RES 67055 - Laserfiche WebLink

27 for the Series A Bonds through the month of October, 1967, such monthly payments shall be sufficient on a monthly pro rata basis to pay the aggregate half-yearly amount of the interest becoming due and payable on the Series A Bonds on'Novem- ber 1, 1967. No deposit need be made into the Interest Account if the amount contained therein is at least equal to the interest to become due on the next interest payment date upon all of the Bonds issued hereunder and then outstanding. All moneys in the Interest Account shall be used and withdrawn by the Fiscal Agent solely for the purpose of paying the interest on the Bonds as it shall become due and pay~.ble (including accrued interest on any Bonds purchased or redeemed prior to maturity pursuant to this Resolution). (2) PrincipaJ and Sinking Fund Account. On or before the fifth day of each month, the Fiscal Agent shall deposit in the Principal and Sinking Fund Account an amount of Revenues equal to at least (a) one-twelfth of the aggregate yearly amount of principal becoming due and payable on the outstanding Serial Bonds of all series on the next succeeding May 1 until deposits have been made on or before the date preceding each current maturity date of the Serial Bonds in au amount sufficient to pay the principal amount of all Serial Bonds issued hereunder and maturing by their terms on such current maturity date, plus (b) an amount equal to at least one-twelfth of the aggregate of the annual amounts (herein referred to as Annual Sinking Fund Account Payments) required by the provisions of this Reso- lution or of any Supplemental Resolution to be paid during the twelve-month period ending on the next succeeding May 1 into the respective Sinking Fund Accounts for the Term Bonds of all series for which Sinking Fund Accounts shall have been created, all of which said Annual Sinking Fund Account Payments shall be made without priority of any payment into any one such Sinking Fund Account over any other such payment. In the event that the Revenues shall not be sufficient to pay in full all Annual Sinking Fund Account Payments required to be paid at any one time into all such Sinking Fund Accounts, then payments into all such Sinking Fund Accounts shall be made pro rata in such proportion that the respective Annual Sinking Fund Account Payments required to be made into each Sinking Fund Account during the then current fiscal year bear to the aggregate of all of the Annual Sinking Fund Account Payments required to be made into all stml~Sinking Fund Accounts during such fiscal year. The first of such deposits into the Principal and Sinking Fund Account shall be made not later than the month of May, 1968. No payment need be made into the Principal and Sinking Fund Account so long as there shall be in such Account (i) moneys sufficient to pay the principal of all Serial Bonds issued hereunder and then outstanding and maturing by their terms on the next succeeding May 1 plus (ii) the aggregate of all Annual Sinking Fund Account Payments required to be made in said twelve-month period. All moneys in the Principal and Sinking Fund Account shall be used and withdrawn by the Fiscal Agent solely for the purpose of paying the principal of the