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<br />business of holding substantial amounts of obligations of types comprising the Bonds and to one <br />or more national information services that disseminate notices of redemption of obligations such <br />as the Bonds. <br /> <br />(iii) Each check or other transfer of funds issued for the payment of the Redemption <br />Price of Bonds being redeemed shall bear or have enclosed therewith the CUSIP number of the <br />Bonds being redeemed with the proceeds of such check or other transfer. <br /> <br />(g) The Paying Agent is also directed to comply with any mandatory standards then in effect <br />for processing redemptions of municipal securities established by the Securities and Exchange <br />Commission. Failure to comply with such standards shall not affect or invalidate the redemption of any <br />Bond. <br /> <br />ARTICLE IV <br /> <br />SECURITY FOR AND PAYMENT OF BONDS <br /> <br />Section 401. Security for the Bonds. The Bonds shall be general obligations of the City <br />payable as to both principal and interest from ad valorem taxes which may be levied without limitation as <br />to rate or amount upon all the taxable tangible property, real and personal, within the City's territorial <br />limits. The full faith, credit and resources of the City are hereby irrevocably pledged for the prompt <br />payment of the principal of and interest on the Bonds as the same become due. <br /> <br />Section 402. Levy and Collection of Annual Tax. <br /> <br />(a) For the purpose of providing for the payment of the principal or Redemption Price of and <br />interest on the Bonds as the same become due, there is hereby levied upon all of the taxable tangible <br />property within the City a direct annual tax sufficient to produce the amounts necessary for the payment <br />of such principal or Redemption Price and interest as the same becomes due and payable in each year. <br /> <br />(b) The taxes referred to above shall be extended upon the tax rolls in each of the several <br />years, respectively, and shall be levied and collected at the same time and in the same manner as the <br />City's other ad valorem taxes are levied and collected. The proceeds derived from said taxes shall be <br />deposited in the Debt Service Fund, shall be kept separate and apart from all other funds of the City and <br />shall be used solely to pay the principal or Redemption Price of and interest on the Bonds as and when the <br />same become due, taking into account scheduled mandatory redemptions, if any, and the fees and <br />expenses of the Paying Agent. <br /> <br />(c) If at any time said taxes are not collected in time to pay the principal or Redemption Price <br />of and interest on the Bonds when due, the City's Treasurer is hereby authorized and directed to pay said <br />principal or Redemption Price and interest on the Bonds out of the City's general funds and to reimburse <br />said general funds for money so expended when said taxes are collected. <br /> <br />-14- <br />