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<br /> <br />.' <br /> <br />. <br /> <br />. <br /> <br />with or without interest from the Debt Service Account when a <br />sufficient balance is available therein. To the extent that it <br />shall ever be necessary to provide full and timely payment of the <br />debt service on the Bonds, the City shall levy an ad valorem tax <br />upon all taxable property within the City sufficient for such <br />purposes. <br /> <br />19. Refunded Bonds; Security. Until retirement and full <br />payment of the 1985A Refunded Bonds and the 1985B Refunded Bonds, <br />as the case may be, all provisions theretofore made for the <br />security of said issue of the Prior Bonds shall be observed by the <br />City. However, the Council hereby finds, determines that the <br />proceeds of the sale of the Bonds to be used to refund the Refunded <br />Bonds, together with other funds available and appropriated to the <br />Escrow Account for said purpose, will be sufficient, together with <br />the earnings on the investment of such funds in the Escrow Account, <br />to pay when called for redemption as herein provided all of the <br />principal of the Refunded Bonds. <br /> <br />20. RedemDtion of Refunded Bonds. The 1985A Bonds which <br />mature in 1995 and thereafter shall be redeemed and prepaid on <br />February 1, 1994, and, at least 30 and not more than 60 days prior <br />to said date, the paying agent/registrar for the 1985A Bonds is <br />hereby authorized and directed to cause notice of said redemption <br />to be given to the owners of the 1985A Bonds in the manner required <br />by law and by the terms of the 1985A Bonds. <br /> <br />The 1985B Bonds which mature in 1995 and thereafter shall be <br />redeemed and prepaid on February 1, 1994, and, at least 30 and not <br />more than 60 days prior to said date, the paying agent/registrar <br />for the 1985B Bonds is hereby authorized and directed to cause <br />notice of said redemption to be given to the owners of the 1985B <br />Bonds in the manner required by law and by the terms of the 1985B <br />Bonds. <br /> <br />21. Escrow Aareement. On or prior to the date of delivery of <br />the Bonds the Mayor and City Administrator shall, and are hereby <br />authorized and directed to, execute on behalf of the City the <br />Escrow Agreement substantially in the form heretofore presented to <br />the City but with such insertions and modifications as shall be <br />deemed by them to be necessary to accomplish its purposes, as <br />evidenced by their execution and delivery thereof. All terms and <br />conditions of such Escrow Agreement, as so executed and delivered, <br />are hereby approved and adopted and made a part of this Resolution. <br /> <br />235883 <br /> <br />18 <br />