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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 public <br />funds, and moneys on deposit in such funds shall be used only for the purposes permitted by this <br />Ordinance. <br /> Section 8.05. Deposit of Proceeds. <br /> All of the proceeds of the Certificates, including the net original issue premium, shall be <br />deposited to the Construction Fund and used for the purposes specified in Section 3.01 hereof and <br />for paying the costs of issuance with respect to the Certificates. <br /> Section 8.06. Investments. <br /> (a) Money in the funds established by this Ordinance, at the option of the City, may be <br />invested in such securities or obligations as permitted under applicable law. <br /> (b) Any securities or obligations in which money is so invested shall be kept and held in <br />trust for the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied <br />to the making of all payments required to be made from the fund from which the investment was <br />made. <br /> Section 8.07. Investment Income. <br /> Interest and income derived from investment of any fund created by this Ordinance shall be <br />credited to such fund. <br />ARTICLE IX <br />PARTICULAR REPRESENTATIONS AND COVENANTS <br /> Section 9.01. Payment of the Certificates. <br /> While any of the Certificates are outstanding and unpaid, there shall be made available to <br />the Paying Agent/Registrar, out of the Interest and Sinking Fund, money sufficient to pay the <br />interest on and the principal of the Certificates, as applicable, as will accrue or mature on each <br />applicable Interest Payment Date. <br /> Section 9.02. Other Representations and Covenants. <br /> (a) The City will faithfully perform at all times any and all covenants, undertakings, <br />stipulations, and provisions contained in this Ordinance and in each Certificate; the City will <br />promptly pay or cause to be paid the principal of, interest on, and premium, if any, with respect to, <br />each Certificate on the dates and at the places and manner prescribed in such Certificate; and the <br />City will, at the times and in the manner prescribed by this Ordinance, deposit or cause to be <br />deposited the amounts of money specified by this Ordinance. <br />32 <br />San Marcos CTRCO 2021A: Ordinance <br /> <br />