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other costs reasonably necessary and incidental <br /> thereto. To the Capital Expenditures Account there <br /> shall be credited $ of the proceeds of <br /> the Bonds, the proceeds of any other bonds issued to <br /> finance the acquisition or betterment of Golf Course <br /> facilities, and such other moneys as may from time to <br /> time be appropriated thereto to pay such capital <br /> expenditures of the Golf Course. Upon payment of all <br /> capital expenditures of the Golf Course, any moneys <br /> remaining in the Capital Expenditures Account shall be <br /> transferred to the Debt Service Account. <br /> (b) Gross Revenue Account. All Gross Revenues <br /> shall be credited as received to the Gross Revenue <br /> Account of the Golf Course Fun• an• s a •e e • an• <br /> invested therein, transferred to other Accounts of the <br /> Golf Course Fund, and disbursed and expended as <br /> provided in this paragraph 16. <br /> (c) Debt Service Account. To the Debt Service <br /> Account of the Golf Course Fund there are hereby <br /> irrevocably pledged, and the same shall be appropriated <br /> and credited thereto, on or before the 10th day of each <br /> month, beginning the first month following the date of <br /> full operation of the Golf Course, the amount of Gross <br /> Revenues on hand in the Gross Revenue Account (net of <br /> any other amounts on hand in the Debt Service Account <br /> and available for such purposes) equal to one-sixth of <br /> the interest to become due in the next six months plus <br /> one-twelfth of the principal to become due in the next <br /> twelve months on bonds payable from the Debt Service <br /> Account. The Debt Service Account shall be used only <br /> to pay the principal of and interest on bonds made <br /> payable therefrom, including the Bonds, when due. The <br /> balance on hand in said Account on each such payment <br /> date shall be used first to pay pro rata the interest <br /> then due on all such bonds, and second to pay the <br /> principal of the matured bonds in order of their <br /> maturity dates, pro rata with respect to bonds maturing <br /> on the same date. With respect to all bonds payable <br /> H• . . . ' S • " �! - _ • <br /> bonds theretofore issued pursuant to and secured by <br /> this Resolution except: (i) bonds paid and cancelled <br /> by the City or delivered to the City for cancellation; <br /> and (ii) bonds which have been discharged as provided <br /> in paragraph 26. <br /> Any proceeds of the Bonds and any sums from time to <br /> time held in the Capital Expenditures Account, the Reserve <br /> 244882 <br /> 18 <br />