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conclusive evidence that the Bonds so authenticated have been duly executed, authenticated and <br />delivered hereunder and are entitled to the benefits of this ordinance. <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 14. 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 />-52- P \20287 CMWM20287 B32 09/09/15 <br />