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Reserve Account, remaining EDIT Revenues, to the extent <br />available, to maintain the Reserve Account in the amount required, <br />if any, for any of the EDIT Bonds. At the election of the <br />Controller, no reserve may be required for the Bonds. <br />(iii) General Account. After making the required deposits to the Bond <br />Principal and Interest Account and the Reserve Account, all <br />remaining EDIT Revenues, if any, will be transferred to the <br />General Account. All moneys in the General Account will be used <br />and withdrawn for any of the purposes set forth in the Act, <br />including, without limitation, payment of additional costs of the <br />Project. <br />SECTION 8. Authorization. <br />(a) Authorization. The proper officers of the City are hereby directed to sell <br />the Bonds to the Purchaser, to draw all proper and necessary warrants, and to do <br />whatever acts and things which may be necessary to carry out the provisions of this <br />Ordinance. <br />(b) Official Statement and Disclosure Agreement. The Mayor and the <br />Controller each are hereby authorized to approve and deem final an official statement <br />with respect to the Bonds, as of its date, in accordance with the provisions of Rule 15c2- <br />12 of the U.S. Securities and Exchange Commission, as amended (the "SEC Rule "), <br />subject to completion as permitted by the SEC Rule, and the City further authorizes the <br />distribution of the deemed final official statement, and the execution, delivery and <br />distribution of such document as further modified and amended with the approval of the <br />Mayor or the Controller in the form of a final official statement. <br />SECTION 9. Defeasance. If, when the Bonds or any portion thereof shall have become <br />due and payable in accordance with their terms or shall have been duly called for redemption or <br />irrevocable instructions to call the Bonds or any portion thereof for redemption have been given, <br />and the whole amount of the principal, premium, if any, and the interest so due and payable upon <br />such bonds or any portion thereof then outstanding shall be paid, or (i) cash, or (ii) direct <br />noncallable obligations of or unconditionally guaranteed by the U.S. Department of the Treasury, <br />or (iii) any combination of the foregoing, shall be held irrevocably in trust for such purpose, and <br />provision shall also be made for paying all fees and expenses for the payment, then and in that <br />case the Bonds or such designated portion thereof shall no longer be deemed outstanding or <br />secured by this Ordinance. <br />SECTION 10. Additional Bonds. The City reserves the right to issue additional bonds <br />and to incur lease obligations (which for all purposes of this Ordinance shall be deemed to be <br />required bond payments which mature on the date such lease - rental payment obligations are due) <br />after the issuance of the Bonds, payable out of the EDIT Revenues and earnings thereon on <br />parity with the Prior Bonds and the Bonds, and such future bonds and lease obligations are <br />herein referred to as "Additional Bonds," or bonds which are junior and subordinate in right of <br />payment to the Bonds (such bonds and lease obligations are herein referred to as "Junior Bonds ") <br />G <br />