Laserfiche WebLink
Page 16 <br />(b) That there shall be paid by the Treasurer from the <br />Waterworks Revenue Fund into the Second Lien Revenue Bond Fund, <br />beginning on the first business day of the month following delivery <br />of the bonds, and continuing on the first business day of each <br />month thereafter until all outstanding bonds of this issue, with <br />interest thereon, have been paid in full, or provision made for <br />such payment, a sum equal to not less than one-fifth (1/5) of the <br />next installment of interest and an amount sufficient to provide <br />for the Paying Agent's fees on all outstanding bonds. There shall <br />be paid by the Treasurer from the Waterworks Revenue Fund into the <br />Second Lien Revenue Bond Fund, beginning on the first business day <br />of the month of April, 1993, and continuing on the first business <br />day of each month thereafter until all outstanding bonds of this <br />issue, with interest thereon, have been paid in full, or provision <br />made for such payment, a sum equal to not less than one-tenth (1/10) <br />of the next installment of principal and an amount sufficient to <br />provide for the Paying Agent's fees on all outstanding bonds. It <br />is provided, however, that when there shall have been accumulated <br />in the Second Lien Revenue Bond Fund a debt service reserve in the <br />amount of $62,400, and so long as said debt service reserve is main- <br />tained in that amount, the monthly payments into the Second Lien <br />Revenue Bond Fund may be reduced to one-sixth (1/6) of the next <br />installment of interest and one -twelfth (1/12) of the next install- <br />ment of principal, together with an amount sufficient to provide <br />for the Paying Agent's fees on all outstanding bonds. <br />(c) That the amount required to be paid from the Waterworks <br />Revenue Fund into the Second Lien Revenue Bond Fund shall be paid <br />