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<br />. <br /> <br />. <br /> <br />. <br /> <br />the Fund designated the "Series 1989A Fire Equipment Bonds <br />Purchase Account." The proceeds of the sale of the Bonds, less <br />any accrued interest and unused discount, shall be credited to <br />the Series 1989A Fire Equipment Bonds Purchase Account. From <br />such account shall be paid all costs and expenses related to <br />the purchase of the Equipment; provided, that the moneys in <br />such account may also be used to the extent necessary to pay <br />interest or principal due on the Bonds prior to the <br />commencement of the collection of taxes levied or to be levied <br />for the purpose of paying the principal and interest due upon <br />the Bonds. The moneys in such account shall be used for no <br />other purpose, except as otherwise permitted by law, prior to <br />the payment of all costs of the Equipment purchase. If upon <br />payment in full of the Equipment purchase costs there shall <br />remain any unexpended balance in such account, such account <br />shall be discontinued and any money remaining in such account <br />shall be transferred to the separate account in the Common Debt <br />Service Account of the City authorized in Section 4.01 hereof. <br /> <br />Section 4. Sinking Fund and Tax Levies. <br /> <br />4.01. Debt Service Account. A separate account within the <br />Fund is hereby established, designated the "Series 1989A Fire <br />Equipment Bond Debt Service Account." There is hereby pledged <br />and there shall be credited to such separate account (a) all <br />accrued interest received from the purchaser of the Bonds; <br />(b) all taxes levied for paYment of the Bonds; (c) all funds <br />remaining in the Series 1989A Fire Equipment Bonds Purchase <br />Account after paYment of the costs of purchasing the Equipment; <br />and (d) any unused discount. Such separate account shall be <br />used solely to pay principal and interest on the Bonds and any <br />other general obligation bonds of the Issuer heretofore or <br />hereafter issued by the Issuer and made payable from such <br />separate account as permitted by law. If moneys in such <br />separate account should at any time be insufficient to pay <br />principal and interest due on the Bonds, such amount shall be <br />paid from the general fund of the Issuer, which shall be <br />reimbursed therefor when sufficient money becomes available in <br />such separate account. Any sums from time to time held in such <br />separate account (or any other fund of the Issuer which will be <br />used to pay principal or interest to become due on the Bonds) <br />in excess of amounts which under Section 148 of the Internal <br />Revenue Code (the Code), may be invested without regard to <br />yield, shall not be invested at a yield in excess of applicable <br />yield restrictions imposed by such provisions of the Code and <br />regulations. <br /> <br />4.02. Pledge of Full Faith and Credit. The Issuer pledges <br />its full faith and credit to the payment of the Bonds. For the <br />purpose of producing sums which will not be less than five <br />percent (5%) in excess of the principal of and interest on the <br />Bonds when due, there is hereby levied upon all taxable <br />property within the corporate limits of the Issuer, a direct, <br />annual ad valorem tax to be levied in the years as set forth <br /> <br />13. <br />