Laserfiche WebLink
, ' <br /> � R• � <br /> l . <br /> (c) as to the Bond Registrar, to cancel and/or destroy Bonds which have been <br /> paid at maturity or upon redemption or submitted for exchange or transfer; <br /> (d) as to the Bond Registrar, to furnish the City at least annually a certificate <br /> with respect to Bonds canceled and/or destroyed; and <br /> (e) to furnish the City at least annually an audit confirmation of Bonds paid, <br /> Bonds outstanding and payments made with respect to interest on the Bonds. <br /> The City Clerk of the City is hereby directed to file a certified copy of this Ordinance <br /> with the Bond Registrar and the Paying Agent. <br /> Section 20. Taxes Previousl Levied. The taxes reviousl levied to a rinci al <br /> Y P Y PYP <br /> P <br /> of and interest on the Prior Bonds, to the extent such principal and interest is provided for <br /> from the proceeds of the Bonds or from the Escrow Account under the Escrow Agreement <br /> as hereinabove described, shall be abated. The filing of a certificate of abatement with the <br /> County Clerk shall constitute authority and direction for the County Clerk to make such <br /> abatement. Any of such taxes which have been collected or cannot yet be abated, and subject <br /> to use of same as may be required by the Code in assuring the Tax-exempt status of the <br /> Bonds, shall be applied to the payment of amounts due on the Bonds. <br /> Section 21. Defeasance. Any Bond or Bonds which (a) are paid and canceled, (b) <br /> which have matured and for which sufficient sums been deposited with the Paying Agent to <br /> pay all principal and interest due thereon, or (c) for which sufficient United States funds and <br /> direct United States Treasury obligations have been deposited with the Paying Agent or <br /> similar institution to pay, taking into account investment earnings on such obligations, all <br /> principal of and interest on such Bond or Bonds when due at maturity or as called for <br /> redemption, pursuant to an irrevocable escrow or trust agreement, shall cease to have any <br /> lien on or right to receive or be paid from the Bond Moneys or Pledged Taxes hereunder <br /> -33- <br />