10-82 Issue Hospital Improvement Bonds

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the Debt Service Fund, Debt Service Reserve Fund and Surplus Fund may, when and as directed by the Fiscal Officer, be sold, surrendered, exchanged or otherwise disposed of, and, in computing the amount of each such Fund, the investments therein shall be valued at cost or current market which- ever is lower. If at any time the Trustee shall be provided with moneys sufficient, together with moneys ~and investments then in the Debt Service Fund and Debt Service Reserve Fund, to retire on the next available redemption date any outstanding Bonds, without thereby reducing the balance there- after remaining in the Debt Service Fund or Debt Service Reserve Fund below the amount which on such call date would be required by this Section to be on hand therein with respect to Bonds not so to be retired, the Trustee shall make available out of the Debt Service Fund or Debt Service Reserve Fund the amount required, together with the other moneys provided, to accomplish such retirement. Any Bonds purchased for cancellation shall be purchased at a price not exceeding their fair market value or their then prevailing call price, or if not then callable, then the price at which the Bonds are first callable. Interest earned on any of the Funds shall be credited to the Debt Service Reserve Fund until the balance therein has reached the amount required by para- graph THIRD above to be therein accumulated and thereafter shall be credited to the Surplus Fund unless otherwise provided in legislation authoriz- ing issuance of Additional Bonds. Any moneys or investments in each Fund shall be credited to such Fund." is hereby amended to read in its entirety as follows: Section 6. Special Funds and Application Thereof - (a) So long as any Bonds secured by the Indenture remain outstanding, all Pledged Revenues shall be applied or deposited as follows: First: To the payment of all reasonable and proper expenses of operating and maintaining the Hospital Facilities and all appurtenances thereto, excluding depreciation and capital re- placements. Second: (A) Into the Interest Payment Subaccount of the Improvement Bonds Account of the Debt Service Fund, monthly on or prior to the twentieth day of each calendar month commencing in May, 1971, the equal monthly amount as shall be sufficient to pay the interest due on the next ensuing interest payment date on the Improvement Bonds after first crediting against such monthly amount any amount of capitalized interest or other moneys then held in such Subaccount and to be applied to such monthly payment for interest; and into the Principal Payment Subaccount of the Improvement Bonds Account of the Debt Service Fund, on or prior to the twentieth day of each -14-