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<br />(iii) third, the sum of $186,382.00 shall be used to pay the costs <br />and expenses pertaining to the issuance of the Bonds (including Municipal <br />Bond Insurance Premium and other costs of issuance) as directed by the City, <br />acting through the Mayor. <br /> <br />To the extent necessary to accomplish fully the purposes of this Ordinance, <br />the Mayor is authorized to reallocate the funds herein directed to be used for the <br />purposes specified above. <br /> <br />Section 7.04. Interest and Sinking Fund. <br /> <br />(a) The taxes levied under Section 2.01 of this Ordinance and the Surplus <br />Revenues shall be deposited to the credit of the Interest and Sinking Fund at such <br />times and in such amounts as necessary for the timely payment of the principal of <br />and interest on the Bonds. <br /> <br />(b) If the amount of money in the Interest and Sinking Fund is at least <br />equal to the aggregate principal amount of the outstanding Bonds plus the aggregate <br />amount of interest due and that will become due and payable on such Bonds, no <br />further deposits to that fund need be made. In determining the aggregate principal <br />amount of outstanding Bonds, there shall be subtracted the amount of any Bonds <br />that have been duly called for redemption and for which money has been deposited <br />with the Paying Agent/Registrar for such redemption. <br /> <br />(c) Money on deposit in the Interest and Sinking Fund shall be used to pay <br />the principal of and interest on the Bonds as such become due and payable. <br /> <br />ARTICLE VIII <br /> <br />INVESTMENTS <br /> <br />Section 8.01. Investments. <br /> <br />(a) Money in each fund created by this Ordinance, at the option of the <br />City, may be invested in such securities or obligations as permitted under applicable <br />law; provided, however, that moneys in the Escrow Fund shall be invested and <br />applied in accordance with the provisions of the Escrow Agreement. <br /> <br />(b) Any securities or obligations in which money is so invested shall be <br />kept and held in trust for the benefit of the Bondholders and shall be sold and the <br />proceeds of sale shall be timely applied to the making of all payments required to be <br />made from the fund from which the investment was made. <br /> <br />(c) The money in the Escrow Fund established pursuant to this Ordinance <br />shall not be invested in securities or obligations that have a "higher yield," within <br />the meaning of Section 148 of the Code, than the yield on the Bonds. <br /> <br />1659f <br /> <br />-23- <br />