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Debt Service Account, may be used to pay the principal of and interest on any Parity Bonds <br /> heretofore or hereafter issued. <br /> As long as any 1993 Bonds remain outstanding, the City hereby irrevocably obligates and <br /> binds itself to set aside and pay from the Revenue Fund into the 1993 Debt Service Subaccount <br /> those amounts necessary, together with Assessment Income deposited and such other moneys as <br /> are on hand and available therefor in the 1993 Debt Service Subaccount, to pay the interest or <br /> principal and interest next coming due on the outstanding 1993 Bonds. Such payments from the <br /> Revenue Fund with respect to the 1993 Bonds shall be made on or before the twentieth (20th) <br /> day of each month as follows: <br /> (1) Beginning with the month of December 1993, and continuing <br /> through June 1994, an amount which, with Assessment Income deposited and other <br /> moneys available therefor in the 1993 Debt Service Subaccount, will be equal to at least <br /> one-seventh (1/7th) of the principal and interest on the 1993 Bonds to become due and <br /> payable on July 1, 1993; <br /> (2) Beginning with the month of July 1993, and continuing for as long <br /> as any of such Bonds are outstanding and unpaid, an amount which, with Assessment <br /> Income deposited and other moneys available therefor in the 1993 Debt Service <br /> Subaccount, will be equal to at least one-sixth (1/6th) of the interest to become due and <br /> payable on the next interest payment date on all of such Bonds then outstanding; <br /> (3) Beginning with the month of July 1993, and continuing for as long <br /> as any of such Bonds are outstanding and unpaid, an amount which, with Assessment <br /> Income deposited and other moneys available therefor in the 1993 Debt Service <br /> Subaccount, will be equal to at least one-twelfth(1/12th) of the principal of such Bonds to <br /> become due and payable on the next principal payment date. <br /> References in this Ordinance to the Debt Service Account and Revenue Bond Fund shall, <br /> unless otherwise stated, include the 1993 Debt Service Subaccount. Notwithstanding anything in <br /> -19- Fwwae.Doc 93/10/26 <br />