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516/74 be conclusive as against all parties, and no bondholder whose 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 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 fully registered bonds) 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 fully registered bonds shall be paid from said Interest Fund. Each bearer bond presented must have attached thereto or presented therewith all interest coupons maturing after the redemption date. (c) Effect ot the Notice ot 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 redemption shall become due and payable on the date fixed for redemption thereof, and upon presentation and surrender of said bonds and (except as to fully registered bonds) all interest coupons maturing after the redemption date, at the place specified in the notice of redemption, 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 Director of 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. Pursuant to Resolution No. 62-92 and under and pursuant to said Revenue Bond Law there were created the following funds which are hereby expressly continued and shall be applied pursuant to this resolution and under and pursuant to said Revenue Bond Law: 1. Water Revenue Bond Acquisition and Construction Fund ("Construction Fund"); 2. Water Revenue Fund ("Revenue Fund"); 3. Water Revenue Bond Imerest Fund ("Interest Fund"); 4. Water Revenue Bond Retirement Fund ("Retirement Fund"); 5. Water Revenue Bond Reserve Fund ("Reserve Fund"); 6. Water Utility Fund ("Utility Fund"); (a) Director Disposition of Bond Proceeds. The proceeds of the sale of the bonds shall be placed by the of Finance as follows: 1. The premium and accrued interest, if any, shall be placed in the Interest Fund. 2. The balance shall be placed in the Construction Fund. 6