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<br /> ~ 1]011 kt <br /> ARTICLE IX <br /> FUNDS AND ACCOUNTS; APPLICATION OF MONEY <br /> Section 9.01 Revenue Fund. <br /> The City hereby confirms the creation of, and there shall be <br /> maintained on the books of the City, and accounted for 'separate and <br /> apart from all other funds of the City while any Parity Bonds remain <br /> outstanding, in accordance with the ordinance authorizing the <br /> Previously Issued Parity Bonds, the special fund entitled the "City <br /> of San Marcos, Texas, Electric Utility System Revenue Fund". All <br /> Gross Revenues shall be credited to the Revenue Fund immediately <br /> upon receipt. All current expenses of operation and maintenance of <br /> the System shall be paid from such Gross Revenues as a first charge <br /> against same. <br /> Section 9.02. Interest and SinkinG Fund. <br /> For the sole purpose of paying the principal of and interest <br /> on all Parity Bonds, as the same come due, there is hereby confirmed <br /> and shall continue to be maintained on the books of the Ci ty, in <br /> accordance with the terms of the ordinance authorizing the <br /> Previously Issued Parity Bonds and this Ordinance, the separate fund <br /> established by the ordinance authorizing the Previously Issued <br /> Parity Bonds entitled the "City of San Marcos, Texas, Electric <br /> Utility System Revenue Bonds Interest and Sinking Fund". Monies in <br /> said Fund shal1 be maintained at an official depository bank of the <br /> City. <br /> Section 9.03. Reserve Fund. <br /> There is hereby confirmed and shall continue to be maintained <br /> on the books of the City the separate fund established by the <br /> ordinance authorizing the Previously Issued Parity Bonds entitled <br /> the "City of San Marcos, Texas, Eiectric Utility System Revenue <br /> Bonds Reserve Fund". Monies in said Fund shall be used solely for <br /> the purpose of retiring the last of any Parity Bonds as they become <br /> due or paying principal of and interest on any Parity Bonds when and <br /> to the extent the amounts in the Interest and Sinking Fund are <br /> insufficient for such purpose. Monies in said Fund shall be <br /> initially deposited with and shall be maintained at an official <br /> depository bank of the City. <br /> Section 9.04. Deposits of PledGed Revenues. <br /> <br /> The Pledged Revenues shall be deposited in the Interest and <br /> Sinking Fund and the Reserve Fund when and as required by this <br /> Ordinance. <br /> 4588f <br /> -30- <br />