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<br /> revenues herein pledged as provided in this Ordinance, and such principal and interest shall be
<br /> 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 direction
<br /> of the Issuer also be invested in Government Obligations, maturing in the amounts and times as
<br /> hereinbefore set forth, and all income from such Government Obligations received by the Paying
<br /> Agent/Registrar which is not required for the payment of the Bonds and interest thereon, with
<br /> respect to which such money has been so deposited, shall be turned over to the Issuer, or
<br /> deposited as directed in writing by the Issuer.
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<br /> (c) The term "Government Obligations" as used in this Section shall mean direct
<br /> obligations of the United States of America, including obligations the principal of and interest on
<br /> which are unconditionally guaranteed by the United States of America, which may be United
<br /> States Treasury obligations such as its State and Local Government Series, which may be in
<br /> book-entry form.
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<br /> (d) Until all Defeased Bonds shall have become due and payable, the Paying
<br /> Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased Bonds
<br /> the same as if they had not been defeased, and the Issuer shall make proper arrangements to
<br /> provide and pay for such services as required by this Ordinance.
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<br /> Section 28. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED BONDS.
<br /> (a) Replacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen,
<br /> or destroyed, the Paying Agent/Registrar shall cause to be printed, executed, and delivered, a new
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<br /> bond of the same principal amount, maturity, and interest rate, as the damaged, mutilated, lost,
<br /> stolen, or destroyed Bond, in replacement for such Bond in the manner hereinafter provided.
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<br /> (b) Application for Re.placement Bonds. Application for replacement of damaged,
<br /> mutilated, lost, stolen, or destroyed Bonds shall be made by the registered owner thereof to the
<br /> Paying Agent/Registrar. In every case of loss, theft, or destruction of a Bond, the registered
<br /> owner applying for a replacement bond 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, or
<br /> destruction of a Bond, the registered owner shall furnish to the Issuer and to the Paying
<br /> Agent/Registrar evidence to their satisfaction of the loss, theft, or destruction of such Bond, as
<br /> the case may be. In every case of damage or mutilation of a Bond, the registered owner shall
<br /> surrender to the Paying Agent/Registrar for cancellation the Bond so damaged or mutilated.
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<br /> (c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in
<br /> the event any such Bond shall have matured, and no default has occurred which is then continuing
<br /> in the payment of the principal of, redemption premium, if any, or interest on the Bond, the Issuer
<br /> may authorize the payment of the same (without surrender thereof except in the case of a damaged
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