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modifications or additions thereto) <br />Fund, and t'ne interest thereon, have <br />• shall be maintained in the Fund two <br />designated the "Capital Account" and <br />Account", respectively. <br />and made payable from the <br />been fully paid. There <br />separate accounts, to be <br />the "Debt Service <br />(i) Capital Account. The proceeds of the <br />sale of the Bonds herein authorized, less any <br />accrued interest received thereon, and less any <br />amount paid for the Bonds in excess of $733,825, <br />and less capitalized interest in the amount of <br />$137,450 (together with interest earnings thereon <br />and subject to such other adjustments as are <br />appropriate to provide sufficient funds to pay <br />interest due on the Bonds on or before March 1, <br />1988), shall be credited to the Capital Account, <br />from which there shall be paid all costs and <br />expenses of the Project, including the cost of any <br />construction contracts heretofore let and all <br />other costs incurred and to be incurred of the <br />kind authorized in Minnesota Statutes, Section <br />475.65; and the moneys in said account shall be <br />used for no other purpose except as otherwise <br />provided by law; provided that the Bond proceeds <br />may also be used to the extent necessary to pay <br />interest on the Bonds due prior to the anticipated <br />date of commencement of the collection of taxes <br />• herein levied or covenanted to be levied and the <br />receipt of tax increments. <br />(ii) Debt Service Account. There is hereby <br />pledged and there shall be credited to the Debt <br />Service Account (a) all accrued interest received <br />upon delivery of the Bonds; (b) all funds paid for <br />the Bonds in excess of $733,825; (c) capitalized <br />interest in the amount of $137,450 (together with <br />interest earnings thereon and subject to such <br />other adjustments as are appropriate to provide <br />sufficient funds to pay interest due on the Bonds <br />on or before March 1, 1988); (d) collection of all <br />of the tax increments (the "Tax Increments") to be <br />received from the Tax Increment District for the <br />payment of the principal of and the interest on <br />the Bonds, subject to the right of the City to <br />pledge or apply the Tax Increments to the payment <br />of any ot'ner public costs of redevelopment of the <br />Development District, as it may be from time to <br />time modified, including debt service on any <br />• 16 <br />