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_ 1 <br /> Such Acquired Obligations shall be purchased at a yield not greater than the yield <br /> permitted by the federal Internal Revenue Code of 1986 and regulations relating to acquired <br /> obligations in connection with refunding bond issues. <br /> Such beginning cash balance and Acquired Obligations shall be irrevocably deposited in <br /> the 1993 Advance Refunding Fund with the Refunding Trustee pursuant to the Escrow <br /> Agreement. Any amounts described in subparagraphs (a) and (b) of this section which are not <br /> provided for in full by such beginning cash balance and the purchase and deposit of the Acquired <br /> Obligations described in this section shall be provided for by the irrevocable deposit of the <br /> necessary amount out of the proceeds of sale of the 1993 Bonds or any other monies of the City <br /> legally available therefor with the aforesaid Refunding Trustee. The proceeds of the 1993 Bonds <br /> remaining in the 1993 Advance Refunding Account after acquisition of the Acquired Obligations <br /> and provision for the necessary beginning cash balance shall be utilized to pay expenses of the <br /> acquisition and safekeeping of the Acquired Obligations. <br /> Such necessary beginning cash balance and Acquired Obligations shall be deposited in <br /> trust in the 1993 Advance Refunding Fund with the Refunding Trustee pursuant to the Escrow <br /> Agreement. Such beginning cash and Acquired Obligations are hereby irrevocably pledged to be <br /> held and applied solely for the payment of the principal and interest due and to become due on the <br /> Refunded 1988 Bonds, provided, however, that the City may from time to time transfer, or cause <br /> to be transferred, from the 1993 Advance Refunding Fund to the Revenue Fund any moneys not <br /> required for payment of the principal and interest due and to become due on the Refunded 1988 <br /> Bonds upon securing: <br /> (1) a verification by a certified public accounting firm which shall be <br /> satisfactory to bond counsel to the City that the moneys and Acquired Obligations on <br /> deposit after such transfer will be sufficient to effect the advance refunding of the <br /> Refunded 1988 Bonds as set forth herein and in the Escrow Agreement; and <br /> -31- FWW04E.DCC 93/10128 <br />