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<br />nevertheless be discharged by depositing with the Bond Reg- <br />istrar a sum sufficient for the payment thereof in full with <br />interest accrued to the date of such deposit. The City may <br />also discharge its obligations with respect to any prepay- <br />able Bonds by depositing with the Bond Registrar on or <br />before the duly declared date of redemption an amount equal <br />to the principal and interest then due, provided that notice <br />of such redemption has been duly given according to law. <br />The City may also at any time discharge its obligations with <br />respect to any Bonds, subject to the provisions of law now <br />or hereafter authorizing and regulating such action, by <br />depositing irrevocably in escrow, with a bank qualified by <br />law as an escrow agent for this purpose, cash or securities <br />which are authorized by law to be so deposited, bearing <br />interest payable at such times and at such rates and matur- <br />ing on such dates as shall be required to pay all principal <br />and interest on such Bonds as the same become due. <br /> <br />The motion for the adoption of the foregoing resolution <br /> <br />was duly seconded by Counci1member <br /> <br />Williams <br /> <br />, <br /> <br />and upon <br /> <br />vote being taken thereon, the following voted in favor <br /> <br />thereof: Mayor Benke, Councilmerobers Brandt, Schmidt, and Williams <br /> <br />and the following voted against the same: None <br /> <br />whereupon said resolution was declared duly passed and <br /> <br />adopted. <br />Adopted this' 22nd day of July, 1986 <br /> <br />~O,~ <br />R:O~ e, Mayor <br /> <br />ATTEST: <br /> <br /> <br /> <br />-......' <br /> <br />- 14 - <br /> <br />