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<br /> )L('A~ <br /> to become due the Paying Agent/Registrar, then the Paying <br /> Agent/Registrar, upon receipt of a letter of instructions from the <br /> City requesting the same, shall discharge and release the lien of <br /> this Ordinance and execute and deliver to the Ci ty such releases or <br /> other instruments as shall be requisite to release the lien hereof. <br /> Section 11.02. Discharqe by Deposit. <br /> (a) The City may discharge its obligation to pay the <br /> principal of, premium, if any, and interest on all or any portion of <br /> the Bonds and its obligation to pay other sums payable or to become <br /> payable under this Ordinance by the City, including the compensation <br /> due or to become due the Paying Agent/Registrar, by: <br /> (i) depositing or causing to be deposited with the <br /> Paying Agent/Registrar an amount of money that, together with <br /> the interest earned on or capita I gains or profits to be <br /> realized from the investment of such money, will be sufficient <br /> to pay the principal of, premium, if any, and accrued interest <br /> on such Bonds to maturity or to the date fixed for prior <br /> redemption of such Bonds, and to pay such other amounts as may <br /> be reasonably estimated by the Paying Agent/Registrar to <br /> become payable under this Ordinance, including the <br /> compensation due or to become due the Paying Agent/Registrar; <br /> and ~ <br /> (ii) providing the Paying Agent/Registrar with an <br /> opinion of nationally recognized bond counsel acceptable to <br /> the Paying Agent/Registrar to the effect that the deposit <br /> specified in subdivision (i) of this subsection (a) will not <br /> cause the interest on the Bonds to become subject to federal <br /> income taxation. <br /> (b) Subject to subsection (c) of this Section, upon <br /> compliance with subsection (a) of this Section, the Bonds for which <br /> provision is so made shall no longer be regarded as outstanding and <br /> unpaid, and the Paying Agent/Registrar, upon receipt of a letter of <br /> instructions from the City requesting the same, shall discharge and <br /> release the lien of this Ordinance and execute and deliver to the <br /> City such releases or other instruments as shall be requisite to <br /> release the lien hereof. <br /> (c) Before the discharge and release of the lien of this <br /> Ordinance pursuant to this Section, provision shall have been made <br /> by the City with the Paying Agent/Registrar for: <br /> (i) the establishment of a separate escrow account <br /> fund with the Paying Agent/Registrar for the deposit pursuant <br /> to subsection (a)(i) of this Section; <br /> 4417f <br /> -29- <br />