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Section 14 . Defeasance of Outstanding Bonds and Disposition <br /> of Bond Proceeds . <br /> A. 1992 Advance Refunding Fund. There is hereby <br /> created in the office of the Treasurer a special fund of the <br /> City, to be held by a banking institution selected by the Finance <br /> Director as authorized herein (the "Refunding Trustee" ) , which <br /> fund shall be known as the 1992 Advance Refunding Fund. The 1992 <br /> Advance Refunding Fund shall be funded with the proceeds of the <br /> Refunding Bonds and other moneys as hereinafter set forth, and <br /> shall be drawn upon as hereinafter set forth solely for the <br /> purpose of paying the principal of and interest on the Refunded <br /> 1988 Bonds . <br /> Moneys in the 1992 Advance Refunding Fund shall be used <br /> immediately upon receipt thereof to defease bonds and discharge <br /> the other obligations of the City under Ordinance No . 1433-88, <br /> adopted January 13, 1988, authorizing the issuance of the 1988 <br /> Bonds, by providing for the payment of the principal of and <br /> interest thereon as hereinafter set forth in this section. The <br /> City shall defease the Refunded 1988 Bonds and discharge such <br /> obligations by the use of moneys in the 1992 Advance Refunding <br /> Fund to purchase certain Acquired Obligations (more particularly <br /> described in the Escrow Agreement) , bearing such interest and <br /> maturing as to principal and interest in such amounts and at such <br /> times which, together with any necessary beginning cash balance, <br /> will provide for the payment of: <br /> 49 FWW003.DOC 92l0em <br />