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authentication on different Bonds need not be signed by the same representative. <br /> • The executed certificate of authentication on each Bond shall be conclusive evidence <br /> that it has been authenticated and delivered under this resolution. When the <br /> Bonds have been so executed and authenticated, they shall be delivered by the City <br /> Finance Director to the Purchaser upon payment of the purchase price in accordance <br /> with the contract of sale heretofore made and executed, and the Purchaser shall not <br /> be obligated to see to the application of the purchase price. <br /> Section 4. Use of Proceeds and Security Provisions. <br /> Section 4.01. Use of Proceeds and Escrow Account. The proceeds of the <br /> Bonds in the amount of $ 213,065 together with investment income thereon, <br /> are irrevocably appropriated for the payment and redemption on February 1, 1994 of <br /> the principal amount of the Refunded Bonds. Until applied for such purpose such <br /> funds shall be held by the City in a separate escrow account. The accrued interest on <br /> the Bonds shall be deposited in the Sinking Fund created pursuant to Section 4.02 <br /> hereof. <br /> Section 4.02. General Obligation Tax Increment Refunding Bond <br /> Sinking Fund. The Bonds shall be payable from a separate Series 1994A General <br /> Obligation Tax Increment Refunding Bond Sinking Fund (the Sinking Fund) which <br /> shall be created and maintained on the books of the City as a separate debt service <br /> fund until the Bonds, and all interest thereon, are fully paid. There shall be credited <br /> to the Sinking Fund the following: <br /> (a) Any amount initially deposited therein pursuant to Section 4.01 <br /> hereof. <br /> (b) All taxes levied and all other money which may at any time be <br /> received for or appropriated to the payment of the principal of or interest on the <br /> Bonds, including the tax increments herein pledged and appropriated to the Sinking <br /> Fund and all collections of any ad valorem taxes levied for the payment of the <br /> Bonds. <br /> (c) Any other funds appropriated by the Council for the payment of the <br /> Bonds. <br /> 4.03. Pledge of Tax Increment. Tax increment derived from the District <br /> is hereby irrevocably pledged to the payment of the principal of and interest on the <br /> Bonds. The HRA and the City have entered into a Pledge Agreement whereby the <br /> HRA has pledged and appropriated tax increment from the District to pay the bonds <br /> of the City payable from such tax increment. <br /> • -11- <br />