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<br />I <br /> <br />I <br /> <br />I <br /> <br />. <br /> <br />Section 8,03. Construction Fund. <br /> <br />(a) Money on deposit in the Construction Fund, including investment earnings thereof, shall be <br />used for the purposes specified in Section 3,01 of this Ordinance <br /> <br />(b) All amounts remaining in the Construction Fund after the accomplishment of the purposes <br />for which the Certificates are hereby issued, including investment earnings ofthe Construction Fund, shall <br />be deposited into the Interest and Sinking Fund, unless a change in applicable law permits or authorizes all <br />or any part of such funds to be used for other purposes. <br /> <br />Section 8.04. Security of Funds. <br /> <br />All moneys on deposit in the funds referred to in this Ordinance shall be secured in the manner and <br />to the fullest extent required by the laws of the State of Texas for the security of public funds, and moneys <br />on deposit in such funds shall be used only for the purposes permitted by this Ordinance. <br /> <br />Section 8.05. Deposit of Proceeds. <br /> <br />(a) All amounts received on the Closing Date as accrued interest on the Certificates from the <br />Original Issue Date to the Closing Date, and premium, if any, shall be deposited to the Interest and Sinking <br />Fund. <br /> <br />(b) The remainder of the proceeds of the Certificates shall be deposited to the Construction Fund <br />and used for the purposes specified in Section 3.01 hereof and for paying the costs of issuance with respect <br />to the Certificates. <br /> <br />Section 8.06. Investments. <br /> <br />(a) Money in the funds established by this Ordinance, at the option of the City, may be invested <br />in such securities or obligations as permitted LInder applicable law. <br /> <br />(b) Any seCUrIties or obI igations in wh ich money is so invested shall be kept and held in trust <br />for the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied to the making <br />of all payments required to be made from the fund from which the investment was made. <br /> <br />Section 8.07. Investment Income. <br /> <br />Interest and income derived from investment of any fund created by this Ordinance shall be credited <br />to such fund. <br /> <br />R.ISan MarcoslCO 041DocslOrdinancelCO Ord Final.wpd 23 <br />