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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 manner <br />and to the fullest extent required by the laws of the State of Texas for the security of public funds, <br />and moneys on deposit in such funds shall be used only for the purposes permitted by this Ordinance. <br />Section 8.05. Deposit of Proceeds. <br />The proceeds of the Certificate shall be deposited to the Construction Fund and used for the <br />purposes specified in Section 3.01 hereof and for paying the costs of issuance with respect to the <br />Certificate. <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 Certificate. <br />While the Certificate is outstanding and unpaid, there shall be made available to the Paying <br />Agent/Registrar, out ofthe Interest and Sinking Fund, money sufficient to pay the interest on and the <br />principal ofthe Certificate, as applicable, as will accrue or mature on each applicable Interest Payment <br />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 promptly <br />pay or cause to be paid the principal of, interest on, and premium, if any, with respect to, each <br />Certificate on the dates and at the places and manner prescribed in such Certificate; and the City will, <br />San Marcos CTRCO 2008A: Ordinance 25