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� � levying and collection of taxes; and the Board shall levy, certify, and collect said taxes in the manner provided by law for the purpose of funding the Note Fund for the payment of the principal of and interest on the Note, and said taxes, when collected, shall be kept for and applied only to the payment of the principal of, interest on and any late charges on the Note as herein specified. Pursuant to Section A(4)(e) of the Loan Contract the District shall execute the Security Agreement to convey to the CWCB a security interest in the Note Fund, also described as "pledged revenues." Moneys credited to the Note Fund may be invested or deposited in accordance with the laws of the State of Colorado. Section 5. Reserve Account. There is hereby created and established the Reserve Account which will be maintained separately as a line item within the Note Fund. Moneys in the Reserve Account shall be used, if necessary, only to prevent a default in the payment of the principal of or interest on the Note. The Reserve Account shall not be used to pay or secure any other bonds or oblig ' a e eserve Account is hereby pledged to the payment of the Note. In the event the ' d to the Note Fund are insufficient to pay the principal of or interest on the Note en due, the 's ' t shall transfer from the Reserve Account an amount which, when i d i �n s i t Note Fund, will be sufficient to make such payments when due.. �� In the event the District applies funds from the Reserve Account toward repayment of the Note, the District shall replenish the amount of withdrawal and replenish the Reserve Account as soon as practicable by law. The Reserve Account shall be funded as set forth in Section A(4)(c) of the Loan Contract. The Reserve Account shall be funded and maintained as aforesaid for so long as the Note is outstanding. Moneys credited to the Rese�ve Account may be invested in accordance with the laws of the State of Colorado. Except to the extent otherwise required by such Section, so long as the District is in compliance with the requirements of this Section concerning credits to the Reserve Account, all interest income from the investment or reinvestment of moneys credited to the Reserve Account shall be credited to the Note Fund. Section 6. Direction to Take Other Action. The appropriate ofticers and employees of the District are hereby authorized and directed to take all other actions necessary or appropriate to effectuate the provisions of this Resolution, including but not limited to the execution of such certificates and affidavits as may be reasonably required by CWCB or bond counsel. � -7-