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e e earthquakes, hurricanes, storms, tornadoes or other similar .causes or events, and the proceeds, if any, of insurance are insufficient to pay the cost of replac- ing, reconstructing or repairing such damaged or destroyed property or properties~ or (c) Paying the principal of, premium, if any, and interest on the Bonds or any Additional Bonds on any maturity, redemption or interest payment date when moneys in the special funds created sol~ly for the payment and security thereof are insufficient to make a required payment on the Bonds or any Additional Bonds, either or both. 7.07. Deficiencies. If in any rnonth the Authority shall fail to deposit into any Fund provided for by this Resolution the full amounts required, arnounts equivalent to such deficiencies shall be set apart and paid into said Funds from the first available and unallocated Net Revenues of the following month or months, and such payment shall be in addition to the amounts otherwise required to be paid into said Funds during such month or months. To the extent necessary, the Authority shall increase the rates and charges for its services to make up for any such deficiencies. 7.08. Surplus Funds. Notwithstanding the pro- visions of Section 5 hereof, Net Revenues in excess of those necessary to establish and maintain the Funds required in this Resolution rnay be used for any purpose now or hereafter authorized by law. 7.09. Investment of Certain Moneys. Moneys in the Bond Fund, the Construction Fund, the Reserve Fund and the Rebate Fund may, upon authorization by the Board of Directors, be invested in (a) Government Obligations and (b) certificates of deposit of any bank or trust. company whose deposits are insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, provided that such certificates of deposit, to the extent that they exceed the amounts covered by such insurance, are fully secured in the manner required by law~ provided, however, that any investrnent in a certificate of deposit may not be a prohibited payment, within the meaning of Treas. Reg. S 1.103-l5AT(d) (6), if at the tirne of such investment Treas. Reg. S 1.103-15AT(d) (6) is applicable to the Bonds. Any obligation in which moneys from any Fund are so invested shall be kept and held at an official depository bank of the Authority and shall be promptly sold and the proceeds of sale applied to the making of any payments 022DESAO/024C04 -24-