Laserfiche WebLink
<br /> Section 10.O3. Remedies Not Exclusive. <br /> (a) No remedy herein conferred or reserved is intended to <br /> be exclusive of any other available remedy or remedies, but each and <br /> every such remedy shall be cumulative and shall be in addition to <br /> every other remedy given hereunder or under the Bonds or now or <br /> hereafter existing at law or in equity; provided, however, that <br /> notwithstanding any other provision of this Ordinance, the right to <br /> accelerate the 'debt evidenced by the Bonds shall not be available as <br /> a remedy under this Ordinance. <br /> (b) The exercise of any remedy herein conferred or reserved <br /> shall not be deemed a waiver of any other available remedy. <br /> ARTICLE XI <br /> DISCHARGE <br /> Section II. 01. Discharge by Payment. <br /> <br /> When all Bonds have been paid in full as to principal and as <br /> to interest and premium, if any, or when all Bonds have become due <br /> and payable, whether at maturity or otherwise, and the City shall <br /> have provided for the payment of the whole amount due or to become <br /> 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 <br /> premium due or that may become due at maturity, by depositing with <br /> the Paying Agent/Registrar, for payment of the principal of such <br /> outstanding Bonds and the interest accrued thereon and any premium <br /> due thereon, the entire amount due or to become due thereon, and the <br /> City shall also have paid or caused to be paid all sums payable <br /> under this Ordinance by the City, including the compensation due or <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 City such releases or <br /> other instruments as shall be requisite to release the lien hereof. <br /> Section'II.02. Discharqe by Deposit. <br /> <br /> (a) The City may discharge its obligation to pay the <br /> principal of, premJ.um, 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 capital 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 /> 4177f <br /> -25- <br />