Project Fund Held by Authority. Prior to the issuance of the first series of Bonds, Available Special Taxes collected by the Authority (including from prepayments of Special Taxes) shall be deposited in the Project Fund established by the Authority for the CFD and may be disbursed to pay or reimburse the costs of the Facilities in accordance with this Agreement. All funds in the Project Fund shall be considered a portion of the Available Amount, and upon the issuance of the first series of Bonds for the CFD, the Project Fund shall be transferred to the trustee or fiscal agent for the Bonds (the “Trustee”) to be held in accordance with the Indenture.
