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(c) a Bond Fund; (d) a Reserve Fund; and (e) a Rebate Fund. W1! 4.03. Application of Proceeds and Other Funds. On the Bond Closing, the Authority shall deposit all of the proceeds of the Bonds as follows: (a) $ to the Cost of Issuance Fund; (b) $ to the Reserve Fund; and (c) $ to the Redeveloper or such other person specified by the Redeveloper to pay the Series 2004 Note in full on the Bond Closing Date; and (d) $ to Fannie Mae to pay a portion of the Fannie Mae Loan. 4.04 Cost of Issuance Fund. The Authority shall deposit in the Cost of Issuance Fund the amounts referred to in Section 4.03(a). The Authority shall use money on deposit to the credit of the Cost of Issuance Fund, on the Bond Closing or as soon thereafter as practicable, to pay the costs of issuance. Amounts remaining on deposit in the Cost of Issuance Fund thirty (30) days after the Bond Closing shall be transferred to the Earnings Account of the Revenue Fund. Upon such final disbursement, the Authority shall close the Cost of Issuance Fund. 4.05 Revenue Fund. (a) The Authority shall deposit all Available Tax Increment received in the Tax Increment Account of the Revenue Fund and shall deposit all earnings on all amounts held by the Authority from time to time in all Funds (less the Rebate Amount, if any) into the Earnings Account of the Revenue Fund. There shall also be deposited into the Earnings Account of the Revenue Fund the amounts required by the terms of Section 4.04 and Section 4.08 of this Resolution to be transferred to the Earnings Account of the Revenue Fund. (b) The Authority shall, at least five (5) days before any Payment Date, (i) disburse any fees due and owing to the Registrar to the Registrar, first from the Earnings Account and then from the Tax Increment Account, and (ii) transfer from the Revenue Fund to the Bond Fund (to the extent available) such amount which is sufficient for payment of all accrued interest or principal payable on the Bonds on the next Payment Date, first from the Earnings Account and then from the Tax Increment Account. (c) If the amount in the Reserve Fund is less than the Reserve Requirement, the Authority shall, on each Payment Date, after making the transfers provided for in subsection (b), above, transfer from the Revenue Fund to the Reserve Fund, until such time as the amount on deposit in the Reserve Fund after such transfer is equal to the Reserve Requirement. Such transfer to the Reserve Fund shall be made first from the Earnings Account and then from the Tax Increment Account. -19-