RES 67055 - Laserfiche WebLink

46 stipulations, promises or agreements in this Resolution contained by and on beimlf of the City shall be for the sole and exclusive benefit of the holders of the Bollds and coupons and the Fiscal Agent. SECTION 9.03. Successor Is Deemed Included in All Re~erenCes to Pre~,- cessor. Whenever in this Resolution or any Supplemental Resolution either ~he City or the Fiscal Agent or any Paying Agent is named or referred to, such ence shall be deemed to include the successors or assigns thereof, and ail the e. ove- nants and agreements in this Resolution contained by or on behalf of the City. or the Fiscal Agent or any Paying Agent shail bind and inure to the benefit of respective successors and assigns thereof whether so expressed or not. SECTION 9.04. Discharge of Resolution. If the City shall pay and discharge the entire indebtedness on all Bonds outstanding in any one or more of the follow- ing ways- (a) by well and truly paying or causing to be paid the principal of t~ad interest on Bonds outstanding, as and when the same become due and paYable; (b) by depositing with the Fiscal Agent, in trust, at or before matullty, money which, together with the amounts then on deposit ia the Reserve Account, is fully sufficient to pay Bonds outstanding, including all principal, interest and redemption premiums; and (c) by depositing with the Fiscal Agent, in trust, bonds of the United States of America, Treasury notes, certificates of indebtedness, bills Or o~er evidence of indebtedness secured by the full faith and credit of tl~ Una~d States, and also any securities both the principal of and interest on whielfare guaranteed directly or indirectly by the full faith and credit of the Unl~d States of America, in such amount as the Fiscal Agent shall determine will, together with thc interest to accrue thereon and moneys then on deposit in th, Reserve Account, be fully sufficient to pay and di~scharge the indgbtedness on all Bonds (including all pringipal, interest and redemption premiums) at or before their respective maturity dates-- and if such Bonds are to be redeemed prior to the maturity thereof notice of such redemption shall have been given as in this Resolution provided or provision satis- factory to the Fiscal Agent shall have been made for the giving of such notice, then, at the election of the City, and notwithstanding that any Bonds or inter~t coupons shall not have been surrendered for payment, the pledge of the Revenues and other funds provided for in this Resolution and all other obligations of the City under this Resolution shall cease and terminate, except only the obligation of the City to pay or cause to be paid to the holders of the Bonds and interest coupons not so surrendered and paid all sums due thereon. Notice of such election shall be filed with the Fiscal Agent and each Paying Agent. Any funds held by any Paying Agent, at the time of receipt by the Paying Agent of such notice from the City, which are not required for the purpose above mentioned, shall be paid over to the Fiscal Agent. Any funds thereafter held by the