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into the Bond Fund and used to pay principal and interest on the Bonds in accordance with all of <br /> the provisions of this Ordinance. <br /> Section 20. Defeasance. Any Bond or Bonds which(a) are paid and cancelled, (b) which <br /> have matured and for which sufficient sums been deposited with the Paying Agent to pay all <br /> principal and interest due thereon, or(c) for which sufficient U.S. funds and direct U.S. Treasury <br /> obligations have been deposited with the Paying Agent or similar institution to pay, taking into <br /> account investment earnings on such obligations, all principal of and interest on such Bond or <br /> Bonds when due at maturity or as called for redemption,pursuant to an irrevocable escrow or trust <br /> agreement, shall cease to have any lien on or right to receive or be paid from the Bond Moneys or <br /> Pledged Taxes hereunder and shall no longer have the benefits of any covenant for the registered <br /> owners of outstanding Bonds as set forth herein as such relates to lien and security of the <br /> outstanding Bonds. All covenants relative to the Tax-Exempt status of the Bonds; and payment, <br /> registration, transfer, and exchange; are expressly continued for all Bonds whether outstanding <br /> Bonds or not. <br /> Section 21. Continuing Disclosure Undertaking. If required by a Purchaser, the Mayor <br /> or the Treasurer is hereby authorized, empowered and directed to execute and deliver the <br /> Continuing Disclosure Undertaking (the "Continuing Disclosure Undertaking") in substantially <br /> the same form as now before the Council, or with such changes therein as the individual executing <br /> the Continuing Disclosure Undertaking on behalf of the City shall approve,the official's execution <br /> thereof to constitute conclusive evidence of the approval of such changes. When the Continuing <br /> Disclosure Undertaking is executed and delivered on behalf of the City as herein provided, the <br /> Continuing Disclosure Undertaking will be binding on the City and the officers, employees and <br /> agents of the City, and the officers, employees and agents of the City are hereby authorized, <br /> empowered and directed to do all such acts and things and to execute all such documents as may <br /> -31- <br />