With respect to any deposit with the Escrow Agent of revenues which the Sinking Fund Commission is required to make or cause to be made to various Sinking Fund accounts pursuant to Sections 179.05 through 179.08, inclusive, the Sinking Fund Commission shall make such deposits or cause such deposits to be made in such amounts and at such times (pursuant to ordinances providing for the issuance or securing of bonds or notes where applicable provision is made) to allow for the payment of debt charges from such accounts in the amounts and at the times required by the ordinances and agreements pertaining to the various obligations for the payment of the debt charges on which such accounts are respectively held. The Escrow Agent shall, at the times and in the amounts required by such ordinances and agreements, make disbursements from the appropriate Sinking Fund accounts to the paying agents responsible for the payment of debt charges on the various obligations.
(Ord. No. 944-96. Passed 6-10-96, eff. 6-19-96)