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The Certificate of Authentication for the Bonds shall be in substantially the following <br /> form and shall appear on each Bond: <br /> AUTHENTICATION CERTIFICATE <br /> This bond is one of the City of Everett, Washington, Variable Rate Demand Limited Tax <br /> General Obligation Bonds, 2001, described in the within-mentioned Bond Ordinance. <br /> WASHINGTON STATE FISCAL <br /> AGENCY, as Registrar <br /> By <br /> Authorized Signatory <br /> Date of Authentication: <br /> Section 2.13. Defeasance. There shall be no defeasance of Bonds prior to the Fixed <br /> Rate Conversion Date. Following the Fixed Rate Conversion Date, if money and/or Government <br /> Obligations maturing at such time(s) and bearing such interest to be earned thereon (without any <br /> reinvestment thereof) as will provide a series of payments that shall be sufficient together with <br /> any money initially deposited, to provide for the payment of the principal of, premium, if any, <br /> and interest on all or a designated portion of the Bonds when due (whether at maturity or upon <br /> earlier redemption in accordance with their respective terms) are set aside in a special fund <br /> (hereinafter called the "trust account") to effect such payment and are pledged irrevocably in <br /> accordance with a refunding or defeasance plan adopted by the City for the purpose of effecting <br /> such payment, then no further payments need be made in the Bond Fund for the payment of the <br /> principal of, interest or redemption premium on such Bonds, the Registered Owners thereof shall <br /> cease to be entitled to any lien, benefit or security of this ordinance, except the right to receive <br /> payment of the principal of, premium, if any, and interest on such Bonds when due in accordance <br /> -30- P\CMW\CMW4ZL 11/20/01 <br />