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<br /> <br /> <br /> <br /> <br /> <br /> (d) to pay, in addition, all outstanding indebtedness against the System, other than the <br /> Bonds, the Outstanding Bonds, and any Revenue Bonds, if any, as and when the same becomes <br /> due; and <br /> <br /> (e) to provide for the payments into any Contingency Fund as may be required under the <br /> provisions of the ordinances authorizing the issuance of the Bonds, the Outstanding Bonds, and <br /> any Revenue Bonds, with such payments to be made if and only to the extent after providing for <br /> the required monthly deposits to the Interest and Sinking Fund for the Bonds, the Outstanding <br /> Bonds, and Revenue Bonds, if any. <br /> <br /> Section 11. REVENUE FUND. That there has been created and there shall be established <br /> and maintained on the books of the Issuer, and accounted for separate and apart from all other <br /> funds of the Issuer, a special fund to be entitled the "City of Paris Waterworks and Sewer System <br /> Revenue Fund" (the "Revenue Fund"). All Gross Revenues shall be credited to the Revenue Fund <br /> immediately upon receipt, unless otherwise provided in this Ordinance. All current expenses of <br /> operation and maintenance of the System shall be paid from such Gross Revenues credited to the <br /> Revenue Fund as a first charge against same. Before making any deposits hereinafter required <br /> to be made from the Revenue Fund, the Issuer shall retain in the Revenue Fund at all times an <br /> amount at least equal to one-sixth of the amount budgeted for the then current fiscal year for the <br /> current operation and maintenance expenses of the System. <br /> <br /> Section 12. INTEREST AND SINKING FUND. That for the sole purpose of paying the <br /> principal of and interest on the Bonds, the Outstanding Bonds, and any Revenue Bonds, there has <br /> been created and there shall be established and maintained on the books of the Issuer, and <br /> accounted for separate and apart from all other funds of the Issuer, a separate fund to be entitled <br /> the "City of Paris Waterworks and Sewer System Interest and Sinking Fund" (the "Interest and <br /> Sinking Fund"). <br /> <br /> <br /> Section 13. RESERVE FUND. That there has been created and there shall be established and <br /> maintained at the Issuer's depository bank a separate fund to be entitled the "City of Paris <br /> Waterworks and Sewer System Reserve Fund" (the "Reserve Fund"). The Reserve Fund shall <br /> be used to pay the principal of and interest on the Bonds, the Outstanding Bonds, and any <br /> Revenue Bonds, when and to the extent the amounts in the Interest and Sinking Fund available <br /> for such payment are insufficient for such purpose, and may be used for the purpose of finally <br /> retiring the last of the Bonds, the Outstanding Bonds, and any Revenue Bonds. <br /> <br /> Section 14. CONTINGENCY FUND. That there has ben created and shall be established <br /> and maintained at the Issuer's depository bank a separate fund to be entitled the "City of Paris <br /> Waterworks and Sewer System Contingency Fund" (the "Contingency Fund"). The Contingency <br /> Fund shall be used to pay the cost of any repairs or extensions to the System for the payment of <br /> which no other funds are available. The Contingency Fund may also be used to pay the principal <br /> of and interest on the Bonds, the Outstanding Bonds, and any Revenue Bonds, at any time when <br /> <br /> <br /> 23 <br />