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for deposit to the Operating Reserve Fund. Such loan shall bear simple interest at nine <br /> percent (9%) and shall be repaid out of the Surplus Fund, to the extent that funds are <br /> available. Repayments of this loan shall be made prior to any distributions to the Borrower <br /> or redemptions of Subordinate Bonds as provided in Section 5.05. <br /> Commencing April 1, 2003,the trustee shall deposit to the Operating Reserve Fund <br /> any Loan Repayments and other funds in the Revenue Fund as provided in section 5.01(g) <br /> of the Indenture as necessary to maintain or restore the balance therein to the Operating <br /> Reserve Requirement. <br /> Moneys on deposit in the Operating Reserve Fund are pledged to and shall be used <br /> by the Trustee for the payment of(i)principal of and interest on the Senior Bonds when due, <br /> in the event amounts on deposit in the Senior Debt Service Account of the Bond Fund are <br /> insufficient therefor, and (ii) Operating Expenses (including deposits to the Taxes and <br /> Insurance Fund and the Repair and Replacement Fund). Amounts in the Operating Reserve <br /> Fund shall be valued in the manner and at the times as provided for the Debt Service Reserve <br /> Fund. Investment earnings from the Operating Reserve Fund in excess of the Operating <br /> Reserve Requirement shall be transferred to the Senior Debt Service Account of the Bond <br /> Fund. <br /> Upon final payment, redemption or defeasance of all Series 2001 Bonds and the <br /> satisfaction of all obligations under the Loan Agreement, and so long as there is no default <br /> ongoing under the Loan Agreement,the Mortgage or the Indenture,then upon the release of <br /> the Indenture the Trustee shall remit all amounts on deposit in the Operating Reserve Fund <br /> to the Borrower(including the release of any bank letter of credit in its entirety). <br /> Pledge of Tax Increment Revenues <br /> On or before the Date of Issuance, the City will execute and deliver the Tax <br /> Increment Note, whereby the City will agree to pay to the Borrower the Tax Increment <br /> Revenue, and the Borrower will deliver the Assignment of TIF Note to the Trustee as <br /> additional security for the Bonds, and will direct the City to make the payments of Tax <br /> Increment Revenue to the Trustee. The Trustee shall deposit the Tax Increment Revenue, <br /> as received, in the Revenue Fund. <br /> Rebate Fund <br /> Amounts shall be deposited in the Rebate Fund as provided in Section 5.01 of the <br /> Indenture,and as described in Sections 2.03(s)and 4.02(h)of the Loan Agreement. If on the <br /> 30day following any Computation Date for any issue of Tax-Exempt Bonds, the Trustee <br /> has not received from the Borrower written evidence from a Rebate Analyst as to the amount, <br /> if any,of rebatable arbitrage required to be paid to the United States in connection with such <br /> Computation Date and such Tax-Exempt Bonds (the "Rebate Report"), the Trustee, at the <br /> expense of the Borrower shall engage a Rebate Analyst to prepare a Rebate Report,notifying <br /> the Borrower of such engagement and promptly providing to the Borrower a copy of the <br />