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9 <br /> compliance with the Rate Covenant. Credits to or from the Coverage Stabilization Account that <br /> occur within 90 days after the end of a fiscal year may be treated as occurring within such fiscal <br /> year. Earnings on the Coverage Stabilization Account shall be credited to the Revenue Fund. <br /> Section 8. Payments into Revenue Bond Fund. A special account of the City known <br /> as the "Fund 401 —Public Works-Utilities—Bond Redemption Subaccount" (the "Revenue Bond <br /> Fund") has been created in the office of the Chief Financial Officer for the sole purpose of <br /> paying and securing the payment of Parity Bonds. The City hereby irrevocably covenants and <br /> agrees to pay the Assessments into the Revenue Bond Fund. <br /> (a) Payments into Revenue Bond Fund. As long as the Bonds remain outstanding, <br /> the City hereby irrevocably obligates and binds itself to set aside and pay from the Revenue Fund <br /> into the Revenue Bond Fund on or before the date due those amounts necessary, together with <br /> Assessment Income deposited and such other money as is on hand and available therefor in the <br /> Revenue Bond Fund, to pay the interest or principal and interest next coming due on the Bonds. <br /> Notwithstanding anything in Section 8(d) hereof to the contrary, money in the Revenue <br /> Bond Fund may be used to pay any arbitrage rebate, if any, to the extent the rebate is attributable <br /> to earnings on money in the Revenue Bond Fund. <br /> (b) Payments into Reserve Account. The City hereby agrees that a special account to <br /> be known as the "Fund 401 — Public Works Utilities —restricted subaccount for bond reserves" <br /> (the "Reserve Account") shall be maintained for the purpose of securing the payment of the <br /> principal of and interest on all Covered Bonds. The City hereby covenants that the Reserve <br /> Requirement for the Bonds will be fully funded as of the date of issuance of the Bonds. <br /> The City covenants and agrees that when the required deposits have been made into the <br /> Reserve Account, it will at all times maintain therein an amount at least equal to the Reserve <br /> /f r) <br /> -3.6- P.\20287_CMW20287_680 03/25/09 <br />