Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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make such transfers from the Revenue Fund necessary to effectuate such Parity Obligations' parity claim on the Net Revenues cantemplated hereby. ARTICLE IV DEPOSITS; ADDITIONAL CONTRACTS AND BONDS Section 4.01. Deposits to Payment Fund. On the Installment Payment Date next preceding each Interest Payment Date, the Ciry shall deposit with the Trustee, for deposit in the Payment Fund, from amounts legally available therefor on deposit in the Revenue Fund, a sum equal to the amount of interest becoming due hereunder on the next Interest Payment Date plus the amount of principal becoming due hereunder on such Interest Payment Date. The City shall be entitled to receive as a credit against Installment Payments an amount equal to the amount of any balance contained in the Payment Fund prior to the Installment Payment Date for such Installment Payments (excluding money designated for the prepayment of Bonds). All money in the Payment Fund shall be used and withdrawn by the Trustee in accordance with the Indenture. Section 4.02. Reserve Fund. If amounts on deposit in the Reserve Fund or an account therein shall, at any time, be less than the Reserve Requirement, such deficiency shall be made up by the City from the first available Net Revenues after required payment of Instatlment Payments over a twelve (12) month period, in twelve (12) substantially equal payments. No deposit need be made in the Reserve Fund if the amount available and contained therein (valued from time to time in accordance with the Indenture) is at least equal to the Reserve Requirement. Section 4.03. Parity Obligations. (a) So long as any Bonds are Outstanding, the City shall not issue or incur any obligations payable from Net Revenues senior or superior to the Installment Payments. The City may at any time issue Parity Obligations payable from Net Revenues on a parity with the Installment Payments to provide financing for the Enterprise in such principal amount as shall be determined by the City. The City may issue or incur any such Parity Obligations subject to the following specific conditians which are hereby made conditions precedent to the issuance and delivery of such Parity Obligations: (1) No Event of Default shall have occurred and be continuing; (2) The Net Revenues, calculated in accordance with Generally Accepted Accounting Principles, either (i) as shown by the books of the City for the latest Fiscal Year, as verified by a certificate of a Finance Officer, or (ii) as shown by the books of the City for any more recent twelve (12) month period selected by the Ciry, as verified by a 10