60-18 Bond Financing for the Community Center Project

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ARTICLE IV REVENUE AND FUNDS Section 4.1 Source of Payment of the Bonds. The Bonds herein authorized and all payments to be made by the Issuer hereunder are not general obligations of the Issuer but are limited obligations payable solely from the Pledged Revenues pledged and assigned for their payment in accordance with this Indenture and the Bond Ordinance. No covenant or agreement contained in the Bonds or this Indenture shall be deemed to be a covenant or agreement of any member, director, officer, agent, attorney or employee of the Issuer in his or her individual capacity, and no member, director, officer, agent, attorney, or employee of the Issuer executing the Bonds shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance of the Bonds. Section 4.2 Creation of Funds. There are hereby created and ordered established the following funds and accounts to be held by the Trustee: (a) the Bond Fund; (b) the Construction Fund; (c) the Expense Fund; (d) the Debt Service Reserve Fund; and (e) the Rebate Fund. Upon the written request of the Issuer, the Trustee shall establish and maintain hereunder such additional funds, accounts or subaccounts as the Issuer may specify from time to time to the extent that in the judgment of the Trustee the establishment of such funds, accounts or subaccounts are not to the material prejudice of the Trustee or the Bondholders Section 4.3 Bond Fund. (a) Moneys in the Bond Fund shall be applied as provided in this Section 4.3. There shall be deposited in the Bond Fund, at such times prescribed by Section 4.3(b) hereof, the Pledged Revenues in an amount equal to the payments due on the Bonds on the next Interest Payment Date and overdue principal and interest payments on outstanding Bonds, together with all Annual Fees coming due within the next six(6)months with respect to the Bonds. (b) The Issuer hereby covenants and agrees that so long as any of the Bonds issued hereunder are outstanding it will deposit, or cause to be paid to Trustee for deposit in the Bond Fund for its account, prior to 10:00 a.m., Eastern Time, at least three (3) business days immediately preceding each Interest Payment Date, sufficient sums from revenues and receipts derived from the Pledged Revenues, promptly to meet and pay the amounts required under Section 4.3(a) hereof. Nothing herein should be construed as requiring the Issuer to deposit or cause to be paid to Trustee for deposit in the Bond Fund, funds from any source other than receipts derived from the Pledged Revenues and amounts on deposit in the Debt Service Reserve Fund. The Trustee is hereby directed to deposit any Pledged Revenues received into the Bond Fund in the manner prescribed in this Section 4.3 and in Section 4.4 hereof. Moneys in the Bond 19