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assist the underwriter(s) for the Bonds in complying with the provisions of Section (b)(5) of Securities and Exchange Commission Rule 15c2 -12. 15. Refunding of Prior Obligations. The City Representative is hereby authorized and directed to execute one or more escrow agreements (each an "Escrow Agreement ") with an escrow agent (the "Escrow Agent ") to be appointed by the City Representative, with respect to the Refunded Bonds (as defined below). The Escrow Agreement shall be in the form approved by the City Representative. The execution of an Escrow Agreement by the City Representative shall constitute conclusive evidence of such official's approval of the Escrow Agreement. The Escrow Agent is hereby authorized and directed to execute initial and final subscription forms for the purchase of noncallable, direct obligations of the United States and such other contracts and agreements necessary to provide for the refunding of the Refunded Bonds and payment of the applicable interest on the Bonds as are approved by the City Representative. The City Representative is hereby authorized and directed to determine, which maturities (or portions thereof) of the Prior Obligations are to be refunded by the proceeds of the Bonds (such refunded Prior Obligations are referred to as, the "Refunded Bonds "). The City Representative is further authorized to call the Refunded Bonds for redemption on the first date on which they may be redeemed at the option of the City. The Escrow Agreements shall provide for notice of redemption to be given to the registered owners of the Refunded Bonds in accordance with the resolution providing for the issuance of the Refunded Bonds. If any of the City's General Obligation Public Improvement Bonds, Series 2010B (Taxable - Direct Pay Build America Bonds) (the "Series 2010B Bonds ") are selected for refunding (the "Refunded Series 2010B Bonds "), the Refunded Series 2010B Bonds shall remain outstanding and shall not be considered defeased or paid until the date fixed for their redemption. Prior to such date, the interest on the Refunded Series 2010B Bonds coming due and payable shall be payable from the general fund of the City and shall not be payable from the proceeds of the Bonds. 16. Further Actions. The City Representative and such other officers and agents of the City as he or she may designate are hereby authorized and directed to take further action as they deem necessary or appropriate regarding the issuance, credit enhancement and sale of the Bonds, including, without limitation, a verification report regarding the sufficiency of any escrow fund established under an Escrow Agreement and any agreement relative to the tax status of any series of Bonds and the use of the proceeds thereof and other instruments, agreements, and documents related to the issuance and sale of any series of the Bonds, the purchase of municipal bond insurance or other credit enhancement for any series of the Bonds, if market or other conditions so warrant, forward purchase or supply arrangements relating to the investment of the proceeds of any series of the Bonds, and the application for CUSIP identification numbers. All actions taken by officers and agents of the City in connection with the issuance and sale of the Bonds are hereby ratified and confirmed. The City Representative and such officers and agents of the City as he or she may designate are hereby authorized and directed to take such further action and to execute and deliver such additional agreements, documents, and certificates as they deem necessary regarding the Bonds, and all actions taken by such officers and agents in connection with the Bonds are ratified and confirmed. The authorizations granted in this Ordinance to the City Manager and the Clerk may be carried out by any Deputy, Assistant, Interim or Acting City Manager, or any Deputy, Assistant, Interim or Acting Clerk in the absence of the primary officer. The authorizations granted in this Ordinance to the Chief Financial Officer may be carried out by any