally guaranteed by Ihe United States of America, which may be United <br /> States Treasury obligations such as its State and Local Government Series, which may be in book- <br /> entry form. <br /> <br /> (d) Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar <br />-- shall perform the services of Paying Agent/Registrar for such Defeased Bonds the same as if they <br /> had not been defeased, and the Issuer shall make proper arrangements to provide and pay for such <br /> services as required by this Resolution. <br /> <br /> 22 <br /> <br /> <br />