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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />which the generation of those revenues relates. <br />Accordingly, the general dedication of revenues hereinabove <br />to the Debt Service Account shall be subject to such <br />restrictions, and such pledges are hereby limited by such <br />applicable provisions of law and City procedures, without, <br />however, affecting in any way the City's pledge of its full <br />faith and credit and general ad valorem taxing powers to the <br />payment of all of the Bonds, when due. <br /> <br />(2) The Net Revenues shall be used only for the <br />payment of the debt service on the Series 1993B Water <br />Revenue Bonds, and no other monies in the Debt Service <br />Account (except for any tax levies which may hereafter be <br />made for that express purpose) shall be used for payment <br />thereof. <br /> <br />(3) The assessments from Revolving Fund Improvements <br />(including the Assessment Improvements) and the ad valorem <br />taxes imposed herein or hereafter for payment of the Series <br />1993B Improvement Bonds shall not be used for payment of the <br />Series 1993B Water Revenue Bonds. <br /> <br />No portion of the proceeds of the Bonds shall be used <br />directly or indirectly to acquire higher yielding investments or <br />to replace funds which were used directly or indirectly to <br />acquire higher yielding investments, except (1) for a reasonable <br />temporary period until such proceeds are needed for the purpose <br />for which the Bonds were issued and (2) in addition to the above <br />in an amount not greater than the lesser of five percent (5%) of <br />the "issue price" of the Bonds or $100,000. To this effect, any <br />proceeds of the Bonds and any sums from time to time held in the <br />Construction Account or Debt Service Account in excess of amounts <br />which under then-applicable federal arbitrage regulations may be <br />invested without regard to yield shall not be invested at a yield <br />in excess of the applicable yield restrictions imposed by said <br />arbitrage regulations on such investments after taking into <br />account any applicable "temporary periods" or "minor portion" <br />made available under the federal arbitrage regulations. Money in <br />the Fund shall not be invested in obligations or deposits issued <br />by, guaranteed by or insured by the United States or any agency <br />or instrumentality thereof if and to the extent that such <br />investment would cause the Bonds or any Additional Bonds to be <br />"federally guaranteed" within the meaning of Section 149(b) of <br />the federal Internal Revenue Code of 1986, as amended (the <br />"Code"). <br /> <br />246005 <br /> <br />20 <br />