Examples of Revenue Fund in a sentence
There are hereby created in the Revenue Fund two separate Accounts designated “Bond Interest Account” and “Bond Principal Account”.
Interest earnings on investments in any Fund or Account shall be deposited in the Bond Interest Account of the Revenue Fund.
The City shall in each Fiscal Year include in its budget a provision to provide funds in an amount sufficient to pay the principal, premium, if any, and interest on the Bonds coming due in such Fiscal Year, but only to the extent that such amounts exceed the amount of available funds then on deposit in the Revenue Fund, and shall make annual appropriations for all such amounts.
If such principal, premium, if any, and interest on the Bonds coming due in any Fiscal Year exceeds the sum of amounts budgeted in respect thereof together with amounts then on deposit in the Revenue Fund, then the City shall amend or supplement the budget to provide for such excess amounts.
If any Bonds are Outstanding, the City shall, no later than three Business Days preceding each Interest Payment Date beginning June 1, 2021, deliver funds to the Trustee for deposit to the Revenue Fund in an aggregate amount equal to the principal (if applicable) and interest payments coming due with respect to the Bonds on such Interest Payment Date (less amounts on deposit in the Revenue Fund).