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<br /> ( ( 7// 1- <br /> ARTICLE XIII <br /> - <br /> DISCHARGE <br /> Section 13.01. Discharge bv Payment. <br /> <br /> When all Bonds have been paid in full as to principal and as to interest and premium, if any, or when all <br /> Bonds have become due and payable, whether at maturity or otherwise, and the City shall have provided for the <br /> payment of the whole amOlmt due or to become due on all Bonds then outstanding, including all interest that has <br /> accrued thereon or that may accrue to the date of maturity, and any premium due or that may become due at <br /> maturity, by depositing with the Paying Agent/Registrar, for payment of the principal of such outstanding Bonds <br /> and the interest accrued thereon and any premium due thereon, the entire amount due or to become due thereon, <br /> and the City shall also have paid or caused to be paid all sums payable tmder this Ordinance by the City, including <br /> the compensation due or to become due the Paying Agent/Registrar, then the Paying Agent/Registrar, upon <br /> receipt of a letter of instructions from the City requesting the same, shall discharge and release the lien of this <br /> Ordinance and execute and deliver to the City such releases or other instruments as shall be requisite to release <br /> the lien hereof. <br /> Section 13.02. Discharge bv Deposit. <br /> <br /> (a) The City may discharge its obligation to pay the principal of, premium, if any, and interest on <br /> all or any portion of the Bonds and its obligation to pay other sums payable or to become payable under this <br /> Ordinance by the City, including the compensation due or to become due the Paying Agent/Registrar, by: <br /> { <br /> (i) depositing or causing to be deposited with the Paying Agent/Registrar an amount of <br /> money that, together with the interest earned on or capital gains or profits to be realized from the <br /> investment of such money, will be sufficient to pay the principal of, premium, if any, and accrued interest <br /> on such Bonds to maturity or to the date fixed for prior redemption of such Bonds, and to pay such other <br /> amounts as may be reasonably estimated by the Paying AgenURegistrar to become payable under this <br /> Ordinance, including the compensation due or to become due the Paying AgenURegistrar; and <br /> (ii) providing the Paying AgenURegistrar with an opinion of nationally recognized bond <br /> cotmSel acceptable to the Paying Agent/Registrar to the effect that the deposit specified in subdivision <br /> (i) of this subsection (a) will not cause the interest on the Bonds to become subject to federal income <br /> taxation. <br /> (b) Subject to subsection (c) ofthis Section, upon compliance with subsection (a) of this Section, <br /> the Bonds for \'Iimch provision is so made shall no longer be regarded as outstanding and unpaid, and the Paying <br /> AgenURegistrar, upon receipt of a letter of instructions from the City requesting the same, shall discharge and <br /> release the lien of this Ordinance and execute and deliver to the City such releases or other instruments as shall <br /> be requisite to release the lien hereof. <br /> (c) Before the discharge and release of the lien of this Ordinance pursuant to this Section, provision <br /> shall have been made by the City with the Paying AgenURegistrar for: <br /> (i) the establishment of a separate escrow account ftmd with the Paying Agent/Registrar <br /> for the deposit pursuant to subsection (a)(i) of this Section; <br /> JL ""-'"UAA\ WW3.19GIDOCro1\DNCE.FN 31 <br />