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• <br /> <br />r-" <br />rates and charges for services rendered by the Authority <br />sufficient to establish and maintain funds for th•e payment <br />thereof. <br />Section 7. REVENUES AND FUNDS. <br />7.01. Creation of Funds. All Revenues shall be <br />kept separate and apart from all other funds of the <br />Authority, and the following special funds ("Funds") shall <br />be established and maintained in an official depository bank <br />or depository banks of the Authority so long as any of the <br />Bonds or any Additional Bonds, or interest thereon, are <br />outstanding and unpaid: <br />(a) La Porte Area Water Authority Revenue Fund <br />(the "Revenue Fund"); <br />(b) La Porte Area Water Authority Bond Fund (the <br />"Bond Fund"); <br />(c) La Porte Area Water Authority Reserve Fund <br />(the "Reserve Fund"); <br />(d) La Porte Area heater Authority Rebate Fund <br />(the "Rebate Fund"); <br />(e) La Porte Area Water Authority Contingency <br />Fund (the "Contingency Fund"); and <br />(f) La Porte Area Water Authority Construction <br />Fund (the "Construction Fund"). <br />7.02. Revenue Fund. All Revenues of every nature <br />received shall be deposited from day to day as collected <br />into the Revenue Fund, and all Operating and Maintenance <br />Expenses shall be paid from the Revenue Fund upon approval <br />by the Board. The Revenues not actually required to pay <br />- Operating and Maintenance Expenses shall be deposited from <br />the Revenue Fund into the other Funds provided for by this <br />Resolution, in the manner and amounts hereinafter provided, <br />and each of such Funds shall have priority as to such <br />deposits in the order in which they are treated in the <br />following sections. <br />7.03. Bond Fund. There shall be deposited into <br />the Bond Fund: <br />(a) (i) On or before each interest payment <br />date occurring prior to the first sale of water to <br />038DESAJ/024C02 ~ -19- <br />