COM 1109.000 2020-2022 - Laserfiche WebLink

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(iii) $ shall be deposited in the Reserve Account of the Special Tax Fund (equaling the initial Reserve Requirement) to be disbursed in accordance with Section 3.7 hereof; and (iv) $ shall be deposited to the Construction Account of the Project Fund for disbursement in accordance with Section 3.9 hereof. (c) In addition, in connection with the issuance of the 2022 Bonds, the Trustee shall deposit into the Contingency Account of the Project Fund, for disbursement in accordance with Section 3.9 hereof, $ in the form of(i) cash or a Letter of Credit provided by the Developer, or (ii)proceeds of the 2022 Bonds, if permitted under Section 4(e)of the Project Funding Agreement. Section 3.2. Deposits to and Disbursements from Special Tax Fund. (a) The Trustee shall, on each date on which the Special Taxes are received from the County, deposit the Special Taxes in the Special Tax Fund in accordance with the terms of this Indenture to be held by the Trustee, provided that any Prepayment shall be deposited in the funds and accounts (and in the respective amounts) specified in the Certificate of the Special Tax Administrator delivered to the Trustee in connection with the delivery of the Prepayment to the Trustee. The Trustee shall transfer the amounts on deposit in the Special Tax Fund on the dates and in the amounts set forth in the following Sections generally, in the following order of priority, but subject in any event to the provisions of the following Sections,to: (i) The Administrative Expense Account; (ii) The Interest Account; (iii) The Principal Account; (iv) The Redemption Account; (v) The Reserve Account; (vi) The Rebate Fund; (vii) The Surplus Fund. (b) At the maturity of all of the Bonds and, after all principal and interest then due on the Bonds then Outstanding has been paid or provided for and any amounts owed to the Trustee have been paid in full, moneys in the Special Tax Fund and any accounts therein may be used by the County for any lawful purpose. Section 3.3. Administrative Expense Account of the Special Tax Fund. In addition to Bond proceeds and Special Taxes deposited therein in connection with the issuance of any Series of Bonds, the Trustee shall, not less often than annually upon the written direction of an Authorized County Representative, transfer from the Special Tax Fund and deposit in the Administrative Expense Account from time to time amounts necessary to make timely payment of Administrative Expenses; provided, however, that, except as set forth below, the total amount transferred to the Administrative Expense Account in any Fiscal Year(commencing in the Fiscal Year ending June 23