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<br />money, will be sufficient to pay the principal of, premium, if any, and <br />accrued interest on such Certificates to maturity or to the date fixed for <br />prior redemption of such Certificates, and to pay such other amounts as may <br />be reasonably estimated by the Paying Agent/Registrar to become payable <br />under this Ordinance, including the compensation due or to become due the <br />Paying Agent/Registrar; and <br /> <br />(ii) providing the Paying Agent/Registrar with an opinion of <br />nationally recognized certificate counsel acceptable to the Paying <br />Agent/Registrar to the effect that the deposit specified in subdivision (i) of <br />this subsection (a) will not cause the interest on the Certificates to become <br />subject to federal income taxation. <br /> <br />(b) Subject to subsection (c) of this Section, upon compliance with <br />subsection (a) of this Section, the Certificates for which provision is so made shall <br />no longer be regarded as outstanding and unpaid, and the Paying Agent/Registrar, <br />upon receipt of a letter of instructions from the City requesting the same, shall <br />discharge and release the lien of this Ordinance and execute and deliver to the City <br />such releases or other instruments as shall be requisite to release the lien hereof. <br /> <br />(c) Before the discharge and release of the lien of this Ordinance <br />pursuant to this Section, provision shall have been made by the City with the Paying <br />Agent/Registrar for: <br /> <br />(i) the establishment of a separate escrow account fund with the <br />Paying Agent/Registrar for the deposit pursuant to subsection (a)(i) of this <br />Section; <br /> <br />(ii) the payment to the Holders at the date of maturity or at the <br />date fixed for prior redemption, as applicable, of the full amount to which <br />the Holders would be entitled by way of principal, premium, if any, and <br />interest to the date of such maturity or prior redemption; <br /> <br />(iii) the investment of such moneys by the Paying Agent/ <br />Registrar in direct obligations of the United States of America, including <br />obligations the principal of and interest on which are unconditionally <br />guaranteed by the United States of America, which may be in book entry <br />form, maturing and/or bearing interest payable at such times and in such <br />amounts as will be sufficient to provide for the scheduled payments of such <br />certificates; <br /> <br />(iv) the sending of written notice by registered or certified <br />United States mail to the Holder of each Certificate then outstanding within <br />30 days following the date of such deposit that such moneys are so available <br />for such payment; and <br /> <br />(v) the payment to the City, periodically or following final <br />payment of the principal of, premium, if any, and interest on the <br />Certificates, of any moneys, intere~t earnings, profits or capital gains over <br />and above the amounts necessary for such purposes. <br /> <br />2389f <br /> <br />-26- <br />