Revenue Bond Account definition
Examples of Revenue Bond Account in a sentence
To this account shall be credited all proceeds of the Bonds (except accrued and capitalized interest, which shall be paid into the Revenue Bond Account and any Bond proceeds to be deposited in the Reserve Account Pursuant to the Series Resolution authorizing the issuance of the Bonds of that series).
There shall be a Surplus Account, to which shall be credited on the books and records of the City all Net Revenues on hand at any time in excess of the current requirements of the Operation and Maintenance Account, the Revenue Bond Account, the Reserve Account and the Replacement and Depreciation Account.
There shall be a Reserve Account which shall be used only to pay the principal of and interest on Bonds when amounts on hand in the Revenue Bond Account are insufficient for the purpose, and if ever so used shall be reimbursed therefor from any amounts on hand in the Replacement and Depreciation Account, or from the next Net Revenues in excess of the requirements of the Revenue Bond Account.
There shall be a Revenue Bond Account which shall be used only to pay principal and interest on Bonds.
The requirements of the Revenue Bond Account are cumulative, and if the full amount required cannot be transferred in any month, the deficiency shall be restored from the next Net Revenues available.