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<br /> of this Section 9, when payment of the principal of such Bond,
<br /> plus interest thereon to the due date (whether such due date be
<br /> by reason of maturity, upon redemption, or otherwise) either
<br /> (i) shall have been made or caused to be made in accordance
<br /> with the terms thereof (including the giving of any required
<br /> notice of redemption), or (ii) sha11 have been provided for on
<br /> or before such due date by irrevocably depositing with or
<br /> making available to the Paying Agent/Registrar for such payment
<br /> (1) lawful money of the United States of America sufficient to
<br /> make such payment or (2) Government Obligations which mature as
<br /> to principal and interest in such amounts and at such times as
<br /> will insure the availability, without reinvestment, of suffi-
<br /> cient money to provide for such payment, and when proper
<br /> arrangements have been made by the Issuer with the Paying
<br /> ' Agent/Registrar for the payment of its services until all
<br /> Defeased Bonds shall have become due and payable. At such time
<br /> as a Bond shall be deemed to be a Defeased Bond hereunder, as
<br /> aforesaid, such Bond and the interest thereon shall no longer
<br /> be secured by, payable from, or entitled to the benefits of,
<br /> the ad valorem taxes herein levied and pledged as provided in
<br /> this Ordinance, and such principal and interest shall be
<br /> payable solely from such money or Government Obligations.
<br /> (b) Any moneys so deposited with the Paying Agent/Regis-
<br /> trar may at the written direction of the Issuer also be in-
<br /> vested in Government Obligations, maturing in the amounts and
<br /> times as hereinbefore set forth, and all income from such
<br /> Government Obligations received by the Paying Agent/Registrar
<br /> which is not required for the payment of the Bonds and interest
<br /> thereon, with respect to which such money has been so depos-
<br /> ited, shall be turned over to the Issuer, or deposited as
<br /> 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 of
<br /> America, including obligations the principal of and interest on
<br /> which are unconditionally guaranteed by the United States of
<br /> America, which may be United States Treasury obligations such
<br /> as its State and Local Government Series, which may be in
<br /> book-entry form.
<br /> (d) Until all Defeased Bonds shall have become due and
<br /> payable, the Paying Agent/Registrar shall perform the services
<br /> of Paying Agent/Registrar for such Defeased Bonds the same as
<br /> if they had not been defeased, and the Issuer shall make proper
<br /> arrangements to provide and pay for such services as required
<br /> by this Ordinance.
<br /> Section 10. 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 damaged,
<br /> mutilated, lost, stolen, or destroyed Bond, in replacement for
<br /> such Bond in the manner hereinafter provided.
<br /> (b) Application for Replacement Bonds. Application for
<br /> replacement of damaged, mutilated, lost, stolen, or destroyed
<br /> Bonds shall be made by the registered owner thereof to the
<br /> Paying Agent/Registrar. In every case of loss, theft, or
<br /> destruction of a Bond, the registered owner applying for a
<br /> replacement bond shall furnish to the Issuer and to the Paying
<br /> Agent/Registrar such security or indemnity as may be required
<br /> by them to save each of them harmless from any loss or damage
<br /> with respect thereto. Also, in every case of loss, theft, or
<br /> destruction of a Bond, the registered owner shall furnish to
<br /> the Issuer and to the Paying Agent/Registrar evidence to their
<br /> satisfaction of the loss, theft, or destruction of such Bond,
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