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• Council directs the bonds to be payable from the fund . <br /> 215. 03 Improvement. A separate improvement fund will al o be created <br /> in accordance with Minn. Stat. , §429 . 091 , for each imp vement or <br /> consolidated group of improvements to be financed by he improvement <br /> bonds, which funds to be designated as "Fund for improvement No. <br /> the name and number of each of the improve nts to be inserted in <br /> the name of each fund. The proceeds of sale f such bonds issued to <br /> finance improvements will be paid into the unds for the improvements <br /> for which they are issued respectively, gether with all collections <br /> of special assessments and taxes levie for paying the costs of each <br /> such improvement, including principa and interest, if any, becoming <br /> due on the bonds, until construct ' n of the improvement is completed <br /> •� and the cost of the improvement is paid in full . Thereafter , the fund <br /> will be discontinued , and any balance of bond proceeds remaining may <br /> be transferred to the fund f another improvement , if so directed by <br /> the Council, or transfer ed to any other fund as may be permitted by <br /> law, but all moneys n transferred to another improvement will be <br /> paid into the impro ement bond redemption fund created in Subsection <br /> 215 . 01 of this S tion. All subsequent collections of special <br /> assessments an taxes levied for the payment of the costs of the <br /> improvements, and any other moneys subsequently appropriated thereto <br /> by the Co ncil, will be paid into the improvement bond redemption <br /> fund . <br /> 2 . 04 Proceeds of Sale of Refunding Bonds . The proceeds of sale of <br /> 2 - 13 <br />