Establishment of Construction Fund. The Hillsborough County Aviation Authority Construction Fund (the “Construction Fund”), is hereby created and established, and the Authority shall establish separate accounts therein pursuant to each Supplemental Trust Agreement pertaining to Additional Bonds issued pursuant to Section 2.09 and Section 2.10(a) hereof, to the credit of which proceeds of such Additional Bonds shall be deposited. Each such account in the Construction Fund shall be held by a Special Trustee appointed by the Authority pursuant to the Supplemental Trust Agreement. There may also be paid to such Special Trustee for the credit of the applicable account or accounts in the Construction Fund any moneys received from any other source for the construction or acquisition of each respective Airport System Project. Each account in the Construction Fund shall be held separate and apart from each other account therein and shall be used and applied in accordance with the terms of this Trust Agreement and the Supplemental Trust Agreement pursuant to which it was created. The moneys in each account in the Construction Fund shall be held by such Special Trustee in trust and shall be applied to the payment of the cost of the Airport System Projects for which such accounts were created, and pending such application, shall be subject to a lien and charge in favor of the holders of the Bonds issued to finance such Airport System Projects and for the further security of such holders until paid out or transferred as herein provided.
Establishment of Construction Fund. There is hereby created and established with the Trustee a trust fund in the name of the Issuer to be designated the “Education Services Facility Lease Revenue Bonds (SWWC Service Cooperative), Series 2024 Construction Fund” (the “Construction Fund”). On the Date of Original Issuance of the Bonds there shall be deposited with the Trustee to the credit of the Construction Fund those proceeds of the Series 2024A Bonds described in Section 4.01(c). As provided in Section 4.05, Construction Period income and profit from the investment of moneys in the Construction Fund shall be credited to the Construction Fund. The moneys in the Construction Fund shall be held in trust by the Trustee and applied to the payment of the Project Costs in accordance with and subject to the provisions of this article and the applicable provisions of the Loan Agreement, and pending such application shall be subject to a lien and charge in favor of the Holders of the Bonds issued and Outstanding under this Indenture and shall be held for the further security of such Holders until paid out as herein provided. In the event the moneys in the Bond Fund shall be insufficient on any Interest Payment Date to pay principal of, premium (if any) or interest on the Bonds due on such date, the Trustee shall use any moneys then on deposit to the credit of the Construction Fund, to the extent needed, to pay such principal, premium and interest. Any sums in the Construction Fund in excess of any amount required to pay Project Costs shall be transferred to the Bond Fund at the time or times and in the manner provided in Section 3.6 of the Loan Agreement. Any interest earned on sums held in the Construction Fund prior to the Completion Date shall remain a part of the Construction Fund.
Establishment of Construction Fund. 23 SECTION 5.02. Held in Trust.........................................................................23 SECTION 5.03. Use of Moneys.........................................................................23 SECTION 5.04. Retention of Requisitions.............................................................23 SECTION 5.05. Completion of Project.................................................................23 SECTION 5.06. Disposition of Surplus Funds..........................................................23 ARTICLE VI BOND FUND SECTION 6.01. Establishment of Bond Fund............................................................24 SECTION 6.02. Flow of Funds.........................................................................24 ARTICLE VII SECURITY FOR AND INVESTMENT OF MONEYS SECTION 7.01. Security..............................................................................25 SECTION 7.02. Investment of Funds...................................................................25 SECTION 7.03. Transfer of Balance...................................................................25 SECTION 7.04 Acknowledgement of Security Interest; Control.........................................25 SECTION 7.05 Control of Securities Accounts........................................................25 SECTION 7.06 Control of Deposit Accounts...........................................................25 SECTION 7.07 Trustee's UCC Jurisdiction............................................................25 ARTICLE VIII REDEMPTION OF BONDS
Establishment of Construction Fund. There is hereby created and established with the Trustee a fund designated as the "Mississippi Business Finance Corporation--Premier Entertainment Biloxi LLC Construction Fund". The Construction Fund shall consist of the Trustee Disbursement Account and the Company Direct Disbursement Account. Pursuant to the provisions of Section 2.02(a) hereof, proceeds of the sale of the Series 2004 Bonds shall be caused to be paid from time to time to the Trustee and deposited into the appropriate account of the Construction Fund. If, with regard to the sale of any Additional Bonds, there is any interest accrued on such Series of Bonds to the date of their delivery to the initial purchasers thereof, such amounts shall be deposited by the Trustee in the Bond Fund hereinafter created and established. The Trustee shall have authority to disburse amounts on deposit in the Trustee Disbursement Account of the Construction Fund and the Company shall have authority to disburse amounts on deposit in the Company Direct Disbursement Account in accordance with the provisions of Section 5.03 hereof. Payments of amounts to be disbursed by the Trustee may be made by check or wire sent by the Trustee as directed in the applicable requisition submitted by the Authorized Company Representative. Amounts to be disbursed by the Company from the Company Direct Disbursement Account shall be made by check, signed by an Authorized Company Representative.
Establishment of Construction Fund. The Trustee shall establish a Construction Fund for the payment of the Costs of the Project. The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Issuer may deposit therein. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held as security for all Bonds Outstanding hereunder. The Trustee shall maintain a record of the income on investments and interest earned on amounts held in the Construction Fund and on proceeds of Bonds held in respect of accrued or capitalized interest held by the Trustee as Revenues. Subject to the provisions of Section 6.05, such income or interest may be expended at any time or from time to time to pay Costs of the Project in the same manner as the proceeds of Bonds deposited in the Construction Fund are expended.
Establishment of Construction Fund. 31 5.02 Payments from Construction Fund ........................ 31 5.03 Payment to Relate to Underlying Obligations ............ 32 5.04 Procedure Upon Completion of Project ................... 32 5.05 Use of Money in Construction Fund Upon Default ......... 32
Establishment of Construction Fund. There is hereby created and established with the Trustee a Construction Fund for the payment of Costs of the Project. The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Authority may deposit therein including contributions by Company. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held for the security of all the Bonds Outstanding hereunder and invested as provided in Article VII. Separate accounts within the Construction Fund shall be maintained by the Trustee upon request of the Authority whenever, in the opinion of the Authority, it is appropriate to have a separate accounting in respect of the Costs of any designated portion of the Project. The Authority may permit the Company, from time to time, to deposit moneys in the Construction Fund for the purpose of paying the Costs of the Project. The investment earnings on moneys deposited in the Construction Fund shall be added to the Construction Fund and may be expended at any time or from time to time to pay Costs of the Project in the same manner as the proceeds of the Bonds are expended.
Establishment of Construction Fund. The Trustee shall establish and maintain and hold in trust a fund for the payment of costs which shall be entitled the "Portland General Electric Company Series 1990A Construction Fund" (the "Construction Fund"). The Construction Fund shall consist of the amounts deposited therein pursuant to this Indenture and any other amounts the Company or the Issuer may deposit therein. The amounts in the Construction Fund, until applied as hereinafter provided, shall be held for the security of all Bonds Outstanding hereunder. The Trustee shall maintain a record of the income on investments and interest earned on deposit of amounts held in the Construction Fund. Such income or interest may be expended at any time or from time to time to pay Costs in the same manner as the proceeds of Bonds deposited in the Construction Fund are expended, and for no other purpose. Upon written direction from an Authorized Company Representative, the Trustee shall withdraw from the Construction Fund moneys for the payment of interest on the Series 1990A Bonds during acquisition and construction of the Project, and shall deposit such moneys in the Bond Fund for the payment of such interest.
