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<br /> <br /> <br /> <br /> <br /> <br /> Additional Bonds. The Outstanding Refunding Bonds and any <br /> Additional Parity Revenue Bonds, the Prior Lien Bonds, and <br /> any Prior Lien Additional Bonds (as defined in Section 23 <br /> hereof) are and shall be secured by and payable from the <br /> Pledged Revenues, in the manner and to the extent provided <br /> in the ordinances authorizing their issuance, but they are <br /> not and will not be secured by or payable from a mortgage or <br /> deed of trust on any real, personal, or mixed properties <br /> constituting the System. <br /> Section 9. SYSTEM FUND. That there has been created <br /> and there shall be established and maintained on the books <br /> of the Issuer, and accounted for separate and apart from all <br /> other funds of the Issuer, a special fund to be entitled the <br /> "City of Paris Waterworks and Sewer System Fund" (the <br /> "System Fund"). All Gross Revenues shall be credited to the <br /> System Fund immediately upon receipt, unless otherwise <br /> provided in this Ordinance. All current expenses of opera- <br /> tion and maintenance of the System shall be paid from such <br /> Gross Revenues credited to the System Fund as a first charge <br /> against same. Before making any deposits hereinafter <br /> required to be made from the System Fund, the Issuer shall <br /> retain in the System Fund at all times an amount at least <br /> equal to one-sixth of the amount budgeted for the then <br /> current fiscal year for the current operation and mainte- <br /> nance expenses of the System. <br /> Section 10. INTEREST AND SINKING FUND. That for the <br /> sole purpose of paying the principal of and interest on all <br /> bonds which are payable from Pledged Revenues, there has <br /> been created and there shall be established and maintained <br /> on the books of the Issuer, and accounted for separate and <br /> apart from all other funds of the Issuer, a separate fund to <br /> be entitled the "City of Paris Waterworks and Sewer System <br /> Revenue Refunding Bonds Interest and Sinking Fund" (the <br /> "Interest and Sinking Fund"). <br /> Section il. PRIOR LIEN ADDITIONAL BONDS RESERVE FUND. <br /> That there has been created by the Issuer, and shall be <br /> established and maintained, at the same bank where the <br /> Reserve Fund created pursuant to Section 12 is kept, a <br /> separate fund to be entitled the "City of Paris Waterworks <br /> and Sewer System Prior Lien Additional Bonds Reserve Fund" <br /> (the "Prior Lien Reserve Fund"). The Prior Lien Reserve <br /> Fund shall be used to pay the principal of and interest on <br /> the Prior Lien Bonds or any Prior Lien Additional Bonds when <br /> and to the extent the amounts in the Interest and Sinking <br /> Fund are insufficient for such purpose, and may be used for <br /> the purpose of finally retiring the last of any Prior Lien <br /> Bonds or any Prior Lien Additional Bonds. <br /> Section 12. RESERVE FUND. That there has been created <br /> and there shall be established and maintained initially at <br /> 25 <br />