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408 <br /> <br /> <br /> Agent/Registrar shall make payment of the principal of and interest on the Bonds and the Additional <br /> Bonds to the holders thereof with funds transferred from the Issuer. <br /> <br /> Section 20. DEFICIENCIES; EXCESS PLEDGED REVENUES. (a) If on any occasion <br /> there shall not be sufficient Pledged Revenues to make the required deposits into the Debt Service <br /> Fund and the Reserve Fund, then such deficiency shall be made up as soon as possible from the next <br /> available Pledged Revenues, or from any other sources available for such purpose. <br /> <br /> Co) Subject to making the required deposited to the credit of the Debt Service Fund and the <br /> Reserve Fund when and as required by this Resolution, or any resolution authorizing the issuance <br /> of Additional Bonds, the excess Pledged Revenues may be used by the Issuer for any lawful purpose <br /> not inconsistem with the Act. <br /> <br /> Section 21. ADDITIONAL BONDS. (a) The Issuer shall have the right and power at any <br /> time and from time to time and in one or more series or issues, to authorize, issue and deliver <br /> additional parity revenue bonds (herein called "Additional Bonds"), in accordance with law, in any <br /> amounts, for purposes of financing of projects (including the Project) under the provisions of the <br /> Act, or for the purpose of refunding of any Bonds, Additional Bonds or other obligations of the <br /> Issuer incurred in connection with the financing of projects under the provisions of the Act. Such <br /> Additional Bonds, if and when authorized, issued and delivered in accordance with this Resolution, <br /> shall be secured by and made payable equally and ratably on a parity with the Bonds, and all other <br /> outstanding Additional Bonds, fi.om a first lien on and pledge of the Pledged Revenues. <br /> <br /> (b) That the Debt Service Fund and the Reserve Fund established by this Resolution shall <br /> secure and be used to pay all Additional Bonds as well as the Bonds. However, each resolution <br /> under which Additional Bonds are issued shall provide and require that, in addition to the amounts <br /> required by the provisions of this Resolution and the provisions of any other resolution or resolutions <br /> authorizing Additional Bonds to be deposited to the credit of the Debt Service Fund, the Issuer shall <br /> deposit to the credit of the Debt Service Fund at least such amounts as are required for the payment <br /> of all principal and interest on said Additional Bonds then being issued, as the same come due; and <br /> that the aggregate amount to be aceumuiated and maintained in the Reserve Fund shall be increased <br /> (if and to the extent necessary) to the new Required Reserve Amount for all Bonds and Additional <br /> Bonds which will be outstanding after the issuance and delivery of the then proposed Additional <br /> Bonds; and that the required additional amount shall be so accumulated by the deposit in the Reserve <br /> Fund of all or any part of said required additional amount in cash immediately aider the delivery of <br /> the then proposed Additional Bonds, or, at the option of the Issuer, by the deposit of said required <br /> additional amount (or any balance of said required additional amount not deposited in cash as <br /> permitted above) in monthly installments, made on or before the 10th day of each month following <br /> the delivery of the then proposed Additional Bonds, of not less than 1/60th of said required <br /> additional amount (or 1/60th of the balance of said required additional amount not deposited in cash <br /> as permitted above). <br /> <br /> 19 <br /> <br /> <br />