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. . . 3.4) The Note shall be prepared under the direction of the City Administrator and shall be executed on behalf of the City by the signatures of the Mayor and City Administrator and be sealed with the seal of the City. When the Note has been so executed, it shall be delivered by the City Administrator to the purchaser thereof upon payment of the purchase price, and the purchaser shall not be required to see to the application of the purchase price. Section 4. Separate Fund for Proceeds. A special fund designated "The General Obligation Tax Increment (Taxable) Note, Series 19920 Fund" (the Fund) is hereby established separate from other funds of the City. A separate account is hereby established within the Fund for improving the Property, which shall be designated the "1992D TIF #10 Project" (the Project Account). The proceeds of the sale of the Note, less the portion constituting capitalized interest, shall be credited to the Project Account which shall be used to reimburse the City for improvement costs previously advanced to the Project and expenses incurred in connection with the issuance of the Note. When such costs and expenses have been paid, the Project Account shall be discontinued and any moneys remaining therein shall be transferred to the debt service account authorized in Section 5 hereof. Section 5. Debt Service Account; Pledg~. A separate account within the Fund is hereby established, designated the "Series 19920 Tax Increment (Taxable) Note Debt Service Account" (the Debt Service Account). All tax increments from the TIF District (the Tax Increment~) are hereby irrevocably appropriated and pledged to the Debt Service Account to the extent necessary to pay principal of and interest on the Note. There is also pledged to such account (a) all taxes, if any, which may at any time be levied for payment of the Note; (b) all funds remaining in the Project Account when it is discontinued as provided in Section 4, above; and capitalized interest in the amount of Forty-three Thousand Seven Hundred Dollars ($43,700). The Debt Service Account shall be used to pay principal and interest on the Note. If moneys in the Debt Service Account should at any time be insufficient to pay principal and interest due on the Note, such amount shall be paid from the general fund of the City, which shall be reimbursed therefor when sufficient money becomes available in the Debt Service Account. Section 6. Tax Pledge. 6.1) It is determined that the estimated collection of Tax Increments, together with capitalized interest, are expected to produce sums at least five percent (5%) in excess of the amount needed to meet when due the principal and interest payments on the Note. The City recognizes and affirms the pledge of the full faith and credit of the City to the payment of the Note. In the event that the Tax Increments do not prove sufficient to 3.