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pursuant to this Ordinance or any ordinance relating to the issuance of Parity Revenue <br />Obligations. <br />(d) To any other proper City purpose now or hereafter permitted by law. <br />Section 8.04. Interest and Sinking Fund. <br />(a) The City hereby covenants and agrees to make monthly deposits to the Interest <br />and Sinking Fund from moneys in the Revenue Fund to pay the principal of and interest on the <br />Bonds as follows: <br />(i) Such amounts, deposited in substantially equal monthly installments on or <br />before the 10th day of each month following the Closing Date, as will be sufficient, <br />together with other amounts, if any, then on hand in the Interest and Sinking Fund and <br />available for such purpose, to pay the interest scheduled to accrue and become due and <br />payable with respect to the Bonds on the next succeeding Interest Payment Date; <br />(ii) Such amounts, deposited in substantially equal monthly installments on or <br />before the 10th day of each month following the Closing Date, as will be sufficient, <br />together with other amounts, if any, on hand in the Interest and Sinking Fund and <br />available for such purpose, to pay the principal scheduled to mature and come due on the <br />Bonds on the next succeeding Interest Payment Date on which principal of the Bonds is <br />to be payable. <br />(b) The monthly deposits to the Interest and Sinking Fund for the payment of <br />principal of and interest on the Bonds shall continue to be made as hereinabove provided until <br />such time as (i) the total amount on deposit in the Interest and Sinking Fund and Reserve Fund is <br />equal to the amount required to pay all outstanding obligations (principal and/or interest) for <br />which said Fund was created and established to pay or (ii) the Bonds are no longer outstanding, <br />i.e., fully paid as to principal and interest or all of the Bonds have been refunded. <br />(c) Any proceeds of the Bonds not required to complete the improvements and <br />extensions to the System or required to be deposited otherwise by this Ordinance, shall be <br />deposited to the Interest and Sinking Fund. Proceeds of the Bonds so deposited, accrued interest <br />and any other amount or amounts received from the Purchaser of the Bonds and required by this <br />Ordinance to be deposited to the Interest and Sinking Fund, may be taken into consideration and <br />reduce the amount of the monthly deposits hereinabove provided which would otherwise be <br />required to be deposited in the Interest and Sinking Fund from the Net Revenues of the System. <br />26 <br />SANMARCOS/W W W SRev2017B: Ordinance <br />