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. other costs reasonably necessary and incidental <br />thereto. To the Capital Expenditures Account there <br />' shall be credited $ 2,720,412 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 Fund and shall be held and <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 />from the Debt Service Account, "Outstanding" means all <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 />z~eaz <br />18 <br />