Ordinance 1891-92 - Laserfiche WebLink

balance in such Fund. The Acquired Obligations and beginning cash balance shall be applied by the Refunding Trustee to the payment of the principal and interest due and to become due on the Refunded 1988 Bonds in accordance with the schedule set forth in Appendix B hereof . The Acquired Obligations and beginning cash balance in the 1992 Advance Refunding Fund shall be held in trust for the secur- ity and benefit of the holders and owners of the Refunded 1988 Bonds (subject to the right to substitute obligations pursuant to Section 14 of the Bond Ordinance) . The City agrees that it will cause to be delivered to the Refunding Trustee, on or before the delivery of the Refunding Bonds to the initial purchasers thereof, statements setting forth the maturity schedule of the Refunded 1988 Bonds by number, amount, date of maturity and interest rates, the amount of inter- est to be paid on each semiannual interest payment date, the amount of principal to be paid on each annual principal payment date, and the redemption price to be paid on the date that any Refunded 1988 Bonds are to be redeemed, together with an opinion of a certified public accounting firm regarding the sufficiency of the Acquired Obligations and moneys to be deposited in the 1992 Advance Refunding Fund. The City, by Section 14 of the Bond Ordinance, has irrevo- cably called the Refunded 1988 Bonds maturing on and after July 1, 1999, for redemption and prepayment on July 1, 1998 . The call for redemption and prepayment of such Refunded 1988 Bonds B-3 FWW003.DOC 92/09/21