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A. REVENUE FUND. All Gross Revenues shall upon receipt <br />thereof be deposited in the "Water and Sewer Revenue Fund" (herein the <br />"Revenu3 Fund"), which is hereby created and established. <br />B. DISPOSITION OF REVENUES. All Gross Revenues on deposit in <br />the Revenue Fund shall be disposed of by the County as needed or as <br />required herein only in the following manner and in the following order of <br />priority: <br />(1) First, the County shall transfer in each <br />month to the Operation and Maintenance Fund the amount <br />required to be deposited therein to pay the Operating <br />Expenses due or to become due for such month. <br />(2) Second, the County shall deposit in each <br />month to a fund to be known as the "1989 Water and <br />Sewer Revenue Refunding Bonds Sinking Fund" (herein <br />the "Sinking Fund"), which is hereby created and <br />established, one-sixth (1/6th) of such sum as will be <br />sufficient to pay interest on the Bonds as the same <br />shall become due on the next semiannual interest <br />Payment date, together with the amount of any <br />deficiency in prior deposits for interest on Bonds, <br />and one -twelfth (1/12th) of the principal of Bonds <br />maturing or subject to mandatory call for redemption <br />on the next principal payment date with respect to the <br />Bonds. Such deposit shall take into account the sums, <br />if any, in the Bond Amortization Account, hereinafter <br />defined, attributable to such payments and the sums, <br />if any, deposited in the Sinking Fund out of proceeds <br />from the sale of Bonds to pay interest thereon. In <br />addition, there shall be deposited in the Sinking Fund <br />amounts sufficient to pay the fees and charges of the <br />Paying Agent. <br />(3) Third, the County shall deposit into an <br />account in the Sinking Fund to be known as the "Bond <br />Amortization Account" hereby created and established, <br />such sums as are required by resolution of the County <br />to be deposited therein at such times as are required <br />thereby for each series of Term Bonds for purposes of <br />the mandatory redemption thereof. <br />(4) Fourth, the County shall deposit into an <br />account in the Sinking Fund to be known as the <br />"Reserve Account", which is hereby created and <br />established, a sum at least equal to and sufficient to <br />pay the maximum amount of principal and interest on <br />all outstanding Bonds becoming due in any ensuing <br />Fiscal Year. A sum to be specified by subsequent <br />- 17 - <br />