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,.~ 'II . " to the principal and interest then due, provided that notice of such redemption has been duly given according to law. The City may also at any time discharge its obligations with respect to any Bonds, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with a bank qualified by law as an escrow agent for this purpose, cash or securities which are authorized by law to be so deposited, bearing interest payable at such times and at such rates and matur- ing on such dates as shall be required to pay all principal and interest on such Bonds as the same become due. 22. Amendment to Reimbursement Agreement; Expectation of No-Default Thereunder. The Second Amendment to Reim- bursement Agreement presented to the City and proposed to be entered into by the City and the Bank in connection with the issuance of the Bonds is hereby approved, and the officers of the Ci ty are hereby author ized and directed to execute the same upon the issuance of the Bonds, with such amend- ments thereof as such officers with the advice of Bond Coun- sel may deem necessary or desirable, as evidenced by their execution thereof. The Council reasonably expects that no Event of Default under and as defined in the Reimbursement Agreement will occur during the term of said Agreement. 23. Headings. The paragraph headings used in this Resolution are for facilitation of reference only and are not intended to affect the interpretation of the text hereof. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Schmidt , and upon vote being taken thereon, the following voted in favor thereof: Mayor Benke, Councilmembers Brandt, Gunderman, Schmidt, Williams and the following voted against the same: None wher~~pon said resolution was declared duly passed and adopted. Adopted this l2th day of August, ATTEST 1986. RO~ - 20 - CleJ::"k