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• secured. The pledge of revenues is on a parity of lien, pledge and security with that securing the 2001 Bonds (defined in the Outstanding Ordinance) . The Refunding Bonds shall be payable from moneys in the Water Revenue Bond Fund, and moneys required to be deposited therein, as set forth in the Outstanding Ordinance. (b) Other than provisions patently inconsistent with the purpose of this Ordinance, the provisions of the Outstanding Ordinance are incorporated herein, as though set forth word for word; and the incorporation includes the provisions of the Basic Ordinance (that is, Ordinance No. 2001-3-1, adopted March 13, 2001) , as set forth in the Outstanding Ordinance. The provisions of the Outstanding Ordinance, including, without limitation, those set forth in Sections 5, 6 and 7, shall survive and continue for the protection and security of the Refunding Bonds, notwithstanding the discharge of the Improvement Bonds . It is the intent of the City that the Refunding Bonds shall replace the Improvement Bonds in all respects, other than the interest rates and financing terms set forth herein. Capitalized terms not otherwise defined herein have the meanings assigned in the Outstanding Ordinance. The Citizens Bank, Batesville, Arkansas, is hereby confirmed as Trustee and Paying Agent for the Refunding Bonds . Section 3. The Refunding Bonds shall be executed by the . Mayor and City Clerk, sealed with the seal of the City and delivered to the Trustee in exchange for the Improvement Bonds, which shall be canceled and destroyed. The Mayor is authorized to approve the disbursement or receipt of any amount necessary to assure that any obligation of the City for accrued but unpaid interest is not affected by the exchange of the Refunding Bonds for the Bonds . Section 4 . The Refunding Bonds shall be subject to redemption prior to maturity as set. forth in the Form of Bond, in Section 5. Section 5. The Refunding Bonds shall be in substantially the following form: • 2