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e e e discharging its obligations with respect to the application of any of such tax increments pursuant to this Resolution, the City expressly reserves the right to pledge or otherwise dedicate the Available Tax Increments to purposes other than the discharge of the obligations described herein upon a finding by the City that the estimated Available Tax Increments then remaining will be sufficient from year to year for such purposes; and (2) the pledge of Available Tax Increments made in this Resolution is in all cases subject and junior in lien to all unpaid pledges or other outstanding commitments heretofore made by the City with respect to the expenditure or dedication of such tax increments. The Council hereby finds that the Available Tax Increments will be available, if and as needed to pay debt service on the Bonds, in the aggregate amount not less than 20% of the cost of the Improvements. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued and (2) in addition to the above in an amount not greater than the lesser of five percent (5%) of the "issue price" of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Capital Account or Debt Service Account in excess of amounts which under then-applicable federal arbitrage regulations may be invested without regard to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. Money in the Fund shall not be invested in obligations or deposits issued by, guaranteed by or insured by the united States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section 149(b) of the federal Internal Revenue Code of 1986, as amended (the "Code"). 17. Tax ~evies. To provide moneys for payment of the principal of and interest on the Bonds there is hereby levied upon all of the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and 266467.1 16