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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. (a) Assessable Improvements Account. Proceeds of the Assessable Improvement Bonds, less the appropriations made in Section 4.01(a) hereof, together with any other funds appropriated for the Assessable Improvements and the Assessments and Taxes collected during the construction of the Assessable Improvements, will be deposited in the Assessable Improvements Account of the Construction Fund to be used solely to defray expenses of the Assessable Improvements and the payment of principal of and interest on the Assessable Improvement Bonds prior to the completion and payment of all costs of the Assessable Improvements. Any balance remaining in the Assessable Improvements Account after the Assessable Improvements are completed and the cost thereof have been paid may be used to pay the cost in whole or in part of any other improvement instituted under the Improvement Act under the direction of the City Council or may be used as provided in Minnesota Statutes, section 475.65, under the direction of the City Council. Thereafter, the Assessable Improvements Account of the Construction Fund is to be closed and any balance remaining therein and any subsequent collections of the Assessments and Taxes for the Assessable Improvements are to be deposited in the Assessable Improvements Account of the Debt Service Fund. (b) Water Improvements Account. Proceeds of the Water Improvement Bonds, less the appropriations made in Section 4.01(b) hereof, will be deposited in the Water Improvements Account of the Construction Fund to be used solely to defray expenses of the Water Improvements. Any balance remaining in the Water Improvements Account after the Water Improvements are completed and the cost thereof have been paid may be used as LA515-142-950087.v2