Ord 1993-037 - Laserfiche WebLink

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)'-9AF Section 8.05. Investment Income. Interest and income derived from investment of any fund created by this Ordinance shall be credited to such fund. ARTICLE IX --- , PURCHASE OF SECURITIES i I APPROVAL OF ESCROW AGREEMENT I Section 9.01. Purchase of Securities. The City Manager and Director of Finance, either or both of such officials, in cooperation with the Escrow Agent, are authorized to make necessary arrangements for the purchase of the Escrowed Securi ties referenced in the Escrow Agreement, as may be necessary for the Escrow Fund. Section 9.02. Approval of Escrow AGreement. The Escrow Agreement and its execution and deli very by the Mayor are hereby authorized and approved. The signature of the Mayor shall be attested by the City Secretary. .. ARTICLE X PARTICULAR REPRESENTATIONS AND COVENANTS Section 10.01. Pavrnent of the Bonds. While any of the Bonds are outstanding and unpaid, there shall be made available to the Paying Agent/Registrar, out of the Interest ¡ and Sinking Fund, money sufficient to pay the interest on and the i principal of the Bonds, as applicable, as will accrue or mature on each applicable Interest Payment Date. Section 10.02. Other Representations and Covenants. (a) The City will faithfully perform at all times any and all covenants, undertakings, stipulations, and provisions contained in this Ordinance and in each Bondi the City will promptly payor cause to be paid the principal of, interest on, and premium, if any, with respect to, each Bond on the dates and at the places and manner prescribed in such Bondi and the City will, at the times and in the manner prescribed by this Ordinance, deposit or cause to be deposited the amounts of money specified by this Ordinance. (b) The City is duly authorized under the laws of the State of Texas to issue the Bondsi all action on its part for the creation 4579f -28-