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C <br /> ( ** Note to City: Is this whole section necessary since it ' s governed <br /> by statute? **) <br /> Section 215 - IMPROVEMENT BOND REDE TION FUND <br /> 215. 01 Creation of Bond Redemption Fund A separate and special <br /> debt redemption fund designated as th improvement bond redemption <br /> fund will be maintained on the offi al books and returns of the <br /> City and administered by the City reasurer in accordance with the <br /> provisions of this Section so 1 ng as any improvement bonds <br /> hereafter issued and made pa ble from the fund, as provided in <br /> Subsection 215 . 02 of this ction, are outstanding and unpaid. • <br /> 215 . 02 Administration of Debt Redemption Fund. The fund will be <br /> administered as a si ing fund in accordance with Minn. Stat. 5475. 66 <br /> and will be used s ely for the payment of principal and interest on <br /> general obligati n improvement bonds hereafter issued under the <br /> provisions of inn. Stat . , Chap. 429 , as amended or supplemented <br /> for the purp se of financing improvements instituted under Chapter <br /> 429, in a icipation of collecting special assessments and ad valorem <br /> taxes 1 ied or to be levied to pay the cost of such improvements, or <br /> for t e purpose of refunding any temporary improvement bonds issued <br /> and r the provisions of Chapter 429, or for both purposes, when the <br /> 2 - 12 • <br />