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(b) In addition, the paying agendregistrar for the Refunded Obligations is hereby directed <br />to provide the appropriate notices of redemption and defeasance as specified by the ordinances <br />authorizing the issuance of the Refunded Obligations and is hereby directed to make appropriate <br />arrangements so that the Refunded Obligations may be redeemed on their redemption dates. The <br />Refunded Obligations shall be presented for redemption at the paying agent/registrar therefore, and <br />shall not bear interest after the date fixed for 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 in escrow with the Escrow <br />Agent, pursuant to the Escrow Agreement approved in Section 14 of this Ordinance. <br />Section 16. APPROPRIATION. To pay the debt service coming due on the Bonds, 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 17. 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 18. 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 />(Execution Page Follows) <br />25 <br />