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The City will take such actions as are found necessary to see that all necessary and proper <br /> fees, compensation and expenses of the Refunding Trustee for the Refunded 1988 Bonds shall be <br /> paid when due. <br /> The Refunding Trustee, acting in concert with the Treasurer and the Finance Director of <br /> the City, is hereby authorized and directed to provide for the giving of notice of the redemption of <br /> such Refunded 1988 Bonds in accordance with the provisions of such ordinance. The Treasurer <br /> and Finance Director of the City are authorized and requested to provide whatever assistance is <br /> necessary to accomplish such redemption and the giving of notice therefor. The costs of <br /> publication of such notice shall be an expense of the City. <br /> Section 13. Finding of Defeasance. The Council hereby finds and determines that the <br /> moneys and Acquired Obligations to be deposited with the Refunding Trustee to pay the principal <br /> and interest due and to become due on the Refunded 1988 Bonds are sufficient to pay such <br /> amounts and will discharge and satisfy the obligations of the City under Ordinance No. 1433-88 <br /> authorizing the issuance of the Refunded 1988 Bonds and the pledges, charges, trusts, covenants <br /> and agreements of the City therein made. The Refunded 1988 Bonds shall be deemed to be <br /> defeased and no longer outstanding immediately upon the deposit of such moneys and Acquired <br /> Obligations with the Refunding Trustee. <br /> Section 14. Issuance of Future Parity Bonds. The City hereby further covenants and <br /> agrees with the owners and holders of each of the 1993 Bonds for as long as any of the same <br /> remain outstanding that the City will not issue any bonds or other obligations having a greater or <br /> equal priority of lien upon the Revenue of the System to pay and secure the payment of the <br /> principal of and interest on such bonds or other obligations than the lien created upon the <br /> Revenue of the System to pay and secure the payment of the principal of and interest on the 1993 <br /> Bonds except as follows: <br /> A. The City reserves the right to issue future Parity Bonds for the purposes of <br /> -35- FWW04E.00c 93/10/28 <br />