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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, induding the compensation due or to become due the <br />Paying Agent/Registrar; and <br /> <br />(ii) providing the Paying Agent/Registrar wi th an opinion of <br />nationaHy recognized bond counsel acceptable to the Paying Agent/Registrar <br />to the effect that the deposit specified in subdivision (i) of this subsection (a) <br />will not cause the interest on the Certificates to become subject to federal <br />income taxation. <br /> <br />(b) Subject to subsection (c) of this Section, upon compliance with <br />subsection (a) of this Section, the Certificates shaH no longer be regarded as <br />outstanding and unpaid, and the Paying Agent/Registrar, upon receipt of a letter of <br />instructions from the City requesting the same, shaH discharge and release the lien <br />of this Ordinance and execute and deliver to the City such releases or other <br />instruments as shaH 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 shaH 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, of the <br />fun amount to which the Holders would be entitled by way of principal, <br />premium, if any, and interest to the date of such maturity or prior <br />redemption; <br /> <br />(iii) the investment of such moneys by the Paying Agent! <br />Registrar in securities or obligations. maturing in sufficient time, in the <br />judgment of the Paying Agent/Registrar, to make available the moneys <br />required for such purposes; <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 foHowing the date of such deposit that such moneys are so available <br />for such payment; and <br /> <br />(v) the payment to the City, periodicaHy or foHowing final <br />payment of the principal of, premium, if any, and interest on the <br />Certificates, of any moneys, interest earnings, profits or capital gains over <br />and above the amounts necessary for such purposes. <br /> <br />0405s <br /> <br />-24- <br />