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• from moneys deposited in the Escrow Deposit Fund created and established under any Escrow <br />Deposit Agreement. Such United States Time Deposit Securities - State and Local Government <br />Series, if any, so purchased shall be held by the Escrow Agent under and in accordance with <br />the provisions of the related Escrow Deposit Agreement. The City Manager and Director of <br />Finance, or either of them, are hereby authorized to enter into such purchase agreements, <br />including forward supply agreements, if any, as shall be required in connection with the <br />purchase by the Escrow Agent, from moneys deposited in the Escrow Deposit Fund created and <br />established under any Escrow Deposit Agreement, of Government Securities (as defined in the <br />Escrow Deposit Agreement) other than United States Time Deposit Securities - State and Local <br />Government Series. <br />13. Subject to the issuance, sale and delivery of the Series 1998B Bonds <br />pursuant to this ordinance and receipt of the proceeds of the Series 1998B Bonds, the City <br />Manager is hereby authorized to designate the Refunded Bonds for redemption on such date or <br />dates as shall be determined by the City Manager and is hereby further authorized to direct the <br />Escrow Agent to cause notices of the redemption of the Refunded Bonds on such date or dates <br />to be given in accordance with the provisions of the proceedings authorizing the issuance of the <br />Refunded Bonds. <br />14. The City Attorney of the City is directed to file a copy of this ordinance, <br />certified by the Clerk of Council of the City to be a true and correct copy hereof, with the <br />Circuit Court of the City in accordance with Section 15.2-2607 of the Code of Virginia, 1950. <br />• 15. All ordinances and proceedings in conflict herewith are, to the extent of <br />such conflict, repealed. <br />16. This ordinance shall take effect upon its adoption. <br />Introduced: March 2, 1998 <br />Adopted: March 16, 1998 <br />Certified: <br />Clerk of Council <br />Date of Filing with the Circuit Court <br />of the City of Charlottesville, Virginia: <br />March , 1998 <br />• <br />199960.1 019496 ORD <br />