11-82 Hospital Improvement Revenue Bonds

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Improvement Bonds Account of the Debt Service Fund, on or prior to the twentieth day of each calendar month commencing in June, 1973, the equal monthly amount necessary for the payment of the principal of the Improvement Bonds to be retired on the next succeeding June 1 whether such retire- ment be at maturmty or by mandatory sinkzng fund redemption. (B) Into the Interest Payment Subaccount of the Series 1982 Bonds Account of the Debt Service Fund, on or prior to the t~en'tmeth day of each calendar month commencmng February, 1982, the equal monthly amount as shall be suffi- cient to pay the interest due on the next ensuing mnterest payment date on the Series 1982 Bonds after first crediting agamnst such monthly amount any amount of capitalized interest or other moneys then held mn such Subaccount and to be applied to such monthly payment for interest; and into the Principal Payment Subaccount of the Series 1982 Bonds Account of the Debt Service Fund, on or prior to the twentieth day of each calendar month commencing in February, 1984, the equal monthly amount necessary for the payment of the principal of the Series 1982 Bonds to be retired on the next succeeding February 1, ~ether such retmrement be at maturity or by mandatory sinking fund redemption. Third: (A) Into the Improvement Bonds Account of the Debt Service Reserve Fund, monthly on or prior to the twentieth day of each calendar month commencing with the month of March, 1972, the sum of $10,000 in each of the months from March to June, inclusive, in the year 1972; $20,000 mn each of the months from July, 1972 to May, 1973, inclusive; and $10,000 in each of the months from June, 1973 to May, 1978, mnclusive, together with all interest whmch ms earned on the Debt Servmce Reserve Fund and Surplus Fund untml a balance of $1,000,000 has been accumulated in said Improvement Bonds Account of the Debt Service Reserve Fund, provmded that on the tenth day of each calendar month on and after June, 1978, any moneys in the Improvement Bonds Account of the Debt Service Reserve Fund mn excess of the sum of the payments required to be made mnto the Improve- ment Bonds Account of the Debt Service Fund in the subsequent year mn which such sum is hmghest, or $860,000, whichever is greater, shall be transfer- red at the direction of the Fiscal Officer to the Surplus Fund, and provided further that commencmng wroth the principal payment on June 1, 1993 and thereafter the moneys on deposmt in the Improve- ment Bonds Account of the Debt Service Reserve Fund shall be used for the payment of the prmnci- pal of the Improvement Bonds to be retired on such date. (B) Into the Series 1982 Bonds Account of the Debt Service Reserve Fund at the tmme of the issuance of the Series 1982 Bonds~ an amount equal to the maximum amount required to be -10-