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Lease payments so due thereunder as the same shall become due. All <br /> of such taxes so collected and any of such other moneys shall be <br /> paid into the General Fund of the City and such Lease payments <br /> shall be an obligation of the General Fund of the City. <br /> The City hereby irrevocably pledges that the annual tax <br /> provided for herein to be levied for the payment of such Lease <br /> payments shall be within and as a part of the tax levy permitted <br /> the City without a vote of the people and that a sufficient portion <br /> of each such annual tax to be levied and collected by the City <br /> prior to the full payment of such Lease payments due will be and <br /> is hereby irrevocably set aside, pledged and appropriated for the <br /> payment of the principal of and interest components of all Lease <br /> payments so due. <br /> The full faith, credit and resources of the City are hereby <br /> pledged for the annual levy and collection of such taxes and for <br /> the prompt payment of such Lease payments as the same shall become <br /> due. <br /> Section 7 . Defeasance. In the event that money and/or <br /> "Government Obligations" , as such obligations are now or may <br /> hereafter be defined in Ch. 39 . 53 RCW, maturing at such time or <br /> times and bearing interest to be earned thereon in amounts <br /> sufficient to pay or prepay all Lease payments due under the Lease <br /> in accordance with the terms of the Lease, are set aside in a <br /> special account to effect such payment or prepayment and such money <br /> and the principal of and interest on such Lease payments are <br /> irrevocably set aside and pledged for such purpose, then no further <br /> payments need be made, of any Lease payments under the Lease and <br /> -6- FWW068 91/03/06 <br />