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3 <br /> In case either of the officers who shall have executed the Bonds shall cease to be an <br /> officer or officers of the City before the Bonds so signed shall have been authenticated or <br /> delivered by the Registrar, or issued by the City, such Bonds may nevertheless be authenticated, <br /> delivered and issued and upon such authentication, delivery and issuance, shall be as binding <br /> upon the City as though those who signed the same had continued to be such officers of the City. <br /> Any Bond may also be signed and attested on behalf of the City by such persons who are at the <br /> actual date of delivery of such Bond the proper officers of the City although at the original date <br /> of such Bond any such person shall not have been such officer of the City. <br /> Section 13. Defeasance. In the event that the City, in order to effect the payment, <br /> retirement or redemption of any Bond, sets aside in the Revenue Bond Fund or in another special <br /> account, cash or noncallable Government Obligations, or any combination of cash and/or <br /> noncallable Government Obligations, in amounts and maturities which, together with the known <br /> earned income therefrom, are sufficient to redeem or pay and retire such Bond in accordance <br /> with its terms and to pay when due the interest and redemption premium, if any, thereon, and <br /> such cash and/or noncallable Government Obligations are irrevocably set aside and pledged for <br /> such purpose, then no further payments need be made into the Revenue Bond Fund for the <br /> payment of the principal of and interest on such Bond. The owner of a Bond so provided for <br /> shall cease to be entitled to any lien, benefit or security of this ordinance except the right to <br /> receive payment of principal, premium, if any, and interest from such special account, and such <br /> Bond shall be deemed to be not outstanding under this ordinance. <br /> The Registrar shall provide notice of defeasance of Bonds to Registered Owners and to <br /> each party entitled to receive notice in accordance with Section 17 of this ordinance. <br /> -50- P120287_CMWt20287_9RC 01/02/13 <br /> 57 <br />