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(ii) the City of San Marcos, Texas, Combination Tax and Revenue Certificates of <br />Obligation, Series 2011, Construction Fund (the "Construction Fund "). <br />(b) The Interest and Sinking Fund and the Construction Fund shall be maintained at an <br />official depository of the City. <br />Section 8.02. Interest and Sinking Fund. <br />(a) The taxes levied and revenues pledged under Article II shall be deposited to the credit <br />of the Interest and Sinking Fund at such times and in such amounts as necessary for the timely <br />payment of the principal of and interest on the Certificates. <br />(b) The proceeds ofthe Certificates representing accrued interest on the Certificates shall <br />be deposited to the credit of the Interest and Sinking Fund for the payment of interest on the <br />Certificates. <br />(c) Money on deposit in the Interest and Sinking Fund shall be used to pay the principal <br />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 thereof, <br />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, unless a change in <br />applicable law, as evidenced by an opinion of bond counsel, permits or authorizes all or any part of <br />such funds to be used for other purposes. <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 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 />(a) All amounts received on the Closing Date as accrued interest on the Certificates from <br />the Original Issue Date to the Closing Date, on the Certificates shall be deposited to the Interest and <br />Sinking Fund. <br />San Marcos CTRCO 2011 : Ordinance 27 <br />