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<br />(b) If the amount of money in the Interest and Sinking Fund is at least <br />equal to the aggregate principal amount of the outstanding Bonds plus the aggregate <br />amount of interest due and that wi11 become due and payable on such Bonds. no <br />further deposits to that fund need be made. In determining the aggregate principal <br />amount of outstanding Bonds. there shan be subtracted the amount of any Bonds <br />that have been duly called for redemption and for which money has been deposited <br />with the Paying Agent/Registrar for such redemption. <br /> <br />(c) Money on deposit in the Interest and Sinking Fund shaH be used to pay <br />the principal of and interest on the Bonds as such become due and payable. <br /> <br />ARTICLE VIII <br />INVESTMENTS <br /> <br />Section 8.01. Investments. <br /> <br />(a) Money in each fund created by this Ordinance. at the option of the <br />City. may be invested in such securities or obligations as permitted under applicable <br />law. <br /> <br />(b) Any securities or obligations in which money is so invested shaH be <br />kept and held in trust for the benefit of the Bondholders and shaH be sold and the <br />proceeds of sale shall be timely applied to the making of all payments required to be <br />made from the fund from which the investment was made. <br /> <br />Section 8.01. Investment Income. <br /> <br />Interest and income derived from investment of the Interest and Sinking Fund <br />shall be credited to such Fund. <br /> <br />ARTICLE IX <br />PARTICULAR REPRESENTATIONS AND COVENANTS <br /> <br />Section 9.01. Payment of the Bonds. <br /> <br />Whi1e any of the Bonds are outstanding and unpaid. there shan be made <br />available to the Paying Agent/Registrar, out of the Interest and Sinking Fund. <br />money sufficient to pay the interest on and the maturity amount or principal of the <br />Bonds. as applicable. as wi11 accrue or mature on each applicable February 1 or <br />August 1. <br /> <br />Section 9.02. Other Representations and Covenants. <br /> <br />(a) The City will faithfully perform at all times any and aH covenants. <br />undertakings. stipulations. and provisions contained in this Ordinance and in each <br />Bond; the City will promptly payor cause to be paid the principal of. maturity <br /> <br />0406s <br /> <br />-19- <br />