AgdaPkt 2013-05-20 Closed Cancelled and Special

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7.A. - Page 35 Attachment 6 (i) all Maintenance and Operation Costs of the Enterprise; (ii) the Installment Payments, and payment of all other Parity Obligations, including the 2007 Installment Payments and the 2006 Installment Payments; and (iii) the amount of any deficiency in the Reserve Fund established for the Bonds and in any reserve fund established for Parity Obligations. All Net Revenues remaining after paying all of the sums listed above, or in connection with any Parity Obligation, may be withdrawn by the Finance Officer for expenditure for any lawful purpose of the City. From time to time the City may deposit in the Rate Stabilization Fund from remaining Net Revenues or other available funds of the City such amounts as the City shall determine. Rate Stabilization Fund. The City may withdraw amounts from the Rate Stabilization Fund (i) for transfer to the Revenue Fund for inclusion in Gross Revenues for any Fiscal Year, or (ii) for any other lawful use of the City. All interest or other earnings upon deposits in the Rate Stabilization Fund shall be withdrawn therefrom and accounted for as Gross Revenues. Deposits to Payment Fund. On the third (3rd) Business Day next preceding each Interest Payment Date (each an "Installment Payment Date"), the City 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 and principal becoming due under the Installment Purchase contract on the next 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 All money in the Payment Fund will be used and withdrawn by the Trustee in accordance with the Indenture. Covenant to Maintain and Budget During the Term of the Installment Purchase Contract, the City will maintain and preserve the Enterprise in good repair and working order at all times and will operate the Enterprise in an efficient and economical manner and will pay all Maintenance and Operation Costs of the Enterprise as they become due and payable. Promptly upon the adoption of its budget for each Fiscal Year, the City will file with the Trustee a budget setting forth the estimated Maintenance and Operation Costs of the Enterprise for such Fiscal Year. Reserve Fund General. Under the Indenture, a Reserve Fund is established for the Bonds (the "Reserve Fund"), and will be held in trust by the Trustee. The Reserve Fund shall initially be funded, and will continue to be funded (unless terminated, as hereinafter described), in an amount equal to the Reserve Requirement. The Indenture defines the term "Reserve Requirement" to mean, as of any date of calculation, the lesser of (i) 10% of the original principal amount of the Bonds, (ii) an amount equal to maximum annual Debt Service payable by the Authority between the date of such -12-