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<br />. .
<br />
<br />.
<br />
<br />fund redemptions of the Series 1985 Bonds which occur on or
<br />prior to the Conversion Date and (b) 100% of the principal
<br />amounts of the optional redemption of all of the principal
<br />amounts of the Ser ies 1985 Bonds otherwise outstanding on
<br />the Crossover Date. To the extent that the City has hereby
<br />provided the above-described security for the payment of the
<br />principal of the Series 1985 Bonds, said principal is
<br />thereby effectively discharged and defeased under paragraph
<br />16 of the Series 1985 Bond Resolution and Article VII of the
<br />Series 1985 Indenture. To the extent of the foregoing pro-
<br />visions for such payments of the pr incipa1 of the Ser ies
<br />1985 Bonds, the Tax Levies can be and are hereby cancelled,
<br />and the following Revised Tax Levies are hereby made, con-
<br />sisting of the Revised Series 1985 Tax Levies and the Series
<br />1986 Tax Levies, respectively, and to such end there are
<br />hereby lev led di rect, annual, and irrepealable ad valorem
<br />taxes against all taxable properties in the City, which tax
<br />levies shall be in the years and amounts as follows,
<br />respectively (year stated being year of levy for collection
<br />the following year):
<br />
<br /> Revised
<br /> Series 1985 Series 1986
<br />Year Tax Levies Tax Levies Total
<br />1986 $168,750 $105,000 $273,750
<br />1987 217,500 105,000 322,500
<br />1988 207,500 183,750 391,250
<br />1989 197,500 259,350 456,850
<br />1990 187,500 252,525 440,025
<br />1991 131,250 295,837 427,087
<br />1992 284,812 284,812
<br />1993 273,787 273,787
<br />1994 262,762 262,762
<br />1995 301,770 301,770
<br />1996 285,810 285,810
<br />1997 269,850 269,850
<br />1998 253,890 253,890
<br />1999 237,930 237,930
<br />2000 272,475 272,475
<br />
<br />The foregoing Revised Series 1985 Tax Levies are hereby
<br />made and pledged for the purpose of paying, together wi th
<br />the proceeds of the Series 1985 Bonds constituting capital-
<br />ized interest thereon and available for such purposes, the
<br />interest on the Series 1985 Bonds, when due (calculated at
<br />the Maximum Interest Rate of 10% per annum, as prescribed in
<br />the Series 1985 Indenture), and the Revised Series 1985 Tax
<br />Levies shall be irrepealable until all of the interest on
<br />the Series 1985 Bonds shall have been paid and until the
<br />City has fully paid any of its owed and unpaid obligations
<br />
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