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<br /> <br /> <br /> <br /> <br /> <br /> <br /> date by irrevocably depositing with or making available to <br /> the Paying Agent/Registrar for such payment (1) lawful money <br /> of the United States of America sufficient to make such <br /> payment or (2) Government Obligations which mature as to <br /> principal and interest in such amounts and at such times as <br /> will insure the availability, without reinvestment, of <br /> sufficient money to provide for such payment, and when <br /> proper arrangements have been made by the Issuer with the <br /> Paying Agent/Registrar for the payment of its services until <br /> all Defeased Bonds shall have become due and payable. At <br /> such time as a Bond shall be deemed to be a Defeased Bond <br /> hereunder, as aforesaid, such Bond and the interest thereon <br /> shall no longer be secured by, payable from, or entitled to <br /> the benefits of, the revenues pledged as provided in this <br /> Ordinance, and such principal and interest shall be payable <br /> solely from such money or Government Obligations. <br /> (b) Any moneys so deposited with the Paying Agent/Reg- <br /> istrar may at the written direction of the Issuer also be <br /> invested in Government Obligations, maturing in the amounts <br /> and times as hereinbefore set forth, and all income from <br /> such Government Obligations received by the Paying Agent/ <br /> Registrar which is not required for the payment of the Bonds <br /> and interest thereon, with respect to which such money has <br /> been so deposited, shall be turned over to the Issuer, or <br /> deposited as directed in writing by the Issuer. <br /> (c) The term "Government Obligations" as used in this <br /> Section shall mean direct obligations of the United States <br /> of America, including obligations the principal of and <br /> interest on which are unconditionally guaranteed by the <br /> United States of America, which may be United States Treas- <br /> ury obligations such as its State and Local Government <br /> Series, which may be in book-entry form. <br /> (d) Until all Defeased Bonds shall have become due and <br /> payable, the Paying Agent/Registrar shall perform the <br /> services of Paying Agent/Registrar for such Defeased Bonds <br /> the same as if they had not been defeased, and the Issuer <br /> shall make proper arrangements to provide and pay for such <br /> services as required by this Ordinance. <br /> Section 28. DAMAGED, MUTILATED, LOST, STOLEN, OR DE- <br /> STROYED BONDS. (a) Replacement Bonds. In the event any <br /> outstanding Bond is damaged, mutilated, lost, stolen, or <br /> destroyed, the Paying Agent/Registrar shall cause to be <br /> printed, executed, and delivered, a new bond of the same <br /> principal amount, maturity, and interest rate, as the <br /> damaged, mutilated, lost, stolen, or destroyed Bond, in <br /> replacement for such Bond in the manner hereinafter pro- <br /> vided. <br /> 42 <br />