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Date of Optional Prepayment Authorizing Approving <br /> Lease Obligations Dates COP Series Ordinance Resolution <br /> April 23, 1991 April 1, 2001 1991A 1774-91 3541 <br /> October 1, 1991 October 1, 2001 1991C 1818-91 3538 <br /> May 31, 1992 March 1, 2002 1992A 1858-92 3605 <br /> Such Acquired Obligations shall be purchased at a yield not greater than the yield <br /> permitted by the Code and regulations relating to acquired obligations in connection with <br /> refunding bond issues. <br /> In order to carry out the advance refunding and defeasance of the Refunded Obligations, <br /> the Finance Director is hereby authorized to appoint, as refunding trustee, a bank or trust <br /> company qualified by law to perform the duties described herein (the "Refunding Trustee"). Any <br /> beginning cash balance and the Acquired Obligations shall be irrevocably deposited with the <br /> Refunding Trustee in an amount sufficient to defease and redeem the Refunded Obligations in <br /> accordance with this Section 13 and Section 14 of this ordinance. Any amounts described in <br /> subparagraphs (a) through (c) of this section that are not provided for in full by such beginning <br /> cash balance and the purchase and deposit of the Acquired Obligations described in this section <br /> shall be provided for by the irrevocable deposit of the necessary amount out of the proceeds of <br /> sale of the Bonds or any other money of the City legally available therefor with the Refunding <br /> Trustee. The proceeds of the Bonds remaining in the Advance Refunding Account after <br /> acquisition of the Acquired Obligations and provision for the necessary beginning cash balance <br /> shall be utilized to pay expenses of the acquisition and safekeeping of the Acquired Obligations <br /> and the costs of issuing the Bonds. The City may, from time to time, transfer, or cause to be <br /> transferred, from the Advance Refunding Account any moneys not thereafter required for the <br /> purposes set forth in subparagraphs (a) through (c) above, respectively, subject to verification in <br /> writing by an independent certified public accountant that such transfer will not result in <br /> inadequate funds being available to make the required payments therefrom. The City reserves the <br /> right to substitute other securities for the Acquired Obligations in the event it may do so pursuant <br /> -19- J:\FWWI#HOMEW3N3CXDOC <br />