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<br />SectIOn 8 02 Interest and Smkmg Fund. <br /> <br />(a) The taxes levied and revenues pledged under Article II shall be deposited to the credit of the <br />Interest and Smkmg Fund at such tlmes and m such amounts as necessary for the tlmely payment of the <br />principal of and interest on the Certificates <br /> <br />(b) The proceeds of the Certificates representmg capltahzed mterest on the Certificates shall be <br />deposited to the credit of the Interest and Smkmg Fund for the payment of mterest on the Certificates <br /> <br />(c) Money on depOSit m the Interest and Smkmg Fund shall be used to pay the prinCipal of and <br />mterest on the Certificates as such become due and payable <br /> <br />SectIOn 803 Construction Fund. <br /> <br />(a) Money on depOSit m the Construction Fund, mcludmg mvestment earnmgs thereof, shall be <br />used for the purposes specified m SectIOn 3 0 I of thiS Ordmance <br /> <br />(b) All amounts remaining m the ConstructIOn Fund after the accomphshment of the purposes for <br />which the Certificates are hereby Issued, mcludmg mvestment earnmgs of the ConstructIOn Fund, shall be <br />deposited mto the Interest and Slnkmg Fund, unless a change m apphcable law permits or authonzes all or any <br />part of such funds to be used for other purposes <br /> <br />SectIOn 8 04 Secuntv of Funds <br /> <br />All moneys on depOSit m the funds referred to m thiS Ordmance shall be secured m the manner and to <br />the fullest extent required by the laws of the State of Texas for the secunty of pubhc funds, and moneys on <br />depOSit in such funds shall be used only for the purposes permitted by thiS Ordmance <br /> <br />SectIOn 8 05 DepOSIt of Proceeds <br /> <br />(a) All amounts received on the Closmg Date as accrued mterest on the Certificates from the <br />Ongmal Issue Date to the Closing Date, and premIUm, If any, and capltahzed mterest on the Certificates shall <br />be deposited to the Interest and Slnkmg Fund. <br /> <br />(b) The remamder of the proceeds of the Certificates shall be deposIted to the ConstructIOn Fund <br />and used for the purposes speCified m SectIOn 3 0 I hereof and for paymg the costs of Issuance With respect to <br />the Certificates <br /> <br />SectIOn 8 06 Investments <br /> <br />(a) Money m the funds estabhshed by thiS Ordmance, at the option of the City, may be mvested <br />m such securities or obhgatIOns as permitted under apphcable law <br /> <br />(b) Any secuntles or obhgatIOns m which money is so mvested shall be kept and held m trust for <br />the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied to the makmg of <br />all payments reqUIred to be made from the fund from which the investment was made <br /> <br />SilIl Marcos C1RCO 2007' OrdinilIlce <br /> <br />24 <br />