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892
CITY-OF-BATESVILLE
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n.r' <br />-17- <br />a bank selected by the City (which must be a member of the Federal <br />Deposit Insurance Corporation ) so long as any of these bonds are <br />outstanding. After making the payments required as set forth in <br />r <br />Section 7 and Section 8 above, there shall be paid into the Bond <br />Fund the sums in the amounts and at the time hereinafter stated <br />in Subsection (b) for the purpose of providing funds for the <br />payment of the principal of and interest on the bonds herein <br />authorized, with Trustee's and Paying Agent's fees. <br />(b) There shall be paid into the Bond Fund on the <br />first business day of each month until all outstanding bonds of <br />this issue with interest thereon have been paid in full or provision <br />made for such payment, a sum equal to one-fifth (1/5) of the next <br />installment of interest and one-tenth (1/10) of the next install- <br />ment of principal (plus any additional amount that may be necessary <br />together with accrued interest received at the time of the delivery <br />of the bonds to fully provide for the first interest payment on <br />the bonds, if any additional amount be required), and an amount <br />sufficient to provide for Trustee's and Paying Agent's fees, on <br />all outstanding bonds, until a debt service reserve shall have <br />been accumulated in an amount equal to the average annual principal <br />and interest requirements on these bonds. When the debt service <br />reserve has been accumulated in the required amount, the monthly <br />payments into the Bond Fund may be reduced to one-sixth (1/6) of <br />the next installment of interest and one -twelfth (1/12) of the <br />next installment of principal, respectively, and an amount sufficient <br />to provide for required fees, but if the debt service reserve <br />becomes impaired, the Payments of one-fifth (1/5) and one-tenth (1/10), <br />respectively, and an amount sufficient to provide for required fees, <br />shall be resumed until the impairment is cured. <br />(c) If the revenues of the System are insufficient to <br />make the required payment on the first business day of the following <br />
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