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provided herein. Prior to any such substitution, the City shall <br /> obtain ( 1) a verification by a certified public accounting firm <br /> which shall be satisfactory to bond counsel to the City that the <br /> moneys and Acquired Obligations on deposit after such substitution <br /> will be sufficient to effect the advance refunding of the <br /> Outstanding B Bonds as set forth herein and in the Safekeeping <br /> Agreement; and (2 ) an opinion from bond counsel that such <br /> substitution (i ) is permitted under Section 8 of Ordinance No. <br /> 536-78 of the City, Section 7 of Ordinance No. 713-80 of the City, <br /> and Section 7 of Ordinance No. 941-83 of the City, and (ii ) shall <br /> not cause interest on any of the Refunding Bonds to become subject <br /> to federal income tax. <br /> C. Disposition of Bond Proceeds and Interfund Transfers. <br /> The proceeds of the Bonds shall be deposited as follows: <br /> 1 . The amount that is necessary to provide for the <br /> purchase of the Acquired Obligations sufficient, together <br /> with the necessary beginning cash balance, for the advance <br /> refunding of the Outstanding A Bonds ( in accordance with <br /> this ordinance, the Safekeeping Agreement, and Section 7 <br /> of Ordinance No. 830-81 of the City) shall be deposited <br /> with the Refunding Trustee and credited to the 1985 Advance <br /> Refunding Fund-A. <br /> 2 . The amount that is necessary to provide for the <br /> purchase of the Acquired Obligations sufficient, together <br /> with the necessary beginning cash balance, for the advance <br /> refunding of the Outstanding B Bonds ( in accordance with this <br /> ordinance, the Safekeeping Agreement, Section 8 of Ordinance <br /> No. 536-78 of the City, Section 7 of Ordinance No . 713-80 of <br /> the City, and Section 7 of Ordinance No. 941-83 of the City) <br /> shall be deposited with the Refunding Trustee and credited to <br /> the 1985 Advance Refunding Fund-B. <br /> -34- WMD202 85/06/10 <br />