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r 3inaaoe <br />the following order, to wit; <br />First. Payment of the cost of collection of meter receipts, all costs in- <br />curred in maintenance or replacement of meters used in the System <br />and in maintenance and operation oi' off-street parking facilities, <br />and rental charges, if any, which may be incurred in connection <br />with acquis.tign by lease-purchase agreements of additional meters <br />£or qn®street parking facilities, taxes, insurance, trustee's fees <br />and all other reasonable and proper expenses of operating and <br />maintaining the than existing Parking System Facilities but exclud- <br />ing all coats of police enforcement of par~ring regulationsef <br />Seopncl. Quarterly on the 15th days of iKarch, June, September and December, <br />beginning Merck} 15, 1954, into the ~arki.ng Debt Service Fund,' <br />one-half of the amount of interest due on the next ensuing z~nt.:rest <br />payment date and one-quarter of the next ensuing principal maturitar <br />pf all Bonds outstanding. r <br />Thirds Duarterly as afpresaid, into the Parking Reserve `t+lxnd, a sum at least <br />equal to 25~ of the amount payable on such date into the Parking <br />Debt Service Fland as required by paragraph Secon~~?, which sums sExall <br />be paid in for so long, and resumed as often, as may be necessary <br />to cx•eats and thereafter maintain a balance in said Fund at least <br />equal, on eaoh December 31st, to the aggregate amour}t of payments <br />required by the 1`oregoing paragraph ,econd to be made into the <br />Parking ?~bt Service Fund during the ensuing two oalendar ;,Fars <br />w?th respect to all Bonds then outstanding. Moneys in the ~'arking <br />Reserve Fund on any such December 31st in excess of the foregoing <br />requirements may be applied by the City to retire Bonds by call nr <br />by purchase for cancellation at a price not exceed~.ng their fair <br />market value nor, on and after October 1, 19609 their then prevail- <br />ing redemption prices r' <br />Fqurth. Quarterly as aforesaid such sum in addition to the foregoing require- <br />ments as may be necessary to mare up any previous deficiency in any <br />such required monthly deposits, <br />Fifth. Any surplus in the Parking Mater Fund, provided the requirements <br />of the Parking Debt Service Fund anfl Parking Reserve Fund are then <br />current and in gpod standing, and may be set aside and used by thw <br />City for extensions and improvements of the Parking System and <br />ctherwi5e shall kae deposited in the Parking Reserve Fund for re- <br />tirement of Bonds as therein provided< <br />The Parking Debt Service Fund and Parking Reserve Fund shall be maintained <br />in the custody of the Indenture trustee and shall be used solely for the payanent <br />of the principal and interest of the Bonds until fully paide IIntil required for such <br />purpose, moneys in the Parking Reserve Fund may upon written instructions of the <br />Directox of Finance be invested in bonds and notes of the United States maturing in <br />not more than five years from date pf investment, and any interest earned thereon <br />shall be credited to said Reserve Fund< if at any time the City shall have ap- <br />propriated moneys sufficient, together with moneys and investments in said Parki.rg <br />~,eserve Fund, to retire in full on the next available redemption date any than <br />outstanding issue of Bonds, without thereby reducing the balance thereafter re- <br />maining i-n said Fund below the amount which on such call date would be required <br />