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(B) Revenue Fund. The Issuer covenants and agrees that on or before the dare ofdeliveryof the Bonds to the purchaser thereof, it will establish with a depository in the State of Florida, which is a member of the Federal Deposit-. Insurance Corporation and which is eligible under the laws of the State of Florida to receive county funds, and maintain so long as any of the Bonds are outstanding, a special fund to be known as the "Indian River County water System Revenue Fund (South County Water System)." Into the Revenue Fund the Issuer shall deposit promptly as received all Gross Revenues. The Revenue Fund shall be held by the Issuer separate and apart from all other funds and shall be expended and used only in the manner and order specified in this subsection (B) and in subsections (C); -(D) and (G) of this section. (C) Bond and Interest Sinking Fund. The Issuer cove- nants and agrees to establish with ai depository in the State of Florida, which is a member of the Federal Deposit_ Insurance Corporation, and which is eligible under the laws of the State of Florida to receive county funds, a special fund or funds, collec- tively called the "Indian River County water System Bond and Interest Sinking Fund (South County water System)," to be used exclusively for the purposes hereinafter mentioned. After deli- very of the Bonds to the purchaser thereof, the Issuer shall transfer on or before the 15th day of each month from the Revenue Fund and deposit to the credit of: the Sinking Fund the following amounts: (1) A sum equal to 1/12 of the amount of one year's interest on all the Bonds then outstanding, together with the amount of any deficiency in prior deposits for interest; and (2) Beginning on September 15, 1982, a sum equal to 1/12 of the principal of the Bonds maturing on the next_ suc- ceeding anniversary date, together with the amount of any defi- ciency in prior deposits for principal. (3) After fulfillment of the requirements of paragraphs (c)(1) and (2), the Issuer shall transfer on or before the 15th day of each month from the Revenue Fund and deposit to the credit of a Reserve Account in the Sinking Fund the sum of $2,880 until such time as the funds and investments therein shall equal $345,500 and monthly thereafter such amount as may be necessary to maintain in the Reserve Account the sum of $345,500 but not exceeding $2,880 monthly. Moneys in tile Reserve Account shall be used only for (1) paying the cost of repairing or replacing any damage to the System which shall be caused by an unforeseen catastrophe, (2) constructing improvements or extentions to the System which shall increase its Net Revenues and which shall be approved by the consulting engineers, if the Issuer shall not -22-