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than December 20 of each year. <br /> In the event the City hereafter issues any Term Bonds, and <br /> provides for the payment thereof by a mandatory schedule of <br /> payments into a Sinking Fund Account in the Revenue Bond Fund, the <br /> words "principal of and interest on all outstanding Parity Bonds" <br /> in the first paragraph of this subsection C and the following <br /> paragraph of this section shall be deemed to exclude from "prin- <br /> cipal" an amount of Term Bonds equal to such mandatory payments, <br /> and from "interest" the interest on such Term Bonds so provided <br /> for subsequent to the date of the respective deposits, and to <br /> include in lieu thereof the mandatory sinking fund deposits as of <br /> the dates required. <br /> The City further covenants and agrees that when the required <br /> deposits have been made into the Reserve Account, it will at all <br /> times maintain therein an amount at least equal to the maximum <br /> amount required in any subsequent calendar year to pay the prin- <br /> cipal of and interest on all outstanding Parity Bonds. Whenever <br /> there is a sufficient amount in the Revenue Bond Fund, including <br /> all accounts therein, to pay the principal of, premium, if any, <br /> and interest on all outstanding Parity Bonds, the money in the <br /> Reserve Account may be used to pay such principal, premium and <br /> interest. Money in the Reserve Account may also be withdrawn to <br /> redeem and retire, and to pay the premium, if any, and interest <br /> due to such date of redemption, on any outstanding Parity Bonds, <br /> as long as the moneys left remaining on deposit in the Reserve <br /> Account are equal to the maximum amount required in any calendar <br /> year thereafter to pay the principal of and interest on the <br /> remaining outstanding Parity Bonds. <br /> -14- BD338 81/12/22 <br />