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-17- <br />`Section 13. <br />ponds and coupons for the �a ��.e.,t c <br />redemption of which moneys or investment securities, as here- <br />after defined in this Section, shall have been deposited y,;i+n <br />the Paying Agent (whether upon or prior to the maturity <br />or the <br />redemption date of such bonds) shall be deemed to be paid crit ;rl <br />the meaning of this Ordinance; provided however, that if such <br />bonds are to be redeemed prior to the maturity thereof, notice <br />Of such redemption shall have been dulyiven. "I <br />g nvest:�.ent <br />securities" shall mean direct or fui11 guaranteed obligations <br />of the United States of America maturing on or prior to the <br />maturity or redemption date of�- <br />the .ponds and in determining the <br />sufficiency of the deposit there shall be considered the princi•-al <br />amount of such investment securities and interest to be earne-4 <br />thereon until the maturity of such investment securities. <br />The City may at any time surrender to the Trustee <br />for cancellation by it any bonds previously authenticated and <br />delivered hereunder, together with any unpaid coupons thereto <br />belonging, which the City may have acquired in any manner what- <br />soever, and such bonds and coupons, upon such surrender and <br />cancellation, shall be deemed to be paid and retired. <br />Section 14. First National Bank, Batesville, Arkansas, is <br />hereby designated as Trustee and Paying Agent. It shall only be <br />responsible for the exercise of good faith and reasonable prudence in <br />the execution of its trust. The recitals in this Ordinance and in <br />the face of the bonds are the recitals of the City and not of the <br />Trustee. The Trustee shall not be required to take any action as <br />Trustee unless it shall have been requested to do so in writing by <br />the holders of not less than ten percent (10%) in principal amount of <br />the bonds then outstanding and shall have been offered reasonable <br />security and indemnity against the costs, expenses and liabilities to <br />be incurred therein or thereby. The Trustee may resign at any time <br />by ten (10) days notice in writing to the City Clerk, and the majority <br />in principal amount of the holders of the outstanding bonds at any <br />time, with or without cause, may remove the Trustee. In the event of <br />a vacancy in the office of Trustee, either by resignation or by <br />