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1 <br /> Commercial Paper or similar obligations) a ratable portion of the next installment of principal <br /> coming due on such First-Lien Revenue Obligations within the succeeding twelve (12) calendar <br /> months, together with funds sufficient to make up any deficiency in such payments in any past <br /> month. <br /> Such interest and principal shall be promptly paid when due. <br /> The moneys credited to the Debt Service Account, excluding any investment earnings <br /> which may be required to be rebated to the federal government, shall be used to pay.the Debt <br /> Service Requirements of all First-Lien Revenue Obligations then Outstanding, as such Debt <br /> Service Requirements become due, except as otherwise provided in this Ordinance. The Debt <br /> Service Account shall also be maintained as a sinking fund for the mandatory redemption of any <br /> First-Lien Revenue Obligations which are subject to mandatory sinking fund redemption. <br /> Nothing herein shall be construed to prevent the City from creating separate principal and <br /> interest subaccounts within the Debt Service Account for separate Series of First-Lien Revenue <br /> Obligations and accounting separately for any deposits made thereto on account of separate <br /> Series of First-Lien Revenue Obligations, if such action is deemed by the City to be necessary or <br /> desirable in order to comply with any statute or regulation governing the excludability from <br /> a gross income for federal income tax purposes of interest on such First-Lien Revenue Obligations <br /> ;or for any other reason,provided that any such separate subaccounts shall have claims to the Net <br /> Pledged Revenues equal to and on a parity with those of the other such subaccounts. <br /> Section 3.04 Debt Service Reserve Accounts. In connection with any Series of <br /> Obligations, the City may provide by Series Ordinance for the establishment of a Debt Service <br /> Reserve Account for such Series, in such amount, if any, and on such specific terms as <br /> ,.determined by such Series Ordinance or a Supplemental Resolution or Final Terms Certificate. <br /> If, as to any Series of First-Lien Obligations for which a Debt Service Reserve Account <br /> has been established, the City shall at any time or for any reason fail to pay into the Debt Service <br /> Account the full amount stipulated by Supplemental Resolution or Final Terms Certificate, then <br /> an amount shall at such time be paid into the Debt Service Account, or a subaccount thereof <br /> associated with such Series of First-Lien Obligations, from the Debt Service Reserve Account <br /> established for such Series, equal to the difference between that paid from the Net Pledged <br /> Revenues and the full amount so stipulated. The money so used shall be replaced to the Debt <br /> Service Reserve Account from the first moneys credited to the Income Account thereafter <br /> received and not required to be otherwise applied by Sections 3.02 and 3.03 hereof. If First-Lien <br /> Revenue Obligations are Outstanding and the Series Ordinances authorizing the issuance of <br /> those Obligations require the replacement of moneys in separate Debt Service Reserve Accounts <br /> therefor, then the moneys replaced in the Debt Service Reserve Accounts shall be replaced on a <br /> pro rata basis based upon the relative principal amounts of the then Outstanding Series of First- <br /> Lien Revenue Obligations, as moneys become available therefor. If at any time the City shall for <br /> any reason fail to pay into the Debt Service Reserve Account, if any, the full amount stipulated <br /> in the applicable Series Ordinances from the Net Pledged Revenues, the difference between the <br /> amount paid and the amount so stipulated shall in like manner be paid therein from the first <br /> #866939v 11 16 <br />