Ord 1994-059 - Laserfiche WebLink

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trAP (i) first, all accrued interest on the Bonds from the Original Issue Date until the Closing Date and premium, if any, shall be deposited to the credit of the Interest and Sinking Fund; (ii) second, the remaining balance shall be deposited to the credit of a construction fund or funds. Section 8.03. Revenue Fund. All revenues of every nature received through the operation of the System shall be deposited from day to day as collected into the Revenue Fund, to be kept separate and apart from all other City funds and accounts. Moneys deposited in the Revenue Fund shall be pledged and appropriated to the following uses and in the order of precedence shown: (a) To the payment of all reasonable and proper expenses of operating and maintaining the System as set forth in the definition of "Net Revenues" contained in Section l. 0 I hereof. . . (b) To the payment of all amounts prescribed for the outstanding Priority Obligations in accordance with the terms and provisions of the ordinances authorizing the issuance thereof. (c) To the payment of all amounts required to be deposited in the Second Revenue Fund in accordance with the terms of the ordinance authorizing the issuance of the Series 1984-A Certificates. (d) To the payment, without priority, of all amounts required to b~ deposited in the Series 1984-A Interest and Sinking Fund and in the Interest and Sinking Fund herein established for the payment of the Parity Revenue Obligations. (e) To the payment of all amounts required to be deposited in the Reserve Fund pursuant to this Ordinance or any ordinance relating to the issuance of Parity Revenue Obligations. (t) To any other proper City purpose now or hereafter permitted by law, Section 8.04. Interest and Sinking Fund. (a) The City hereby covenants and agrees to make monthly deposits to the Interest and Sinking Fund from moneys in the Second Revenue Fund while the Series 1984-A Certificates remain outstanding and, thereafter, from moneys in the System Fund to pay the principal of and interest on the Bonds as follows: (i) Such amounts, deposited in substantially equal monthly installmentS on or before the 10th day of each month following the Closing Date, as will be sufficient, together with other amounts, if any, then on hand in the Interest and Sinking Fund and available for such purpose, to pay the interest scheduled to accrue and become due and payable with respect to the Bonds on the next succeeding Interest Payment Date; (ii) Such amounts, deposited in substantially equal monthly installments on or before the 10th day of each month following the Closing Date, as \ViII be sufficient, together with other amounts, if any, on hand in the Interest and Sinking Fund and available for such purpose, to pay SA:-r~(AR '.VWSS94'DOCS.ORDNCE:O'17.43:HBBF 24