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components) shall be payable entirely from moneys in the Principal Account on <br />their respective maturity dates, and monthly deposits or credits to the Principal <br />Account to provide funds for such purpose shall commence in the month which is <br />one year prior to each such maturity date. Not later than the month immediately <br />preceding any principal payment date, the Issuer shall adjust the amount of the <br />deposit into the Principal Account so as to provide sufficient moneys in the <br />Principal Account to pay the principal on the Bonds other than Term Bonds <br />becoming due on such principal payment date. Moneys in the Principal Account <br />shall be applied by the Issuer to pay the principal of the Bonds other than Term <br />Bonds as and when the same shall become due, whether at maturity or otherwise, <br />and for no other purpose. <br />(3) Bond Amortization Account. Payments to the Bond Amortization <br />Account shall be on a parity with payments to the Principal Account. Commencing <br />in the month which is one year prior to the due date of each Amortization <br />Installment, the Issuer shall deposit into or credit to the Bond Amortization Account <br />the sum which, together with the balance in said account held for the credit of such <br />Amortization Installment and all Outstanding Term Bonds due and unpaid, shall <br />equal (a) the principal amount of all such Outstanding Term Bonds due and unpaid, <br />(b) that portion of such Amortization Installment which would have accrued during <br />the then current calendar month if such Amortization Installment were deemed to <br />accrue monthly (assuming that a year consists of twelve (12) equal calendar months <br />of thirty (30) days each) in equal amounts from a date one year preceding such due <br />date and (c) the portion of such Amortization Installment which shall have accrued <br />on such basis in prior months. Term Capital Appreciation Bonds (including their <br />respective interest components) shall be payable entirely from moneys in the Bond <br />Amortization Account on the respective due dates of the Amortization Installments <br />applicable thereto, and monthly deposits or credits to the Bond Amortization <br />Account to provide funds for such purpose shall commence in the month which is <br />one year prior to each such Amortization Installment due date. The Issuer shall <br />adjust the amount of the deposit into the Bond Amortization Account not later than <br />the month immediately preceding any date for payment of an Amortization <br />Installment so as to provide sufficient moneys in the Bond Amortization Account <br />to pay such Amortization Installment on such date. Moneys in the Bond <br />Amortization Account shall be applied by the Issuer to purchase or redeem Term <br />Bonds in the manner herein provided, and for no other purpose. <br />Amounts accumulated in the Bond Amortization Account with respect to any Amortization <br />Installment may be applied by the Issuer, on or prior to the sixtieth (60th) day preceding the due <br />date of such Amortization Installment (i) to the purchase of Term Bonds of the Series and maturity <br />for which such Amortization Installment was established, at a price not greater than the <br />Redemption Price at which such Term Bonds may be redeemed on the first date thereafter on <br />which such Term Bonds shall be subject to redemption, or (ii) to the redemption at the applicable <br />Redemption Price of such Term Bonds. The applicable Redemption Price (or principal amount of <br />maturing Term Bonds) of any Term Bonds so purchased or redeemed shall be deemed to constitute <br />part of the Bond Amortization Account until such Amortization Installment date, for the purposes <br />of calculating the amount of such Account. As soon as practicable after the sixtieth (60th) day <br />preceding the due date of any such Amortization Installment, the Issuer shall proceed to call for <br />SCHEDULE VI-3 <br /> <br />