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insurance policy issued by a reputable and recognized Municipal <br />4! Bond Insurer with the highest rating from A.M. Best & Company, or <br />a reserve account letter of credit from a bank or trust company <br />• <br />4 whose letter of credit results in the rating of municipal obliga- <br />tions in one of the three (3) highest categories of either <br />Moody's Investors Service or Standard and Poors, Inc., in an <br />amount equal to the difference between the Maximum Debt Service <br />Requirement and the sums then on deposit in the Reserve Account, <br />if any, which Reserve Account- insurance policy shall be payable <br />or available to be drawn upon, as the case may be (upon the <br />giving of notice as required thereunder), on any Bond interest <br />payment date on which a deficiency exists which cannot be cured by <br />money in any other fund or account held pursuant to this Resolution <br />and available for such purpose. If a disbursement is made under <br />the Reserve Account insurance policy, the Issuer shall be obligated <br />to either reinstate the maximum limits of such Reserve Account <br />insurance policy immediately following such disbursement, to the <br />Maximum Debt Service Requirement, or to deposit into the Reserve <br />Account from the Revenues, as herein provided, funds in the <br />amount of the disbursement made under such Reserve Account <br />insurance policy, or a combination of such alternatives as shall <br />equal the Maximum Debt Service Requirement. <br />Moneys in the Reserve Account shall be used only for the <br />purpose of the payment of maturing Amortization Installments or <br />principal of or interest on the Bonds when the other moneys allo- <br />cated to the Sinking Fund and Bond Amortization Fund are insuf- <br />ficient therefor, and for no other purpose. However, upon the <br />valuation of the Reserve Account in each year, if the moneys <br />applied and allocated to the Reserve Account (except investment <br />income to be deposited into the Revenue Fund as hereinafter <br />provided) exceed the Maximum Debt Service Requirement on all then <br />outstanding Bonds, such excess may be withdrawn and released to the <br />Issuer. <br />The Issuer may, at its option, upon the issuance of <br />-29- <br />