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Section 10. Defeasance. When all Bonds and all interest thereon have been discharged as <br />provided in this Section, all pledges, covenants and other rights granted by this Resolution to the holders of <br />the Bonds will cease, except that the pledge of the full faith and credit of the City for the prompt and full <br />payment of the principal of and interest on the Bonds will remain in full force and effect. The City may <br />discharge all Bonds which are due on any date by depositing with the Registrar on or before that date a sum <br />sufficient for the payment thereof in full. If any Bond should not be paid when due, it may nevertheless be <br />discharged by depositing with the Registrar a sum sufficient for the payment thereof in full with interest <br />accrued to the date of such deposit. <br />Passed and adopted by the City Council of the City of Centerville, Minnesota this 8th day of <br />June, 2016. <br />Attest: <br /> <br /> � <br />Michael Ericson, City Administrator <br />11 <br />CITY OF CENTERVILLE, MINNESOTA <br />Thomas Wilharber, Mayor <br />