204.634. 1. The resolution of the board of trustees of thereorganized common sewer district authorizing the issuance of revenue bondsunder the authority of sections 204.600 to 204.640 may provide thatperiodic allocations of the revenues to be derived from the operation ofthe system for the benefit of which the bonds are issued shall be made intosuch accounts, separate and apart from any other accounts of the district,as shall be deemed to be advisable to assure the proper operation andmaintenance of the system and the prompt payment of the indebtednesschargeable to the revenues of the system. The accounts may include, butshall not be limited to:
(1) An account to provide funds to operate and maintain the system;
(2) An account to provide funds to pay principal and interest on thebonds as they come due;
(3) An account to provide an adequate reserve for depreciation, to beexpended for replacements of the system;
(4) An account for the accumulation of a reserve to assure the promptpayment of the bonds and the interest whenever and to the extent that otherfunds are not available for that purpose;
(5) An account to provide funds for contingent expenses in theoperation of the system;
(6) An account to provide for the accumulation of funds for theconstruction of extensions and improvements to the system; and
(7) Such other accounts as may be desirable in the judgment of theboard of trustees.
2. The resolution also may establish such limitations as may beexpedient upon the issuance of additional bonds, payable from the revenuesof the system, or upon the rights of the holders of such additional bonds.Such resolution may include other agreements with the holders of the bondsor covenants or restrictions necessary or desirable to safeguard theinterests of the bondholder and to secure the payment of the bonds and theinterest thereon.
204.634. 1. The resolution of the board of trustees of thereorganized common sewer district authorizing the issuance of revenue bondsunder the authority of sections 204.600 to 204.640 may provide thatperiodic allocations of the revenues to be derived from the operation ofthe system for the benefit of which the bonds are issued shall be made intosuch accounts, separate and apart from any other accounts of the district,as shall be deemed to be advisable to assure the proper operation andmaintenance of the system and the prompt payment of the indebtednesschargeable to the revenues of the system. The accounts may include, butshall not be limited to:
(1) An account to provide funds to operate and maintain the system;
(2) An account to provide funds to pay principal and interest on thebonds as they come due;
(3) An account to provide an adequate reserve for depreciation, to beexpended for replacements of the system;
(4) An account for the accumulation of a reserve to assure the promptpayment of the bonds and the interest whenever and to the extent that otherfunds are not available for that purpose;
(5) An account to provide funds for contingent expenses in theoperation of the system;
(6) An account to provide for the accumulation of funds for theconstruction of extensions and improvements to the system; and
(7) Such other accounts as may be desirable in the judgment of theboard of trustees.
2. The resolution also may establish such limitations as may beexpedient upon the issuance of additional bonds, payable from the revenuesof the system, or upon the rights of the holders of such additional bonds.Such resolution may include other agreements with the holders of the bondsor covenants or restrictions necessary or desirable to safeguard theinterests of the bondholder and to secure the payment of the bonds and theinterest thereon.
204.634. 1. The resolution of the board of trustees of thereorganized common sewer district authorizing the issuance of revenue bondsunder the authority of sections 204.600 to 204.640 may provide thatperiodic allocations of the revenues to be derived from the operation ofthe system for the benefit of which the bonds are issued shall be made intosuch accounts, separate and apart from any other accounts of the district,as shall be deemed to be advisable to assure the proper operation andmaintenance of the system and the prompt payment of the indebtednesschargeable to the revenues of the system. The accounts may include, butshall not be limited to:
(1) An account to provide funds to operate and maintain the system;
(2) An account to provide funds to pay principal and interest on thebonds as they come due;
(3) An account to provide an adequate reserve for depreciation, to beexpended for replacements of the system;
(4) An account for the accumulation of a reserve to assure the promptpayment of the bonds and the interest whenever and to the extent that otherfunds are not available for that purpose;
(5) An account to provide funds for contingent expenses in theoperation of the system;
(6) An account to provide for the accumulation of funds for theconstruction of extensions and improvements to the system; and
(7) Such other accounts as may be desirable in the judgment of theboard of trustees.
2. The resolution also may establish such limitations as may beexpedient upon the issuance of additional bonds, payable from the revenuesof the system, or upon the rights of the holders of such additional bonds.Such resolution may include other agreements with the holders of the bondsor covenants or restrictions necessary or desirable to safeguard theinterests of the bondholder and to secure the payment of the bonds and theinterest thereon.
