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Section 8.07. Deficiencies in Funds. <br />If in any month the City shall, for any reason, fail to pay into the Interest and Sinking <br />Fund and Reserve Fund the full amounts required, amounts equivalent to such deficiencies shall <br />be set apart and paid into said Funds from the first available and unallocated revenues of the <br />System for the following month or months and such payments shall be in addition to the amounts <br />hereinabove provided to be otherwise paid into said Funds during such month or months. <br />Section 8.08. Excess Revenues. <br />Any revenues in excess of those required to establish and maintain the Funds as above <br />required may be used to purchase and retire Parity Revenue Obligations in the open market at not <br />exceeding the market value thereof, the redemption of such obligations, or for any lawful <br />purpose now or hereafter provided by law. <br />Section 8.09. Security of Funds. <br />All moneys on deposit in the funds referred to in this Ordinance shall be secured in the <br />manner and to the fullest extent required by the laws of the State of Texas for the security of <br />public funds, and moneys on deposit in such funds shall be used only for the purposes permitted <br />by this Ordinance. <br />Section 8.10. Investments. <br />(a) Money in the Funds established by this Ordinance, shall be held at a designated <br />State depository institution and invested in accordance with the Public Funds Investment Act, <br />Government Code, Chapter 2256 and collateralized in accordance with the Public Funds <br />Collateral Act, Government Code, Chapter 2257. <br />(b) Any securities or obligations in which money is so invested shall be kept and held <br />in trust for the benefit of the Owners and shall be sold and the proceeds of sale shall be timely <br />applied to the making of all payments required to be made from the fund from which the <br />investment was made. <br />Section 8.11. Investment Income. <br />Interest and income derived from investment of any fund created by this Ordinance shall <br />be credited to such fund. <br />29 <br />SANMARCOS/W W W SRev20 ] 7B: Ordinance <br />