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Resolution. This allocation and pledge is for the exclusive benefit of the Owners of the Bonds and shall be irrevocable. . Section 33645 of the Health and Safety Code provides, in applicable part as follows: "The resolution, trust indenture, or mortgage shall provide that tax increment funds allocated to an agency pursuant to Section 33670 shall not be payable to a trustee on account of any issued bonds when sufficient funds have been placed with the trustee to redeem all outstanding bonds of the issue." This Resolution is intended to comply with the above quoted provision and shall be so construed. . Section l5. Special Fund. The Agency shall payor cause to be paid to the Fiscal Agent for deposit in the Special Fund in accordance with this Section all Pledged Tax Revenues and other moneys identified herein, and the Agency will, so far as permitted by law, authorize and direct the payment of the Pledged Tax Revenues by the respective taxing entities directly to the Fiscal Agent. The interest on the Bonds until maturity shall be paid by the Fiscal Agent from the Special Fund. At the maturity of any of the Bonds, and, after all interest then due on the Bonds then outstanding has been paid or provided for, moneys in the Special Fund shall be applied to the payment of the principal of any of such Bonds. Without limiting the generality of the foregoing and for the purpose of assuring that the payments referred to above will be made as scheduled, the Pledged Tax Revenues accumulated in the Special Fund shall be used in the following priority; provided, however, to the extent that deposits have been made in any of the Funds referred to below from the proceeds of the sale of the Bonds or otherwise, the deposits below need not be made: (a) Interest Account. Deposits shall be made into the Interest Account so that the balance in the Account on each interest payment date shall be equal to interest due on the then outstanding Bonds on such interest payment date and on the next succeeding interest payment date. Moneys in the Interest Account shall be used for the payment of interest on the Bonds as interest becomes due, including accrued interest on any Bonds purchased or redeemed prior to maturity. . (b) Principal Account. After the deposits have been made pursuant to subparagraph (a) above, deposits shall next be made into the Principal Account so that the balance in the Account on or prior to each January 1 is equal to the principal coming due on such date on the then outstanding serial Bonds or the amount of the mandatory Sinking Account ayments due on such date. All monies in 11-30-84 1282p/2281/04 -16-