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WIN <br />which shall increase its net revenues and which shall be approved by <br />the consulting engineers, if the Issuer shall not then be in default <br />under any of the provisions of this instrument, and (3) paying <br />the principal of and interest on the Bonds in the event that the <br />ether money in the Sinking Fund shall ever be -insufficient to meet <br />such payments. <br />(D) Operation and Maintenance Fund. The Issuer covenants <br />and agrees to establish with a depository in the State of Florida, <br />which is a member of the Federal Deposit Insurance Corporation, <br />•and which is eligible under the Laws of the State of Florida <br />to receive public funds, a special fund to be known as the "Indian <br />River.County Water and Sewer System Operation and Maintenance Fund" <br />(the "Operation and Maintenance Fund"), which shall be used ex- <br />.clusively for the purpose of receiving funds to be transferred <br />monthly by the Issuer from the Revenue Fund, and for paying, as they <br />accrue, the Operating Expenses of the System pursuant to the annual <br />budget. As soon after delivery of the Bonds as the System shall be <br />revenue-producing, and after having made the deposits to the Sinking <br />Fund as provided in paragraph (C) above, the Issuer shall transfer <br />on or before the 15th day of each month from the Revenue Fund and <br />•deposi.t to the credit of the Operation and Maintenance Fund a sum <br />sufficient to pay the Operating Expenses of the Systed for the <br />current month, all in accordance with the annual budget. Any bal- <br />ance remaining in the Operation and Maintenance Fund at the end of <br />the Fiscal Year, and not required to pay costs incurred during the <br />Fiscal Year, shall be deposited promptly into the Revenue Fund. <br />(E) Excess Funds. Subject to the provisions for the <br />disposition of revenues in paragraphs (C) and (D), which are cumu- <br />lative, the Issuer shall, on or before the 15th day of each month, <br />transfer to the Reserve Account in the Sinking Fund the balance of <br />money remaining in the Revenue Fund until the funds and investments <br />in the Reserve Account equal the amount of Twenty-four Thonisand <br />Dollars. Q24,000.00), and thereafter whenever funds and investments <br />in the Reserve Account equal Twenty-four Thousand Dollar, (;21,000.00) <br />the Issuer may use the surplus fundr in the Revenue Fund for the <br />•-17- <br />JAV 2 319118 <br />KKK <br />