12-13-2021 FINAL Packet - Laserfiche WebLink

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20 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 Lease Rental Payments 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) There shall be deposited in the Bond Fund, as and when received, (i) the required deposits of Lease Rental Payments pursuant to Section 4.4 hereof; (ii) any amount remaining in the Construction Fund to be transferred to the Bond Fund pursuant to the Indenture; (iii) all interest and other income derived from investments of Bond Fund moneys as provided herein; and (v) all other moneys received by the Trustee under and pursuant to any of the provisions of the Financing Agreement which are required or which are accompanied by directions that such moneys are to be paid into the Bond Fund. 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, sufficient sums from revenues and receipts derived from the Lease Rental Payments promptly to meet and pay the principal of, premium, if any, and interest on the Bonds as the same become due and payable. 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 Lease Rental Payments and amounts on deposit in the Debt Service Reserve Fund.