Ordinance 2663-02 - Laserfiche WebLink

and expenses of the issuance of the Refunding Bonds and/or returned to the City for the payment of such expenses. Section 9. Call For Redemption of Refunded Bonds and Escrow Agreement. (a) Call For Redemption of the Refunded Bonds. The City hereby irrevocably sets aside sufficient funds out of the purchase of Acquired Obligations from proceeds of the Refunding Bonds to make the payments described in Section 8 of this ordinance. The City hereby irrevocably calls the 1993 Refunded COPs for redemption on March 1, 2003 and the 1993 Refunded Bonds for redemption on December 1, 2003, in accordance with terms of the 1993 Trust Agreement and 1993 Bond Ordinance, respectively, pursuant to which the Refunded Bonds were issued, authorizing the redemption and retirement of the Refunded Bonds prior to their fixed maturities. Said defeasance and call for redemption of the Refunded Bonds shall be effective and irrevocable after the final establishment of the escrow account and delivery of the Acquired Obligations to the Escrow Agent. The Escrow Agent is hereby authorized and directed to provide for the giving of notice of the redemption of the Refunded Bonds in accordance with the applicable provisions of the 1993 Trust Agreement and the 1993 Bond Ordinance, respectively. The Finance Director of the City is authorized and requested to provide whatever assistance is necessary to accomplish such redemption and the giving of notice therefor. The costs of publication of such notices shall be an expense of the City. The Escrow Agent is hereby authorized and directed to pay to the fiscal agency or agencies of the State of Washington, sums sufficient to pay, when due, the payments specified in Section 8 of this ordinance. All such sums shall be paid from the moneys and Acquired -24- P•\CMW\CMW5IL 12/06/02