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<br /> been deposited with the Paying Agent/Registrar either money in an <br /> amount which shall be sufficient, or Government SecuritJ.es the <br /> principal of and the interest on which, when due, will :f>rovide <br /> money which, together with the money, if any, deposited wJ.th the <br /> Paying Agent/Registrar at the same time shall be sufficient to <br /> pay, when due, the principal of such Bonds and the interest to <br /> become due on such Bonds on and prior to the Stated Maturity or <br /> (if notice of redemption has been duly given or waived or if <br /> irrevocable arrangements therefor acceptable to the Paying <br /> Agent/Registrar have been made) the redemption date thereof. <br /> Neither Government Securities nor money deposited with the Paying <br /> Agent/Registrar pursuant to this Section, nor principal or <br /> interest payments on any such Government Securi ties, shall be <br /> withdrawn or used for any purpose other than, and shall be held in <br /> trust for, the payment of the principal of, premium, if any, and <br /> interest on such Bonds. Any cash received from such principal of <br /> and interest on such Government Securities deposited with the <br /> Paying Agent/Registrar, if not needed for such purpose, shall, to <br /> the extent practicable, be reinvested in Government Securi ties <br /> (which may be non-interest bearing) maturing at times and in <br /> amounts sufficient to pay when due the principal of, premium, if <br /> any, and interest on such Bonds on and prior to the Stated <br /> Maturity thereof, and interest earned from such reinvestments <br /> shall be paid over to the City as received by the Paying <br /> Agent/Registrar, free and clear of any trust, lien or pledge. Any <br /> parnnent for Government Securi ties purchased for the purpose of <br /> re nvesting cash as aforesaid shall be made only against delivery <br /> of such Government Securities. <br /> At such time as all of the Bonds are retired, or ~rovision is <br /> made for their payment, money in the Interest and SinkJ.ng Fund, if <br /> any, shall be transferred to the general fund of the City, unless <br /> then required by law to be transferred to some other fund or used <br /> for some other purpose; provided however, that any money held by <br /> the Paying Agent/Registrar which has been provided for the payment <br /> of interest or principal and not so used for any reason shall <br /> continue to be held by the Paying Agent/ Registrar for a period of <br /> three calendar years, and, if not claimed, the same shall be <br /> returned to the City. <br /> Bonds to <br /> Section 18. NO-ARBITRAGE CERTIFICATION. The ci ty <br /> certifies that based on facts, estimates, and circumstances <br /> expected to exist on the date of the issue of the Bonds it is not <br /> reasonable to anticipate that the proceeds thereof will be used in <br /> a manner which would cause them to be "arbi trage bonds" or <br /> obligations within the meaning of section 103(c) of the Internal <br /> Revenue Code of 1954, as amended, or regulations thereunder <br /> applicable thereto, and the City covenants not to make any use of <br /> -18- <br />