Section 3. The Board (a) covenants to fix, revise,
charge and collect Student Health Fees for or in connection with
the use or services of the Student Health Project, and (b)
pledges such Fees to the payment of the principal of, premium, if
any, and interest on that portion of the Bonds issued to finance
the Student Health Project; provided that the current expenses of
operating the Student Health Project (the "Student Health Current
Expenses") shall be a first charge on such Fees. The Board
further covenants that such Fees will be fixed, revised, charged
and collected so that the net revenues therefrom, after payment
of the Student Health Current Expenses, will at all times be
sufficient to pay the principal of, premium, if any, and interest
on that portion of the Bonds issued to finance the Student Health
Project as and when the same become due, and to pay debt service
on any outstanding obligations, if any, that have been previously
issued to provide funds for student health facilities, that
portion of the Bonds issued to finance the Student Health Project
to be secured on a parity with such obligations. Any such
revenues in excess of the amounts required for the payment of the
Student Health Current Expenses, the payment of the principal of,
premium, if any, and interest on that portion of the Bonds issued
to finance the Student Health Project when due, and debt service
on any outstanding obligations issued to provide funds for
student health facilities may be used by the University for any
other proper purpose.
