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(5) Where applicable, the amount available for draws or claims under a Reserve Account Credit Instrument may be reduced by the amount of cash or permitted investments deposited in the Reserve Account pursuant to either clause (i) of the preceding subparagraph (4). (6) Cash on deposit in the Reserve Account shall be used (or investments purchased with such cash shall be liquidated and the proceeds applied as required) prior to any drawing on any Reserve Account Credit Instrument. If and to the extent that more than one Reserve Account Credit Instrument is deposited in the Reserve Account, drawings thereunder and repayments of costs associated therewith shall be made on a pro rata basis, calculated by reference to the maximum amounts available thereunder. T. VARIABLE RATE OBLIGATIONS. If the County at any time shall issue Additional Parity Bonds, the interest rate on which is not established at the time of issuance at a single numerical rate with respect to each maturity thereof ("Variable Rate Bonds"), then such Variable Rate Bonds shall, for purposes of this Resolution, save for the provisions with respect to payment of interest thereon to the holders and registered owners thereof, be assumed to bear interest at a fixed rate equal to the higher of (a) 1108 of the current interest rate on the Variable Rate Bonds; or (b) the Bond Buyer 20 General Obligation Bond Index for the last week of the month preceding the date of sale of the Variable Rate Bonds. SECTION 17. SERIES 1993 FUNDS AND ACCOUNT. There is hereby created and established the "Series 1993 Sinking Fund" within the Sinking Fund, the "Series 1993 Bond Amortization Fund" within the Bond Amortization Fund and the "Series 1993 Reserve Account" within the Reserve Account. The Series 1993 Sinking Fund, the Series 1993 Bond Amortization Fund and the Series 1993 Reserve Account shall not in any manner whatsoever affect the parity of the Bonds and are established solely for the accounting convenience of the County. Revenues and other amounts deposited in the Sinking Fund allocable to the Series 1993 Bonds shall be held in the Series 1993 Sinking Fund. Revenues and other amounts deposited in the Bond Amortization Fund allocable to the Series 1993 Bonds shall be held in the Series 1993 Bond Amortization Fund. Revenues and other amounts deposited in the Reserve Account allocable to the Series 1993 Bonds shall be held in the Series 1993 Reserve Account. SECTION 18. APPLICATION OF SERIES 1993 BOND PROCEEDS. All moneys received from the sale of the Series 1993 Bonds shall be deposited and applied by the County as follows: A. All accrued interest shall be deposited into the Series 1993 Sinking Fund and applied exclusively for the payment of interest first becoming due on the Series 1993 Bonds. B. A sum, if any, specified by subsequent resolution of the Board shall be deposited into the Series 1993 Reserve Account in the Sinking Fund. C. An amount to be specified by subsequent resolution of the Board shall be applied in connection with the retirement of Retired Bonds as specified by subsequent resolution of the Board. 25