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29 <br /> Payment Fund and then apply those moneys to Bond payments as directed by a <br /> County Representative. In the absence of any direction from the County, the Trustee <br /> will deposit those moneys in the Interest Account and use them to pay interest on <br /> the 2023 Bonds as the same becomes due. <br /> Section 3.04. Creation of Accounts in Payment Fund. (a) The Trustee shall <br /> establish, in the 2021 Bond Payment Fund established under the Prior Agreement, <br /> three special accounts to be designated as the "2023 Interest Account," the "2023 <br /> Principal Account" and the "2023 Redemption Account." The Trustee shall keep <br /> these accounts separate and apart from all other funds and moneys held by it, and <br /> must hold and administer the same as provided below. The Trustee must deposit in <br /> the proper account in the Payment Fund all amounts paid to it for deposit in the <br /> Payment Fund, including all amounts paid to it by the County for payments on <br /> Bonds. <br /> (b) Not less than 15 days prior to each Payment Date for the 2023 Bonds, <br /> the Trustee must determine the amounts on deposit and available to make the <br /> payments due on that Payment Date with respect to the 2023 Bonds, whether in (i) <br /> the 2023 Interest Account or the 2023 Principal Account of the Payment Fund, or <br /> (ii) any special trust fund established pursuant to Section 11.01 of the Prior <br /> Agreement. The Trustee must notify the County of the available amounts not less <br /> than 10 days prior to the applicable Payment Date. The County's obligation to make <br /> payments with respect to any Payment Date is reduced by the available amounts the <br /> Trustee determines. <br /> (c) The Trustee must pay the principal of the 2023 Bonds from the 2023 <br /> Principal Account and the interest on the 2023 Bonds from the 2023 Interest <br /> Account, as the same become due. On or before each Payment Date, the Trustee <br /> must first determine if it has on hand amounts sufficient to pay the principal and <br /> interest coming due on the Bonds on the Payment Date. Then, the Trustee must set <br /> aside an amount sufficient to pay the interest on the Bonds becoming due and <br /> payable on that Payment Date, and then an amount sufficient to pay the principal on <br /> the Bonds becoming due and payable on that Payment Date. The Trustee must then <br /> transfer on the Payment Date the amounts due to the registered owner of the Bonds. <br /> (d) If the amount on deposit in the 2023 Principal Account or the 2023 <br /> Interest Account is insufficient for its purposes two Business Days before any <br /> 11 <br />