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. • <br /> pay, in full, all further costs, ezpenses, and fees associated with purchasing said security <br /> (bond). It is further agreed and understood that the entire proceeds of said security (bond) <br /> shall be due and payable solely to the City. <br /> The terms and provisions of this Resolution are subject to the following <br /> requirements which must be completed by the date set forth herein, or the authorization <br /> granted herein shall be considered null and void and revoked in its entirely. As a condition <br /> precedent to the authorization set forth herein, James C. Bacon, Jr., shall purchase and <br /> obtain the Zero Coupon Treasury Security (bond) described above and shall deliver same <br /> to the City or, its lawfully authorized designee, on or before December 31, 1996. <br /> 3. That, should James C. Bacon, Jr., fail to perform as required in § 2 hereof, <br /> completely and fully as set forth therein, the authorization granted within this Resolution, <br /> and specifically § 1 hereof, is revoked and shatt be deemed null and void for all purposes. <br /> Prese�ted and Adopted this l lth day of March, 1996. <br /> TER�tY M. HOWLE A R <br /> ATTE5T: <br /> �______ _____--'' <br /> PHYL E. SA DS, CIT'Y CLERK <br />