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1 irrevocably for such purpose, then no further payments need to <br /> 2 be made into the Bond Fund for the payment of the principal of <br /> 3 and interest on the Bonds , and the Bonds shall cease to be <br /> 4 entitled to any lien, claim, benefit or security of this ordi- <br /> 5 nance or of the Local Improvement Guaranty Fund except the right <br /> 6 to receive the money so set aside and pledged, and thereafter <br /> 7 the Bonds shall be deemed not to be outstanding hereunder . <br /> 8 Section 10 . Harper, McLean & Company of Seattle, <br /> 9 Washington, has presented a purchase contract (the "Purchase <br /> 10 Contract" ) to the City offering to purchase the Bonds under the <br /> 11 terms and conditions provided in the Purchase Contract , which <br /> 12 written Purchase Contract is on file with the City Clerk and is <br /> 13 incorporated herein by this reference. The City Council finds <br /> 14 that entering into the Purchase Contract is in the City' s best <br /> 15 interest and therefore accepts the offer contained therein and <br /> 16 authorizes its execution by City officials . <br /> 17 The Bonds will be printed at City expense and will be <br /> 18 delivered to the purchaser in accordance with the Purchase <br /> 19 Contract, with the approving legal opinion of Foster Pepper & <br /> 20 Shefelman, municipal bond counsel of Seattle, Washington, <br /> 21 regarding the Bonds printed on each Bond. Bond counsel shall <br /> 22 not be required to review and shall express no opinion concern- <br /> 23 ing the completeness or accuracy of any official statement , <br /> 24 offering circular or other sales material issued or used in <br /> 25 <br /> - 9 - <br />