Common use of Fund Restrictions Clause in Contracts

Fund Restrictions. A. Monies deposited into the CRR Fund by the WCID shall be used for the purpose of paying Non-Budgeted CRR Costs, including repayment of any GBRA CRR Payment, together with accrued interest. B. The balance of monies deposited into the CRR Fund in excess of $750,000 may be used by the WCID for the payment of the Budgeted CRR Cost Requirement or any lawful purpose. C. All monies deposited into the Hydro Fund by the WCID up to $500,000 shall be used in accordance with Section 5.6. D. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Debt Service Requirement into the appropriate Debt Service Fund as required by the resolution or indenture of trust authorizing the Bonds. All monies deposited into such Debt Service Fund shall be used only for the purpose of paying the debt service on the Bonds or establishing, replenishing or maintaining the funds established by the resolution or indenture of trust authorizing the Bonds. E. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Operating and Maintenance Requirement into the Lake XxXxxxxxx Operating Fund. All monies deposited into the Lake XxXxxxxxx Operating Fund shall be used for the purpose of paying the Operation and Maintenance Expenses only. F. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Budgeted CRR Requirement into the Lake XxXxxxxxx Capital Repair and Replacement Fund. All monies deposited into the Lake XxXxxxxxx Capital Repair and Replacement Fund shall be used for the purpose of paying the Budgeted CRR Costs only.

Fund Restrictions. A. Monies deposited into the CRR Fund by the WCID shall be used for the purpose of paying Non-Budgeted CRR Costs, including repayment of any GBRA CRR Payment, together with accrued interest. B. The balance of monies deposited into the CRR Fund in excess of $750,000 may be used by the WCID for the payment of the Budgeted CRR Cost Requirement or any lawful purpose. C. All monies deposited into the Hydro Fund by the WCID up to $500,000 shall be used in accordance with Section 5.6. D. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Debt Service Requirement into the appropriate Debt Service Fund as required by the resolution or indenture of trust authorizing the Bonds. All monies deposited into such Debt Service Fund shall be used only for the purpose of paying the debt service on the Bonds or establishing, replenishing or maintaining the funds established by the resolution or indenture of trust authorizing the Bonds. E. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Operating and Maintenance Requirement into the Lake XxXxxxxxx Placid Operating Fund. All monies deposited into the Lake XxXxxxxxx Placid Operating Fund shall be used for the purpose of paying the Operation and Maintenance Expenses only. F. GBRA shall deposit, as collected, that portion of the Annual WCID Payment that represents the Budgeted CRR Requirement into the Lake XxXxxxxxx Placid Capital Repair and Replacement Fund. All monies deposited into the Lake XxXxxxxxx Placid Capital Repair and Replacement Fund shall be used for the purpose of paying the Budgeted CRR Costs only.