|(a) While class 1 public securities are outstanding,
the association must deposit net premium and other revenue in the
obligation revenue fund at periods and in amounts as required by the
class 1 public security agreements to fund the class 1 payment obligation.
(b) Without limiting other options, the class 1 public
security agreements may include an operating reserve fund. If the
class 1 public securities obligation revenue fund does not contain
sufficient money to pay debt service on the class 1 public securities,
administrative expenses on the class 1 public securities, or other
class 1 public security obligations, the association must transfer
sufficient money from any operating reserve fund or other association
held funds to the obligation revenue fund to make the payment.