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• (other than any special assessments) may be transferred by the <br />,~ Council to the fund of any other improvement instituted <br />pursuant to Minnesota Statutes, Chapter 429; and provided <br />further that any special assessments credited to the <br />• ~ Construction Account are hereby pledged and shall be used only <br />to pay principal and interest due-an the bonds. There is <br />hereby pledged and there shall be credited to the Debt Service <br />Account (a) all collections of special assessments herein <br />covenanted to be levied and either initially credited to the <br />Construction Account and required to pay any principal and in- <br />terest due on the bonds or collected subsequent to the com- <br />pletion of the improvements and payment of the costs thereof; <br />(b) all accrued interest received upon. delivery of the bonds, <br />(c) all funds paid for the bonds in excess of $220,600, (d) <br />capitalized interest in the amount of $6,703.12 (subject to <br />such adjustments as are appropriate to provide sufficient funds <br />to pay interest due on the bonds on or before September 1, <br />1982), (e) surplus monies in the state-aid road fund of the <br />City which are hereby pledged for the payment of the bonds <br />- .issued hereunder, (f) any collections of all taxes which may <br />hereafter be levied in the event that the state-aid monies and <br />special assessments herein pledged to the payment of the <br />principal and interest on the bonds are insufficient therefor; <br />and (g) all funds remaining in the Construction Account after <br />completion of the improvements and payment of the costs <br />thereof, not so transferred to the account of another <br />improvement. The Debt Service Account herein created shall be <br />used solely to pay the principal and interest and any premiums <br />- for redemption of the bonds issued hereunder and any other <br />general obligation bonds of the City hereafter issued by the <br />• City and made payable from said account as provided by law. <br />Any sums from time to time held in the Debt Service Account (or <br />any other City account which will be used to pay principal or <br />interest to become due on the bonds) in excess of amounts which <br />under the applicable federal arbitrage regulations may be <br />invested without regard as to yield shall not be invested at a <br />yield in excess of the applicable, yield restrictions imposed by <br />said arbitrage regulations on such investments. <br />10. It is hereby determined that no less than 20% of <br />the cost to the City of each improvement financed hereunder <br />within the meaning of Minnesota Statutes, Section 475.58, <br />Subdivision 1(3) shall be paid by special assessments to be <br />levied against every assessable lot, piece and parcel of land <br />• <br />- _. ._ _. - <br />