2004 Escrow Fund means the fund by that name held by the Escrow Bank under the 2004 Escrow Agreement. “2004 Installment Payments” means the payments required to be paid by the District pursuant to the 2004 Installment Sale Agreement. “2004 Installment Sale Agreement,” being that certain 2012 Installment sale agreement, dated as of April 1, 2004, by and between the Corporation and the District, and any duly authorized and executed amendment or supplement thereto.
From the moneys on deposit in the 2004 Escrow Fund, the Escrow Agent shall pay on June 1, 2014 the redemption price of the Refi.mded 2004 Bonds (i.e., 100% of the principal amount thereof), together with interest accrued with respect thereto to the date of redemption, without premium.
The deposit of moneys into the 2004 Escrow Fund will constitute an irrevocable deposit for the benefit of the owners of the 2004 Certificates.
Any moneys remaining in the 2004 Escrow Fund after payment of the Refunded 2004 Bonds in full as provided herein shall be transferred to the City to be used for any lawful purpose of the City.
A portion of the proceeds of the Bonds, together with certain moneys released from the indenture relating to the 2004 Bonds, will be deposited in an escrow fund (the "2004 Escrow Fund") held in trust by the Escrow Bank under an escrow deposit and trust agreement with the Agency.
The WRD will effect the advance prepayment of the 2011 Certificates by causing a portion of the proceeds of the Bonds, together with certain other funds, to be deposited into an escrow fund for the 2011 Certificates (the 2011 Escrow Fund, and together with the 2004 Escrow Fund and the 2008 Escrow Fund, the Escrow Funds) created under the Escrow Agreement.