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40 <br />• <br />i <br />all of the Bonds, or the Bonds of any series or portion of a series <br />or any maturity or portion of a maturity of a series, then, and in <br />that event, the pledge of and lien on the Sales Tax and Investment <br />Income in favor of the Holders of such Bonds shall be no longer in <br />effect. For purposes of the preceding sentence, deposit of Federal <br />Securities, as herein defined, in irrevocable trust with a banking <br />institution or trust company, for the sole benefit of such Bond- <br />iaholders, in respect to which such Federal Securities, the principal <br />and interest received will be sufficient to make timely payment of <br />the principal, interest, and redemption premiums, if any, on such <br />Bonds, shall be considered "provision for payment". Nothing herein <br />shall be deemed to require the Issuer to call any of the <br />outstanding Bonds for redemption prior to maturity pursuant to any <br />applicable optional redemption provisions, '.r to impair the discre- <br />tion of the Issuer in determining whether to exercise any such <br />option for early redemption. <br />SECTION 25. REPEAL OF INCONSISTENT ORDINANCES AND RESO-- <br />LUTIONS. All ordinances or resolutions or parts thereof in con- <br />flict herewith shall, upon the date of issuance of any of the Bonds <br />authorized hereunder, stand repealed to the extent of such <br />conflict. <br />SECTION 26. EFFECTIVE DATE. This Resolution shall take <br />effect immediately upon its passage. <br />G <br />. i::; 9 4� <br />ATTEST: Vice Chairman, Board of <br />County Commissioners <br />Adopted .duly 10, 1985 <br />-41- <br />