(e) expenses of administration properly chargeable to the Series A
Hospital Project, as the case may be, legal expenses and fees, fees and
expenses of consultants, financing charges (including interest on the Series A
Bonds during construction of the Series A Hospital Project and credit facility
agreement fees), cost of audits and of preparing and issuing the Series A
Bonds, and all other items of expense not elsewhere in this Section specified
incident to the construction and equipping of the Series A Hospital Project, as
the case may be, and the placing of the Series A Hospital Project in operation;
(f) any obligation or expenses heretofore or hereafter incurred by
the Board or by any other agency of the Commonwealth in connection with the
Series A Hospital Project or, as the case may be, for any of the foregoing
ARTICLE V. FUNDS AND ACCOUNTS; INVESTMENTS.
Section 5.01. Creation of Debt Service Reserve Account.
There is hereby established with the Trustee a special fund in the
Debt Service Reserve Account of the Bond Fund designated "University of
Kentucky. Hospital Revenue Bonds (Series A) Reserve Account" (the "Reserve
Account"), which special fund shall consist of two subaccounts designated
"Equity Subaccount" and "Proceeds Subaccount", respectively.
The moneys in each of said subaccounts shall be held and applied as
hereinafter provided and, pending such application, shall be subject to a lien
in favor of the Owners of the Series A Bonds and for the further security of
such Owners until paid out or transferred as herein provided.
Section 5.02. Flow of Funds.
The Board shall cause to have filed with the State Treasurer, in
sufficient time to enable the State Treasurer to make the withdrawals from the
Revenue Fund and to make the deposits required by this Section, a requisition
of the Board, specifying the amount required for the various purposes herein-
after set forth. Notwithstanding the provisions of the Master Resolution, it
shall be the duty of the State Treasurer, upon receipt of such requisition to
withdraw from the Revenue Fund on deposit with the State Treasurer so much of
the money on deposit therein as is required to make the deposits hereinafter
required and to deposit the sum so withdrawn with the Trustee to the credit of
the following accounts in the following order:
(a) beginning on the fifth Business Day prior to February 1, 1987,
and on the fifth Business Day prior to each Interest Payment Date thereafter,
to the credit of the Interest Account, that amount which, together with the
amount then on deposit therein, shall be equal to the interest payable on the
Outstanding Series A Bonds on the next ensuing Interest Payment Date;
(b) beginning on the fifth Business Day prior to August 1, 1990,
and on the fifth Business Day preceding each August 1 thereafter, to the credit