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Section 8.03. Construction Fund. <br />(a) Money on deposit in the Construction Fund, including investment earnings thereof, shall be <br />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 purposes for <br />which the Certificates are hereby issued, including investment earnings of the Construction Fund, shall be <br />deposited into the Interest and Sinking Fund, unless a change in applicable law, as evidenced by an opinion of <br />bond counsel, permits or authorizes all or any part of 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 and to <br />the fullest extent required by the laws of the State of Texas for the security of public funds, and moneys on <br />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 the <br />Original Issue Date to the Closing Date, and premium, if any, on the Certificates shall be deposited to the <br />Interest and Sinking Fund. <br />(b) The remainder of the proceeds of the Certificates shall be deposited to the Construction Fund <br />and used for the purposes specified in Section 3.01 hereof and for paying the costs of issuance with respect to <br />the Certificates. <br />Section 8,06. Investments. <br />(a) Money m the funds established by this Ordinance, at the option of the City, may be invested <br />in such securities or obligations as permitted under applicable law. <br />(b) Any secunties or obligations in which money is so invested shall be kept and held in trust for <br />the benefit of the Owners and shall be sold and the proceeds of sale shall be timely applied to the making of <br />all payments required to be made from the fund from which the investment was made. <br />Section 8.07, Investment Income <br />Interest and income derived from investment of any fund created by this Ordinance shall be credited <br />to such fund, <br />San Marcos CTRCO 20078: Ordinance <br />