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LA515-142-950087.v1 the Purchaser, to the extent designated for deposit in the Debt Service Fund in accordance with Section 2.03 hereof; (iv) all investment earnings on amounts in the Assessable Improvements Account of the Debt Service Fund; and (v) any other funds appropriated for the payment of principal or interest on the Assessable Improvement Bonds. The Finance Director must report to the City Council any current or anticipated deficiency in the Assessable Improvements Account in the amount necessary to pay principal of and interest on all of the Assessable Improvement Bonds when due. If a payment of principal or interest on the Assessable Improvement Bonds becomes due when there is not sufficient money in the Assessable Improvements Account in the Debt Service Fund to pay the same, the City Finance Director is directed to pay such principal or interest from the general fund of the City, and the general fund will be reimbursed for the advances out of the proceeds of Taxes and Assessments when collected. (b) Water Improvements Account. The City will continue to maintain and operate its water utility fund, to which will be credited all gross revenues of the water utility system (the “Water System”), and out of which will be paid all normal and reasonable expenses of current operations of such system. Any balances therein are deemed net revenues (the “Water Net Revenues”) and will be transferred, from time to time, to the Water Improvement Account of the Debt Service Fund in an amount sufficient to pay the principal of and interest on the Water Improvement Bonds, which Water Improvements Account will be used only to pay principal of and interest on the Water Improvement Bonds, and any other bonds similarly authorized. There is also appropriated to the Water Improvements Account (i) a pro rata portion of any amount over the minimum purchase price paid by the Purchaser, to the extent designated for deposit in the Debt Service Fund in accordance with Section 2.03 hereof; (ii) all investment earnings on funds in the Water Improvements Account; any collections of taxes hereafter levied for the payment of the Water Improvement Bonds and interest thereon; and (iii) any and all other moneys which are properly available and are appropriated by the City Council to the Water Improvements Account. The Finance Director must report to the City Council any current or anticipated deficiency in the Water Improvements Account or in the availability of Water Net Revenues to pay principal of and interest on all of the Water Improvement Bonds and any other bonds similarly authorized when due. If a payment of principal or interest on the Water Improvement Bonds becomes due when there is not sufficient money in the Water Improvements Account in the Debt Service Fund to pay the same, the City Finance Director is directed to pay such principal or interest from the general fund of the City, and the general fund will be reimbursed for the advances out of the proceeds of Water Net Revenues and taxes when collected. 4.02. Construction Fund. The City hereby creates the General Obligation Improvement and Water Revenue Bonds, Series 2024A Construction Fund (the “Construction Fund”) to be administered and maintained by the Finance Director as a bookkeeping account separate and apart from all other funds maintained in the official financial records of the City. The City will maintain the following accounts in the Construction Fund: the “Assessable Improvements Account,” and the “Water Improvements Account.” Amounts in the Assessable Improvements Account will be used to construct the Assessable Improvements and amounts in the Water Improvements Account will be used to construct the Water Improvements.