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ARTICLE IV PLEDGE OF GAS TAX REVENUES; FUNDS AND ACCOUNTS SECTION 4.01 Pledge of Gas Tax Revenues, Gas Tax Fund. (a) The Series 2019 Bonds and Additional Obligations shall be secured by a first pledge of all Gas Tax Revenues. In addition, the City hereby transfers, places a charge upon, assigns and sets over to the Trustee, for the benefit of the Owners, that portion of the Gas Tax Revenues which is necessary to pay the principal of and interest on the Series 2019 Bonds in any Fiscal Year, together with all moneys on deposit in the Debt Service Fund, including the Interest Account, the Principal Account, the Sinking Account and the Reserve Account established therein, and such portion of the Gas Tax Revenues is hereby irrevocably pledged to the punctual payment of the principal of and interest on the Series 2019 Bonds. The Series 2019 Bonds and any Additional Obligations shall be equally secured by a pledge, charge and lien upon the Gas Tax Revenues, without priority for number or date. The Gas Tax Revenues shall not be used for any other purpose while any of the Series 2019 Bonds or Additional Obligations remain Outstanding, except that out of Gas Tax Revenues there may be apportioned and paid such sums for such purposes, as are expressly permitted by this Article. Said pledge shall constitute a first, direct and exclusive charge and lien on the Gas Tax Revenues for the payment of the principal of and interest on the Series 2019 Bonds in accordance with the terms thereof and on the Debt Service Fund, and the Interest Account, Principal Account and Sinking Account established therein. (b) The Gas Tax Revenues constitute a trust fund for the security and payment of the principal of and interest on the Series 2019 Bonds. The general fund of the City is not liable and the credit of the City is not pledged for the payment of the principal of and interest on the Series 2019 Bonds. The Owner of the Series 2019 Bonds shall not compel the exercise of the taxing power by the City or the forfeiture of its property. The principal of and interest on the Series 2019 Bonds are not a debt of the City, nor a legal or equitable pledge, charge, lien or encumbrance, upon any of its property, or upon any of its income, receipts, or revenues except the Gas Tax Revenues. SECTION 4.02 Receipt and Deposit of Revenues. The City has heretofore established the Gas Tax Fund, which the City agrees to continue to hold and maintain for the purposes and uses set forth herein. The City covenants and agrees that all Gas Tax Revenues, when and as received, will be received and held by the City in trust hereunder and will be deposited by the City in the Gas Tax Fund and will be accounted for through and held in trust in the Gas Tax Fund, and the City shall only have such beneficial right or interest in any of such money as in this Indenture provided. All such Gas Tax Revenues shall be transferred, disbursed, allocated and applied solely to the uses and purposes hereinafter in this Article set forth, and shall be accounted for separately and apart from all other money, funds, accounts or other resources of the City. SECTION 4.03 Establishment of Funds and Accounts and Allocation of Revenues Thereto. The Debt Service Fund, as a special fund, is hereby created. The Debt Service Fund shall be held and maintained by the Trustee. All Gas Tax Revenues shall be held in trust by the 55394.00055\32329348.3 554-35