Laserfiche WebLink
2 <br />~ 1 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />lo <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />~23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />II <br />(3) all moneys required to be transferred from the Project Fund t~ the 1998 Debt <br />Service Account as provided in this Agreement, and ,,I <br />(4) all other moneys received by the Trustee under this Agreement f~r deposit in the <br />1998 Debt Service Account. I <br />Moneys and investments in the 1998 Debt Service Account shall be used ~olely for: <br />(i) the payment of the principal, premium, if any, and interest <br />Certificates when due (whether at stated due dates thereof, or upon <br />prepayment); <br />(ii) subject to the limitations set forth below, for purchase of 1998 <br />open market in accordance with the written instructions of the County; ~ <br />(iii) subject to the provisions hereinafter set forth, to <br />amounts paid under the Insurance Policy. <br />On each payment date for the 1998 Certificates (that is, each date upon which accru <br />principal is due on the 1998 Certificates, whether by virtue of the stated due date th <br />or optional prepayment ar otherwise), the Trustee shall withdraw sufficient funds frc <br />Service Account to pay the principal, premium (if any) and interest then due on the <br />and make said funds so withdrawn available to itself and any other paying agf <br />Certificates; provided, however, that if, on any payment date for the 1998 Certifica~ <br />interest or premium due on the 1998 Certificates on such date has been paid from <br />by the Trustee under the Insurance Policy, then the Trustee, after payment of all arr <br />1998 Certificates on such date, shall withdraw from the 1998 Debt Service Accourn <br />to the amount so paid to the Trustee under the Insurance Policy for the purpos <br />amounts and shall pay the amount so withdrawn to the Insurer for the account <br />respect of the County's obligation to reimburse the Insurer for the amounts so pai~ <br />1998 Debt Service Account representing prepaid 1998 Financing Payments m~ <br />direction of the County, be used for the prepayment of 1998 Certificates in acco <br />terms or for the purchase of 1998 Certificates on the open market. <br />35 (B~ THE 199g INSURANCE POLICY ACCOUNT. The Trustee shall deposit al <br />36 from draws under the Insurance Policy, and not immediately disbursed, into tr <br />3~ Policy Account of the Certificate Payment Fund. Notwithstanding any other <br />38 Agreement, moneys received by the Trustee under the Insurance Policy shall nev~ <br />39 with moneys belonging to or derived from the County. Moneys in the 1998 <br />40 Account shall only be used to pay, when due, the principal of and interest on the <br />41 <br />~ <br />FINANCING AND TRUST AGREEMENT <br />by the 1998 <br />or optional <br />on the <br />the Insurer for <br />d interest and/or <br />;reof, mandatory <br />m the 1998 Debt <br />998 Certificates <br />~ts for the 1998 <br />:s, the principal, <br />noneys received <br />~unts due on the <br />an amount equal <br />; of paying such <br />~f the County in <br />. Moneys in the <br />y, at the written <br />dance with their <br />moneys received <br />1998 Insurance <br />~rovision of this <br />- be commingled <br />~nsurance Policy <br />998 Certificates. <br />PacE 32 <br />