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I I I on or capital gains or profits to be realized from the investment of such money, will be sufficient to pay the principal of, accrued interest on and redemption premium, if any, on such Certificate or Certificates to maturity or prior redemption, and to pay such other amounts as may be reasonably estimated by the Paying Agent/Registrar to become payable under this Ordinance with respect to the Certificate or Certificates being provided for, including the compensation due or to become due the Paying Agent/Registrar; and (ii) ifsuch Certificate or Certificates are scheduled to paid or redeemed on a date later than the next scheduled interest payment date thereon, the City shall establish or cause to be established a separate escrow account fund with the Paying Agent/Registrar or such other lawfully authorized entity pursuant to an escrow deposit agreement for the deposit pursuant to subsection (a)(i) ofthis Section; (iii) the City shall make provision for the investment of such moneys by the Paying Agent/Registrar or such other lawfully authorized entity in: (A) direct noncallable obligations of the United States of America, including obligations that are unconditionally guaranteed by the United States of America, (B) noncallable obligations of an agency or instrumentality of the United States, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the governing body of the City adopts or approves the proceedings authorizing the issuance of refunding obligations, are rated as to investment quality by a nationally recognized investment rating finn not less than AAA or its equivalent, and/or (C) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the governing body of the City adopts or approves the proceedings authorizing the issuance of refunding obligations, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent; provided that such obligations shall mature and/or bear interest payable at such times and in such amounts as will be sufficient to provide for the schedu led payment and/or redemption of such Certificate or Certificates and may be in book entry form; (iv) the City shall make provision for the payment to the Owners at the date of maturity or prior redemption of the full amount to which the Owners of such Certificate or Certificates would be entitled by way of principal and interest to the date of such maturity; and (b) Upon compliance with subsection (a) of this Section, the Certificate or Certificates for the payment of which provision is thus made shall no longer be regarded as outstanding and unpaid, and the Paying Agent/Registrar, upon receipt of a letter of instructions from the City requesting the same, shall discharge and release the lien of this Ordinance as to such Certificate or Certificates and shall execute and deliver to the City such releases or other instruments as shall be requisite to release the lien hereof. (c) Following the final payment of the principal of, interest on and redemption prem ium, if any, of such Certificate or Certificates, any moneys, interest earnings, profits or capital gains over and above the amounts necessary for such purposes shall be paid to the City. (d) Notwithstanding any other provision of this Ordinance to the contrary, any determination not to redeem defeased Certificates that is made in conjunction with the payment arrangements specified above shall not be irrevocable, provided that: (1) in the proceedings providing for such defeasance, the City expressly reserves the right to call the defeased Certificates for redemption; (2) gives notice of the reservation of that right to the owners of the defeased Certificates im mediately followll1g the defeasance, (3) R.ISan MarcoslCO 041DocslOrdinancelCO Ord Final wpd 27