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to comply with the applicable provisions of Chapter 9, Business & Commerce Code and enable a <br />filing of a security interest in said pledge to occur. <br />Section 8. REVENUE FUND. There shall be created and established on the books of the <br />Issuer, and accounted for separate and apart from all other funds of the Issuer, a special trust fund <br />entitled the "Paris Economic Development Corporation Sales Tax Revenue Fund" (hereinafter called <br />the "Revenue Fund"). All Pledged Revenues shall be credited to the Revenue Fund immediately <br />upon receipt. All Pledged Revenues deposited into the Revenue Fund shall be transferred monthly <br />to the following funds in the following order of priority: <br />FIRST: To the payment of the amounts required to be deposited in the Debt Service <br />Fund for the payment of Debt Service on the Parity Obligations as the same becomes due and <br />payable; <br />SECOND: On a pro rata basis, to each debt service reserve fund created by any <br />resolution authorizing the issuance of Parity Obligations, which contains less than the <br />amount to be accumulated and/or maintained therein, as provided in such resolutions; <br />THIRD: To the payment of amounts required to be deposited in any other fund or <br />account required by any resolution authorizing the issuance of Parity Obligations; and <br />FOURTH: To any fund or account held at any place or places, or to any payee, <br />required by any other resolution of the Board which authorized the issuance of obligations <br />or the creation of debt of the Issuer having a lien on the Pledged Revenues subordinate to the <br />lien created herein on behalf of the Parity Obligations. <br />Any Pledged Revenues remaining in the Revenue Fund each month after satisfying the <br />foregoing payments, or making adequate and sufficient provision for the payment thereof, may be <br />appropriated and used for any other lawful purpose now or hereafter permitted by law. <br />Section 9. DEBT SERVICE FLIND. For the sole purpose of paying the principal of and <br />interest on the Parity Obligations Outstanding at any time, as the same come due (including principal <br />coming due as a result of any mandatory redemption of the Parity Obligations), there shall be created <br />and established on the books of the Issuer a separate trust fund entitled the "Paris Economic <br />Development Corporation Economic Development Sales Tax Revenue Refunding Bonds Debt <br />Service Fund" (hereinafter called the "Debt Service Fund"). The Issuer covenants that there shall <br />be deposited into the Debt Service Fund prior to each principal and interest payment date from the <br />Pledged Revenues an amount equal to one hundred per cent (100%) of the interest on and the <br />principal of the Bonds then falling due and payable, and such deposits to pay principal and accrued <br />interest on the Bonds shall be made in substantially equal monthly installments on or before the 25th <br />day of each month, beginning on or before the 25th day of the month next following the delivery of <br />the Bonds to the initial purchasers thereof; provided, however, that in any Fiscal Year the Issuer may <br />elect to fund the Debt Service Fund on an accelerated basis and at any time when amounts on <br />deposit in the Debt Service Fund are sufficient to make payment of all principal and interest coming <br />due on the Outstanding Parity Obligations within the next twelve months, such deposits of Pledged <br />16 <br />