12-13-2021 FINAL Packet - Laserfiche WebLink

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23 in the Expense Fund to pay Costs of Issuance for the Series 2022 Bonds or to reimburse the Issuer for amounts previously advanced for such costs as set forth in Exhibit C hereto (without further approval of the Issuer). Any amounts remaining in the Expense Fund one-hundred twenty (120) days after the issuance of the Series 2022 Bonds will be transferred to the Bond Fund to be used to pay debt service on the Series 2022 Bonds, at which time the Expense Fund shall be closed without further direction. Section 4.7 Debt Service Reserve Fund. (a) The Trustee will deposit in the Debt Service Reserve Fund all moneys required to be deposited therein pursuant to Article III or Article IV hereof, together with such other moneys as directed by the Issuer, to cause the balance of the Debt Service Reserve Fund to be equal to the Debt Service Reserve Requirement, shall invest such funds pursuant to this Indenture and shall disburse the funds held in the Debt Service Reserve Fund to the Bond Fund on the date which is two (2) business days prior to the next preceding each Interest Payment Date, if the moneys in the Bond Fund are not sufficient to make the payments of principal and interest required to be made on the Bonds on such date after taking into account available funds on deposit in the Bond Fund after making all transfers required to be made under this Indenture. (b) The Trustee shall transfer the funds held in the Debt Service Reserve Fund to the Bond Fund for the timely payment of the principal of and interest on the Bonds, but only in the event that moneys in the Bond Fund are insufficient to pay such amount of principal and interest due on the Bonds after making all transfers required to be made under this Indenture. (c) If the balance of the Debt Service Reserve Fund exceeds the Debt Service Reserve Requirement on February 1, of each year, the Trustee shall move the cash or Qualified Investments in excess of the Debt Service Reserve Requirement from the Debt Service Reserve Fund to the Construction Fund prior to the filing of the Affidavit of Project Completion and thereafter to the Bond Fund. (d) The Issuer may cause to be deposited into the Debt Service Reserve Fund, for the benefit of the holders of the Bonds, a Debt Service Reserve Fund Credit Facility. If such deposit causes the Debt Service Reserve Fund combined balance to be equal to the Reserve Requirement, moneys in the Debt Service Reserve Fund which cause their combined balance to be in excess of the Debt Service Reserve Requirement shall be moved to the Construction Fund or the Bond Fund, as directed by the Issuer. If a disbursement is made pursuant to a Debt Service Reserve Fund Credit Facility, the Issuer shall be obligated (but solely from amounts available under the Indenture, including the Lease Rental Payments), within twelve months from the date on which such disbursement was made, to cure such deficiency, by either (i) reinstating the maximum limits of such Debt Service Reserve Fund Credit Facility or (ii) depositing cash into the Debt Service Reserve Fund, or a combination of such alternatives, so that the balance of the Debt Service Reserve Fund equals the Debt Service Reserve Requirement. The Trustee shall include in the total amount held in the Debt Service Reserve Fund an amount equal to the maximum principal amount which could be drawn by the Trustee under any such Debt Service Reserve Fund Credit Facility on deposit with the Trustee. Amounts required to be deposited in the Debt Service Reserve Fund shall include any amount required to satisfy a Debt Service Reserve Fund Reimbursement Obligation for any Debt Service Reserve Fund Credit Facility. The Trustee is authorized to transfer the amounts to satisfy the Debt Service Reserve Fund Reimbursement Obligations to the provider