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should not be paid when due, it may nevertheless be discharged by depositing with the Sond <br />Registrar a sum sufficient for the payment thereof in full with interest accrued to the date of such <br />deposit. The City may also at any time discharge its obligations with respect to any Sonds, <br />subject to the provisions of law now or hereafter authorizing and regulating such action, by <br />depositing irrevocably in escrow, with a suitable banking institution qualified by law as an <br />escrow agent for this purpose, cash or securities described in Minnesota Statutes, Section 475.67, <br />Subdivision 8, bearing interest payable at such times and at such rates and maturing on such <br />dates as shall be required, without regard to sale and/or reinvestment, to pay all amounts to <br />become due thereon to maturity or, if notice of redemption as herein required has been duly <br />provided for, to such earlier redemption date. <br />28. Severabilitv. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining provisions of this resolution. <br />29. Headin�s. Headings in this resolution are included for convenience of reference <br />only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />and, after a full discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: <br />and the following voted against the same: <br />Whereupon the resolution was declared duly passed and adopted. <br />2377316v1 1 i <br />