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the investment of such moneys shall be deposited in the Bond <br /> Fund. <br /> SECTION 8 . Defeasance. In the event that money and/or <br /> "Government Obligations, " as such Obligations are now or may <br /> hereafter be defined in Ch. 39. 53 RCW, maturing at such time or <br /> times and bearing interest to be earned thereon in amounts <br /> sufficient to redeem and retire the Bonds or a portion of the <br /> Bonds in accordance with their terms, are set aside in a special <br /> account to effect such redemption or retirement and such money <br /> and the principal of and interest on such Obligations are <br /> irrevocably set aside and pledged for such purpose, then no <br /> further payments need be made into the Bond Fund for the payment <br /> of the principal of and interest on the Bonds so provided for and <br /> such Bonds shall cease to be entitled to any lien, benefit or <br /> security of this ordinance except the right to receive the funds <br /> so set aside and pledged, and such Bonds shall be deemed not to <br /> be outstanding hereunder. <br /> SECTION 9 . Payment of Arbitrage Rebate . <br /> A. General Rule. The City will pay to the United <br /> States of America in accordance with the provisions of this <br /> Section (i) at least 90 percent of the Rebatable Arbitrage with <br /> respect to the Bonds as of each Installment Computation Date, and <br /> (ii) 100 percent of the Rebatable Arbitrage with respect to the <br /> Refunding Bonds as of the Final Computation Date. <br /> B. Computation of Rebatable Arbitrage. The Rebatable <br /> Arbitrage with respect to the Bonds computed in accordance with <br /> -15- FWWOOH.DOC 93/01/08 <br />