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be at least equal to the Reserve Account Requirement for such future Parity Bonds. Such annual <br /> payments into a Reserve Account shall be made not later than December 20 of each year. <br /> Notwithstanding anything in this Section 10 to the contrary, the City may fund the <br /> Reserve Account Requirement for any Parity Bonds through a surety bond issued by a Qualified <br /> Insurer. The amount payable by the Qualified Insurer under such surety bond shall be credited <br /> against the amounts otherwise required to be accumulated and maintained in the Reserve <br /> Account for such Parity Bonds. <br /> The City further covenants and agrees that when the required deposits have been made <br /> into any Reserve Account, it will at all times maintain therein an amount at least equal to the <br /> Reserve Account Requirement, as predetermined in each calendar year with respect to the Parity <br /> Bonds secured by such Reserve Account. Whenever there is a sufficient amount in the Revenue <br /> Bond Fund, including all accounts therein, to pay the principal of, premium, if any, and interest <br /> on all outstanding Parity Bonds, the money in each Reserve Account may be used to pay the <br /> principal of, premium, if any, and interest on the Parity Bonds secured thereby. Money in a <br /> Reserve Account may also be withdrawn to redeem and retire, and to pay the premium, if any, <br /> and interest due to such date of redemption, on the outstanding Parity Bonds secured by such <br /> Reserve Account, as long as the money remaining on deposit in such Reserve Account is at least <br /> equal to the Reserve Account Requirement determined with respect to such Parity Bonds then <br /> outstanding. <br /> In the event there shall be a deficiency in the Debt Service Account to meet maturing <br /> installments of either interest on or principal of and interest on the Parity Bonds of any issue, or a <br /> deficiency in any Sinking Fund Account to meet the required schedule of payments for <br /> amortization of Term Bonds of any issue of Parity Bonds, such deficiency shall be made up from <br /> the Reserve Account for such Parity Bonds by the withdrawal of money therefrom. Any <br /> deficiency created in such Reserve Account by reason of any such withdrawal shall then be made <br /> up out of Revenue of the System or Assessments after making necessary provision for the <br /> -21- DOTOQ5 DOC 98/04/28 <br />