1985-078 - Laserfiche WebLink

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-26- if the amount available in such Bond Year shall not be sufficient • therefor, then in proportion to the Amortization Installment, if any, for such Bond Year for the Term Bonds of each such series then outstanding; provided, however, that if the Term Bonds of any series shall not then be subject to redemption from money in the Bond Amortization Account and if the Issuer shall at any time be unable to exhaust the money applicable to the Term Bonds of such 0 series under the provisions of this clause in the purchase of such Term Bonds under the provisions of paragraph (1) above, such money or the balance of such money, as the case may be, shall be retained in the Bond Amortization Account and, as soon as it is feasible, applied to the retirement of Term Bonds of such series; and (ii) any balance then retrA ping, other than money retained under the first clause of this paragraph, shall be applied to the retirement of such Bonds as the Issuer in its sole discretion shall determine, but only, in the case of the redemption of Bonds of any series, in such amounts and on such terms as may be provided in the resolution authorizing the issuance of the Bonds of such series. (4) The Issuer shall deposit into the Bond Amortization Account, Amortization Installments for the amor- tization of the principal of the Term Bonds, together with any deficiencies for prior required deposits, such Amortization Installments to be in such amounts and to be due in such years as shall be determined by resolution of the Board prior to the sale of the Bonds. The Issuer shall pay from the Sinking Fund all expenses in connection with any such purchase or redemption. E. OPERATION AND MAINTENANCE. The Issuer will maintain the Project and all parts thereof in good condition and will operate the same in an efficient and economical manner, making such expenditures for equipment and for renewals, repairs and replacements as may be proper for the economical operation and -26-