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<br />. <br /> <br />. <br /> <br />. <br /> <br />(e) not more than $10,000,000 of obligations issued by <br />the City (or any entity subordinate to, or treated as one <br />issuer with, the City) during calendar year 1993 have been <br />designated for purposes of Section 265(b) (3) of the Code. <br /> <br />The city shall use its best efforts to comply with any federal <br />procedural requirements which may apply in order to effectuate the <br />designation made by this paragraph. <br /> <br />27. SupDlemental Resolution. The August 12, 1985, <br />resolutions of the Council authorizing the issuance of the 1985A <br />Bonds and the 1985B Bonds, respectively, Resolution Nos. 85-39 and <br />85-40, are hereby supplemented to the extent necessary to give <br />effect to the provisions of this Resolution. <br /> <br />28. Defeasance. When any obligation of a Bond has been <br />discharged as provided in this paragraph, all pledges, covenants <br />and other rights granted by this Resolution to the registered owner <br />of that Bond (with respect to the obligation thereof so defeased) <br />shall, to the extent permitted by law, cease. The City may at any <br />time discharge any or all of such obligation(s) with respect to any <br />Bond, subject to the provisions of law now or hereafter authorizing <br />or regulating such action, by depositing irrevocably in escrow, <br />with a suitable "institution qualified by law as an escrow agent for <br />this purpose, cash or securities which are backed by the full faith <br />and credit of the United States of America, bearing interest <br />payable at such times and at such rates and maturing on such dates <br />and in such amounts as shall be required and sufficient, subject to <br />sale and/or reinvestment in like securities, to pay said <br />obligation(s), which may include any interest paYment on such Bond <br />and/or principal amount due thereon at a stated maturity (or if <br />irrevocable provision shall have been made for permitted prior <br />redemption of such principal amount, at such earlier redemption <br />date). <br /> <br />29. Severability. If any section, paragraph or provision of <br />this Resolution shall be held to be invalid or unenforceable for <br />any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining <br />provisions of this Resolution. <br /> <br />30. Headinqs. Headings in this Resolution are included for <br />convenience of reference only and are not a part hereof, and shall <br />not limit or define the meaning of any provision hereof. <br /> <br />235883 <br /> <br />21 <br />