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registered bond is called for redemption may object thereto or object to the cessation of interest on the redemption date fixed by any claim or showing that he failed to actually receive such notice of call and redemption. (b) Redemption. Prior to the redemption date there must be set aside in the Retirement Fund moneys for the purpose and sufficient to redeem, at the premiums payable as in this resolution pro- vided, the bonds designated in such notice for redemption. Said moneys must be set aside in said fund solely for that purpose and shall be applied on or after the redemption date to the payment (principal and premium) of the bonds to be redeemed upon presentation and surrender of such bonds and (except as to bonds registered as to both principal and interest) all interest coupons maturing after the redemption date. Any interest coupon due on or prior to the redemption date shall be paid from the Interest Fund upon presentation and surrender thereof. Any interest due on or prior to the redemption date upon bonds registered as to both principal and interest shall be paid from said Interest Fund. Each bond presented (if unregistered or registered as to principal only) must have attached thereto or presented therewith all interest coupons maturing after the redemption date. (c) Effect of the Notice of Redemption. When notice of redemption has been given, and when the amount necessary for the redemption of the bonds called for redemption (principal and premium) is set aside for that purpose in the Retirement Fund, the bonds designated for redemp- tion shall become due and payable on the date fixed for redemption thereof, and upon presentation and surrender of said bonds and (except as to bonds registered as to both principal and interest) all interest coupons maturing after the redemption date, at the place specified in the notice of redemption, and, if any of said bonds be registered, upon the appropriate assignment thereof in blank, such bonds shall be redeemed and paid at said redemption price out of the Retirement Fund, and no interest will accrue on such bonds called for redemption or on any interest coupon thereof after the redemption date specified in such notice, and the holders of said bonds so called for redemption after such redemption date shall look for the payment of such bonds and the ~/premium thereon only to said Retirement Fund. All bonds redeemed and all interest coupons thereof shall be cancelled forthwith by the Direc~f Finance and shall not be reissued. All interest coupons pertaining to any redeemed bonds, which coupons have matured on or prior to the time fixed for redemption, shall continue to be payable to the respective holders thereof but without interest thereon. All unpaid interest payable at or prior to the date fixed for redemption upon bonds registered in such manner that the interest is payable only to the registered owners shall continue to be payable to the respective registered owners of such bonds, or their order, but without interest thereon. Section 10. Revenues and Funds. Under and pursuant to said Revenue Bond Law there are hereby created wherever necessary the following funds which shall be applied pursuant to this resolution and under and pursuant to said Revenue Bond Law: 1. Water Revenue Bond Acquisition and Construction Fund (herein sometimes referred to as "Construction Fund"); 2. Water Revenue Fund (herein sometimes referred to as "Revenue Fund"); 3. Water Revenue Bond Interest Fund (herein sometimes referred to as "Interest Fund"); 4. Water Revenue Bond Retirement Fund (herein sometimes referred to as "Retirement Fund"); 5. Water Revenue Bond Reserve Fund (herein sometimes referred to as "Reserve Fund"); 6