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ARTICLE VIII <br /> CREATION OR CONFIRMATION OF CREATION OF FUNDS AND ACCOUNTS; <br /> DEPOSIT OF PROCEEDS; INVESTMENTS <br /> Section 8.01. Creation of Funds. <br /> (a) The City hereby establishes or confirms the establishment of the following special <br /> funds or accounts and the Pricing Officer is hereby authorized to complete such fund or account <br /> names with the appropriate series designation for each Series of Bonds: <br /> (i) the City of San Marcos, Texas, Combination Tax and Revenue Certificates <br /> of Obligation, Series f 1, Interest and Sinking Fund (the "Interest and Sinking <br /> Fund"). <br /> (ii) the City of San Marcos, Texas, Combination Tax and Revenue Certificates <br /> of Obligation, Series I I, Construction Fund (the "Construction Fund"). <br /> (b) The Interest and Sinking Fund and the Construction Fund shall be maintained at <br /> an official depository of the City. <br /> Section 8.02. Interest and Sinking Fund. <br /> (a) The taxes levied and surplus revenues pledged under Article II shall be deposited <br /> to the credit of the Interest and Sinking Fund at such times and in such amounts as necessary for <br /> the timely payment of the principal of and interest on the Certificates. <br /> (b) Money on deposit in the Interest and Sinking Fund shall be used to pay the <br /> principal of and interest on the Certificates as such become due and payable. <br /> Section 8.03. Construction Fund. <br /> (a) Money on deposit in the Construction Fund, including investment earnings <br /> thereof, shall be used for the purposes specified in Section 3.01 of this Ordinance. <br /> (b) All amounts remaining in the Construction Fund after the accomplishment of the <br /> purposes for which the Certificates are hereby issued, including investment earnings of the <br /> Construction Fund, shall be deposited into the Interest and Sinking Fund. <br /> Section 8.04. Security of Funds. <br /> All moneys on deposit in the funds referred to in this Ordinance shall be secured in the <br /> manner and to the fullest extent required by the laws of the State of Texas for the security of <br /> public funds, and moneys on deposit in such funds shall be used only for the purposes permitted <br /> by this Ordinance. <br /> 2 <br /> SAV MARCOS CTRCO@CAB!OIB Ordinance <br />