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• <br /> shall become due and payable; and (3) that such substitution is <br /> to be accomplished pursuant to this ordinance. Provision for the <br /> substitution of Government Obligations and for the payment of the <br /> Defeased Bonds having been made in accordance with Ordinance Nos. <br /> 1139-85 and 1433-88, the Defeased Bonds are not entitled to any <br /> lien, benefit or security pursuant to the resolutions authorizing <br /> their issuance and shall not be deemed outstanding thereunder, <br /> except for the right to be paid in accordance with their terms <br /> from the cash and obligations deposited as provided herein and in <br /> Ordinance Nos. 1139-85 and 1433-88. <br /> Section 6. Substitution of Government Obligations. The <br /> City reserves the right to substitute other Government <br /> Obligations for the Government Obligations listed in Exhibits B <br /> and D in the event it determines to do so, upon compliance with <br /> the conditions for such substitution contained in the Ordinance <br /> Nos. 1139-85 and 1433-88 and the Escrow Agent Agreements. <br /> Section 7 . Further Actions. The Mayor, the Finance <br /> Director and the Clerk of the City are hereby authorized and <br /> directed to take such other actions and execute such other <br /> documents as may be required to effect the substitution of <br /> Government Obligations as provided herein. <br /> Section 8. Effective Date. This ordinance shall take <br /> effect fifteen days after it becomes valid pursuant to <br /> Section 3 .4 of the City Charter. <br /> -7- WEM024 91/06/24 <br />