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1980-075 CRA
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1980-075 CRA
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Last modified
1/3/2012 12:23:08 PM
Creation date
3/8/2005 11:38:49 AM
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City Clerk
Doc Type
Resolution
Doc #
CRA 1980-75
Date
7/1/1980
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<br />. <br /> <br />. <br /> <br />. <br />. <br /> <br />. <br />. <br /> <br />ARTICLE VI <br />APPLICATIONS OF REVENUES AND OTHER MONEYS <br /> <br />601. <br /> <br />Revenue Fund. <br /> <br />(A) Unless otherwise herein provided to the contrary, the Agency <br />shall cause all Revenues (except for that portion paid as accrued interest on <br />the purchase of Mortgage Loans, which shall be credited to the Mortgage Loan <br />Purchase Account), when received, to be deposited promptly on or before the <br />twentieth (20th) day of each IOOnth with the Trustee to the credit of the <br />Revenue Fund. <br /> <br />(B) Upon receipt of Revenues and on or before the first day of <br />each month the Trustee shall payor deposit the Revenues received during such <br />IOOnth into the Funds and Accounts as hereinafter set forth in this Article. <br /> <br />602. <br /> <br />Interest Account. <br /> <br />(A) Corrrnencing July 1, 1981, the Trustee shall IOOnthly deposit the <br />Interest Requirement into the Interest Account from the amount of moneys in <br />the Revenue Fund. Prior to July 1,1981, being the first Interest Payment <br />Date, the Trustee shall transfer Revenues, when available and to the extent <br />necessary, from the Revenue Fund to the Interest Fund to pay the interest <br />payable on the first Interest Payment Date. <br /> <br />(B) On each Interest Payment Date the Trustee shall pay from <br />moneys depos i ted into the Interest Account any amounts requ ired by it and the <br />Paying Agents for the payment of the Interest Installment due on such Interest <br />Payment Date, and, on any Redemption Date the amounts required for the payment <br />of accrued interest on Bonds then to be redeemed, unless the payment of such <br />accrued interest shall be otherwise provided for, and such moneys shall be <br />applied by the Trustee and the Paying Agents to such payments. <br /> <br />603. <br /> <br />Principal Account. <br /> <br />(A) The Principal Requirement shall then be deposited monthly by <br />the Trustee into the Principal Account. <br /> <br />(8) On each Principal Installment Date the Trustee shall pay from <br />moneys deposited into the Principal Account such sums as it and the Paying <br />Agents may need to pay the alOOunts required for the payment of principal due <br />on such Principal Installment Date and such amounts shall be appl ied by the <br />Trustee and Paying Agents to such payments. <br /> <br />(C) As soon as practicable after the sixtieth (60th) day but not <br />less than the thirtieth (30th) day preceding the Redemption Date applicable to <br />any Sinking Fund Installment, the Trustee shall proceed to call for redemption <br />pursuant to Article IV hereof on the Redemption Date, Bonds of the maturity or <br /> <br />32 <br />
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