Laserfiche WebLink
be invested pursuant to the first paragraph of this Section 7 and any <br />other moneys at any time on deposit in the Escrow Account, shall be held <br />by the Trustee under the Prior Indenture in trust and irrevocably com- <br />mitted to the payment of the aforesaid principal of and interest and <br />redemption premium, if any, on the Prior Revenue Bonds, all in accord- <br />ance with the provisions of the Escrow Agreement. Pursuant to the <br />Escrow Agreement, the Issuer shall pay to the Trustee under the Prior <br />Indenture, or provide for the payment to the Trustee under the Prior <br />Indenture of, funds sufficient to provide for the payment of all fees <br />and charges of the Trustee under the Prior Indenture and any paying <br />agents due or to become due through the date on which the last of the <br />Prior Revenue Bonds will be retired. The Executive and the Fiscal <br />Officer, and each of them, are hereby authorized and directed to execute <br />and deliver the Escrow Agreement on behalf of the Issuer and to take all <br />other actions which such officials deem necessary and appropriate to <br />achieve the refunding of the Prior Revenue Bonds in accordance with this <br />Bond Legislation. <br /> <br /> Simultaneously with the issuance of the Series 1983-A Bonds, <br />the Issuer shall cause the following transfers to be made from Special <br />Funds established under the Prior Indenture: <br /> <br />(a) <br /> <br />from the Improvement Bonds Account (including the Princi- <br />pal Payment Subaccount and the Interest Payment Sub- <br />account therein) of the Debt Service Fund established <br />pursuant to the Prior Indenture, the entire balance shall <br />be transferred to the Trustee under the Prior Indenture <br />for deposit in the Escrow Account and for investmen~ and <br />application in accordance with the Escrow Agreement; <br /> <br />(b) <br /> <br />from the Series 1982 Bonds Account (including the Princi- <br />pal Payment Subaccount and the Interest Payment Sub- <br />account therein) of the Debt Service Fund established <br />pursuant to the Prior Indenture, there shall be trans- <br />ferred -- (i) to the Construction Fund established pur- <br />suant to Section 15 hereof, an amount sufficient to pay <br />interest accrued on the Series 1983-A Bonds through <br />February 1, 1984, which amount shall be determined in the <br />Certificate of Award, and (ii) to the Trustee under the <br />Prior Indenture for deposit in the Escrow Account and for <br />investment and application in accordance with the Escrow <br />Agreement, the balance; <br /> <br />(c) <br /> <br />from the Improvement Bonds Account of the Debt Service <br />Reserve Fund established pursuant to the Prior Indenture, <br />the entire balance shall be transferred to the Trustee <br />under the Prior Indenture for deposit in the Escrow <br />Account and for investment and application in accordance <br />with the Escrow Agreement; <br /> <br />(d) from the Series 1982 Bonds Account of the Debt Service <br /> Reserve Fund established pursuant to the Prior Indenture, <br /> <br />-23- <br /> <br /> <br />