1981-040 CRA - Laserfiche WebLink

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. . . . . (C) Any Bonds to be purchased or redeemed by the Trustee at the option of the Agency pursuant to Section 401(C) from moneys in the Prior Redempt ion Fund sha 11 be purchased or redeemed by the Trustee on ly upon receipt by the Trustee of an Officer's Certificate determining or certifying the following: (1) the principal amount of Bonds to be purchased or redeemed; (2) the years in which Sinking Fund Installments are to be reduced and the amount by which the Sinking Fund Installments so determined are to be reduced,. provided that the aggregate of such reductions in Sink ing Fund Insta llments sh all equal the aggregate principal amount of Bonds to be purchased or redeemed; and (3) the Redemption Date. 607. Deficiencies in B.ond Funds. . (A) In the event that five (5) days prior to any Interest Payment Date the amount in the Interest Fund is insufficient to pay interest due on the Bonds on said Interest Payment Date, and the transfer to the Interest Fund of any available funds in the Asset Accumulation Fund is insufficient to pay the interest due on the Bonds on said Interest Payment Date, the Trustee shall withdraw from the Debt Service Reserve Fund and depos it in the Interest Fund the amount of such deficiency remaining. In the event that there remains a deficiency in the Interest Fund after withdrawing moneys from the Debt Service Reserve Fund, the Trustee shall transfer moneys from any other Fund .or Account pledged to the payment of interest on the Bonds, including the Sinking Fund t.o the Interest Fund in the amount of such deficiency. (B) In the event that sixty (60) days prior to the next succeeding Principal Fund Installment Date the amount in the Principal Fund or, in the event that sixty (60) days pri.or t.o the next succeeding Sinking Fund Installment Date, the amount in the Sinking Fund, after transfer to the Principal or Sinking Fund of any available funds in the Asset Accumulation Fund, is insufficient to pay the Principal Installment or Sinking Fund Installment due on the Bonds to be paid from the respective Fund on the next succeeding Principal Installment Date or Sinking Fund Installment Date, the Trustee shall forthwith withdraw from the Debt Service Reserve Fund the amount of such deficiency and transfer the same to the Principal Fund or the Sinking Fund as the case may be. 608. Application of Debt Serv ice Reserve Fund. (A) If at any time there shall not be a sufficient amount in the Interest Fund Princ ipa 1 Fund .or Sink ing Fund t.o make payment of Interest Installments, Principal Installments or Sinking Fund Installments and in the event that the amount transferred from the Asset Accul11Jlation Fund is insufficient to make up such deficiency as provided in Section 607, the 36