Ordinance 1891-92 - Laserfiche WebLink

• References in this Ordinance to the Debt Service Account and Revenue Bond Fund shall, unless otherwise stated, include the 1992 Debt Service Subaccount . Notwithstanding anything in Section 9 .E hereof to the contrary, moneys in the 1992 Debt Service Subaccount may be used to pay the Arbitrage Earnings Amount, if any, to the extent the Arbitrage Earnings Amount is attributable to earnings on moneys in the 1992 Debt Service Subaccount . Payments from the Revenue Bond with respect to the State Bonds shall be made in accordance with the Agreement, as amended. B. Sinking Fund Accounts . The City covenants and agrees that in the event it issues any future Parity Bonds which are Term Bonds, it will provide in each ordinance authorizing the issuance of the same for the creation of a Sinking Fund Account and for regular monthly payments to be made from the Revenue Fund into such Sinking Fund Account sufficient, together with Assessment Income deposited and such other moneys as are on hand and available therefor in such account, to amortize the principal of such future Parity Bonds which are Term Bonds on or before the maturity date thereof or to purchase "Government Obligations, " as such obligations are now or hereafter defined in Chapter 39. 53 RCW, as amended, or its successor statute, if any, sufficient to accomplish such amortization. 1992 Sinking Fund Account is hereby vested in the Revenue Bond Fund to pay any 1992 Bonds which are Term Bonds . 32 FWW003.DOC 92/09/21