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low <br />-16- <br />0 <br />effect after payment of the 1976 Bonds until these bonds are <br />paid or provision made therefor. In this regard, nothing herein <br />shall be construed in any manner to impair the security of the <br />1976 Bonds or the priority of the pledge and lien on revenues in <br />favor of the 1976 Bonds, but it is covenanted that when all of <br />the 1976 Bonds are paid (or the required provision made therefor) <br />these bonds shall become first lien bonds in the sense that the <br />pledge and lien on System revenues in favor of these bonds will <br />become a first and prior pledge and lien on System revenues. It <br />is covenanted and agreed that the City will not issue or attempt <br />to issue any bonds ranking or claiming to rank on a parity of <br />pledge and lien with the 1976 Bonds. <br />Section 7. There shall be transferred from the Water <br />and Sewer Fund, established under Section 9 of the 1976 Ordinance, <br />to the bond fund maintained in connection with the 1976 Bonds <br />those amounts necessary to pay maturing principal and interest <br />on the outstanding 1976 Bonds, in compliance with all applicable <br />provisions of the 1976 Ordinance. When all outstanding 1976 Bonds <br />have been paid, principal and interest, or provision made for their <br />payment, the transfers directed by this Section shall cease. <br />Section 8. There shall be transferred from the Water <br />and Sewer Fund to the Operation and Maintenance Fund, established <br />under Section 11 of the 1976 Ordinance, those amounts specified <br />by the 1976 Ordinance. <br />Section 9. 1978 Water and Sewer Revenue Bond Fund. <br />(a) There is hereby created and ordered established a <br />special fund in the name of the City designated "1978 Water and <br />Sewer Revenue Bond Fund" (the "Bond Fund") to be maintained in <br />e <br />