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<br /> shall no longer be secured by, payable from, or entitled to the benefits ot the ad valorem
<br /> 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 moneys so deposited with the Paying Agent/Registrar may at the written
<br /> direction of the Issuer also be invested in Government Obligations, maturing in the amounts
<br /> and times as hereinbefore set forth, and all income from such Government Obligations
<br /> received by the Paying Agent/ Registrar which is not required for the payment of the
<br /> Certificates of Obligation and interest thereon, with respect to which such money has been
<br /> so deposited, shall be turned over to the Issuer, or deposited as directed in writing by the
<br /> Issuer.
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<br /> (c) The term "Govemment Obligations" as used in this Section shall mean direct
<br /> obligations of the United States of America, including obligations the principal of and
<br /> interest on which are unconditionally guaranteed by the United States of America, which
<br /> may be United States Treasury obligations such as its State and Local Government Series,
<br /> which may be in book-entry form.
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<br /> (d) Until all Defeased Certificates of Obligation shall have become due and payable,
<br /> the Paying Agent/Registrar shall perform the services of Paying AgentJRegistrar for such
<br /> Defeased Certificates of Obligation the same as if they had not been defeased, and the
<br /> Issuer shall make proper arrangements to provide and pay for such services as required by
<br /> this Ordinance.
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<br /> Section 12. DAMAGED, MLJTIL.ATED, LOST, STOLEN, OR DESTROYED
<br /> CERT'IFICATES OF OBLIGATION. (a) Replacement Certificates of Obli a~tion. In the
<br /> event any outstanding Certificate of Obligation is damaged, mutilated, lost, stolen, or
<br /> destroyed, the Paying Agent/Registrar shall cause to be printed, executed, and delivered, a
<br /> new certiScate of obligation of the same principal amount, maturity, and interest rate, as the
<br /> damaged, mutilated, lost, stolen, or destroyed Certificate of Obligation, in replacement for
<br /> such Certificate of Obligation in the manner hereinafter provided.
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<br /> (b) Application for ReRiacement Certificates of Obligation. Application for
<br /> replacement of damaged, mutilated, lost, stolen, or destroyed Certificates of Obligation shall
<br /> be made by the registered owner thereof to the Paying Agent/Registrar. In every case of
<br /> loss, theft, or destruction of a Certificate of Obligation, the registered owner applying for a
<br /> replacement certi5cate of obligation shall furnish to the Issuer and to the Paying
<br /> Agent/Registrar such security or indemnity as may be required by them to save each of them
<br /> harmless from any loss or damage with respect thereto. Also, in every case of loss, theft,
<br /> or destruction of a CertiScate of Obligation, the registered owner shall furnish to the Issuer
<br /> and to the Paying Agent/Registrar evidence to their satisfaction of the loss, theft, or
<br /> destruction of such Certificate of Obligation, as the case may be. In every case of damage
<br /> or mutilation of a Certificate of Obligation, the registered owner shall surrender to the
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