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• <br />• <br />• <br />Section 10. Defeasance. <br />10.01. When all Bonds and all interest thereon, have been discharged as provided in this <br />section, all pledges, covenants and other rights granted by this resolution to the holders of the Bonds <br />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 <br />may discharge all Bonds which are due on any date by depositing with the Registrar on or before <br />that date a sum sufficient for the payment thereof in full. If any Bond should not be paid when due, <br />it may nevertheless be discharged by depositing with the Registrar a sum sufficient for the payment <br />thereof in full with interest accrued to the date of such deposit. <br />299374v2 SJB LN140 -97 <br />(The remainder of this page is intentionally left blank.) <br />17 <br />