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betterments, improvements and repairs to or extensions and replacements of the System, or for <br /> any other lawful City purposes. <br /> Section 10. Payments into Revenue Bond Fund. A special fund of the City known as <br /> the "1985 City of Everett Water and Sewer Revenue Bond Fund" (the "Revenue Bond Fund") <br /> has been created in the office of the Treasurer for the sole purpose of paying and securing the <br /> payment of Parity Bonds. The City hereby irrevocably covenants and agrees to pay the <br /> Assessments levied in any water or sewer utility local improvement district of the City into the <br /> Revenue Bond Fund. <br /> A. Payments into Debt Service Account. A special account to be known as <br /> the "Debt Service Account" has been created in the Revenue Bond Fund for the purpose of <br /> paying the principal of, premium, if any, and interest on Parity Bonds. There is hereby created <br /> within the Debt Service Account a special subaccount to be known and designated as the "1998 <br /> City of Everett Water and Sewer Revenue Bond Debt Service Subaccount" (the "1998 Debt <br /> Service Subaccount"), which shall be drawn upon for the purpose of paying the principal, <br /> premium, if any, and interest on the Bond, and which, together with other money in the Debt <br /> Service Account, may be used to pay the principal of and interest on any Parity Bonds heretofore <br /> or hereafter issued. <br /> As long as the Bond remains outstanding, the City hereby irrevocably obligates and binds <br /> itself to set aside and pay from the Revenue Fund into the 1998 Debt Service Subaccount on or <br /> before the date due those amounts necessary, together with Assessment Income deposited and <br /> such other money as is on hand and available therefor in the 1998 Debt Service Subaccount, to <br /> pay the interest or principal and interest next coming due on the Bond. <br /> References in this Ordinance to the Debt Service Account and Revenue Bond Fund shall, <br /> unless otherwise stated, include the 1998 Debt Service Subaccount. Notwithstanding anything in <br /> Section 10E hereof to the contrary, money in the 1998 Debt Service Subaccount may be used to <br /> 19- DOTOQ5 DOC 98/04/28 <br />