Official Statement Airport Commission City and County of San ...

The Trustee or the Paying Agent, as the case may be, may commingle any moneys held by it
under the 1991 Master Resolution for any Series of Variable Rate Bonds, except moneys derived from a Draw under
a Credit Facility or Liquidity Facility and amounts held in a Series Remarketing Proceeds Account, and Series
Credit Facility or Liquidity Facility Purchase Account, each of which shall be held separate and apart of all other
Funds and Accounts and not commingled with any other Funds or Accounts or investments of moneys therein.
Deposits of Net Revenues in Series 2010A Debt Service Accounts
The Supplemental Resolutions require the Treasurer to allocate and transfer to the Trustee for deposit
in the Series 2010A Debt Service Accounts amounts from Net Revenues, as follows:
Series 2010A Purchase Account
(a) With respect to 2010A Bonds in a Weekly Mode, and any Interest Rate Swaps payable
from a Series Interest Account with forty (40) days or less between regularly scheduled
payment dates, Net Revenues and any Swap Receipts shall be deposited into the applicable
Series Interest Accounts on or before the Interest Payment Dates for 2010A Bonds in such
Mode and the regularly scheduled payment dates for any such Interest Rate Swaps.
(b) In the Series 2010A Principal Account, in approximately equal monthly installments,
commencing on the second Business Day of the month determined pursuant to a Series Sale
Resolution or Bond Purchase Contract, an amount equal to at least one twelfth (1/12) of the
aggregate Principal Amount becoming due and payable on any Outstanding serial 2010A
Bonds of such Series on the next succeeding Principal Payment Date, until there shall have
been accumulated in the Series 2010A Principal Account for such 2010A Bonds an amount
sufficient to pay the Principal Amount of all serial 2010A Bonds of such Series maturing by
their terms on the next Principal Payment Date.
(c) The Treasurer shall also transfer to the Trustee for deposit in the Series 2010A Principal
Account for each Series, in approximately equal monthly installments, commencing on or
before the second Business Day of the month determined pursuant to a Series Sale
Resolution or Bond Purchase Contract, prior to the first Mandatory Sinking Fund
Redemption Date, an amount equal to at least one twelfth (1/12) of the Mandatory Sinking
Fund Payment required to be made pursuant to a Series Sale Resolution for such Series on
the next succeeding Mandatory Sinking Fund Redemption Date, as such Mandatory
Sinking Fund Payments and Mandatory Sinking Fund Redemption Dates may be set forth
in a Series Sale Resolution or Bond Purchase Contract for such Series.
The Supplemental Resolutions further require the Trustee to establish and hold separate accounts
within the Purchase Fund designated as the Series 2010A Remarketing Proceeds Account and the Series 2010A
Credit Facility Purchase Account.
Upon receipt of the proceeds of a remarketing of 2010A Bonds, the Paying Agent shall deposit
such proceeds in the Series 2010A Remarketing Proceeds Account for application to the Purchase Price of such
2010A Bonds. Notwithstanding the foregoing, upon the receipt of the proceeds of a remarketing of Credit Provider
Bonds, the Paying Agent shall immediately pay such proceeds to the Credit Provider, as the case may be, to the
extent of any amount owing to such Credit Provider.
Credit Provider Bonds shall remain Outstanding in the hands of the Credit Provider until the
Credit Provider is paid all amounts due with respect to such 2010A Bonds in accordance with the Credit Facility.
Furthermore, 2010A Bonds, the principal of which was paid with proceeds of a Draw on a Credit Facility, which
Draw has not been reimbursed, shall remain Outstanding until the Credit Provider is reimbursed in full for such
Draw.
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