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<br />Section 9. Defeasance. <br /> <br />9.01. Pl~ CovenantJI *'"" Other 3i1lht.. to Cease. When all Bonds and all interest <br />thereon, have been discharged as provided in this section, all pledges, covenants and other rights <br />granted by this resolution to the holders of the Bonds will cease, except that the pledge of the full <br />faith and credit of the City for the prompt and full payment of the principal of and interest on the <br />Bonds will remain in tU1l force and effect. The City may discharge all Bonds which are due on any <br />date by depositing with the Registrar on or before that date a sum sufficient for the payment thereof <br />in full. If any Bond should not be paid when due, it may nevertheless be discharged by depositing <br />with the Registrar a sum sufficient for the payment thereofin full with interest accrued to the date of <br />such deposit. <br /> <br />(The remainder of this page is intentionally left blank.) <br /> <br />Page 17 of22 <br /> <br />51 <br />