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(a) No remedy herein conferred or reserved is intended to be exclusive of any other <br />available remedy or remedies, but each and every such remedy shall be cumulative and shall be in <br />addition to every other remedy given hereunder or under the Bonds or now or hereafter existing at <br />law or in equity; provided, however, that notwithstanding any other provision of this Ordinance, the <br />right to accelerate the debt evidenced by the Bonds shall not be available as a remedy under this <br />Ordinance. <br />(b) The exercise of any remedy herein conferred or reserved shall not be deemed a waiver <br />of any other available remedy. <br />ARTICLE XI <br />DISCHARGE AND DEFEASANCE <br />Section 11.01. Defeasance of Bonds. <br />(a) Any Bond and the interest thereon shall be deemed to be paid, retired and no longer <br />outstanding (a "Defeased Bond") within the meaning of this Ordinance, except to the extent provided <br />in subsections (c) and (e) of this Section, when payment of the principal of such Bond, plus interest <br />thereon to the due date or dates (whether such due date or dates be by reason of maturity, upon <br />redemption, or otherwise) either (i) shall have been made or caused to be made in accordance with <br />the terms thereof (including the giving of any required notice of redemption or the establishment of <br />irrevocable provisions for the giving of such notice) or (ii) shall have been provided for on or before <br />such due date by irrevocably depositing with or making available to the Paying Agent/Registrar or <br />an eligible trust company or commercial bank for such payment (1) lawful money of the United States <br />of America sufficient to make such payment, (2) Defeasance Securities, certified by an independent <br />public accounting firm of national reputation to mature as to principal and interest in such amounts <br />and at such times as will ensure the availability, without reinvestment, of sufficient money to provide <br />for such payment and when proper arrangements have been made by the City with the Paying <br />Agent/Registrar or an eligible trust company or commercial bank for the payment of its services until <br />all Defeased Bonds shall have become due and payable or (3) any combination of (1) and (2). At <br />such time as a Bond shall be deemed to be a Defeased Bond hereunder, as aforesaid, such Bond and <br />the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the <br />revenues herein pledged as provided in this Ordinance, and such principal and interest shall be payable <br />solely from such money or Defeasance Securities. <br />(b) The deposit under clause (ii) of subsection (a) shall be deemed a payment of a Bond <br />as aforesaid when proper notice of redemption of such Bonds shall have been given or upon the <br />establishment of irrevocable provisions for the giving of such notice, in accordance with this <br />Ordinance. Any money so deposited with the Paying Agent/Registrar or an eligible trust company <br />or commercial bank as provided in this Section may at the discretion of the City Council also be <br />invested in Defeasance Securities, maturing in the amounts and at the times as hereinbefore set forth, <br />and all income from all Defeasance Securities in possession of the Paying Agent/Registrar or an <br />eligible trust company or commercial bank pursuant to this Section which is not required for the <br />San Marcos GO 2009: Ordinance 30