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<br />. <br /> <br />. <br /> <br />. <br /> <br />Section 3. 1986 Police, Fire, and Street Equipment Fund. <br />A separate fund is hereby established which shall be called the <br />"1986 Police, Fire, and Street Equipment Fund." The proceeds <br />of the sale of the Certificates shall be credited to such <br />account, which shall be used solely to pay the cost of the <br />street, fire, and police equipment to be purchased and expenses <br />incurred in the issuance of the Certificates. After payment of <br />all costs of such equipment and such expenses of issuance, such <br />account shall be discontinued and any monies remaining therein <br />shall be transferred to the separate account in the general <br />debt service fund of the City authorized by Section 4 of this <br />Resolution. <br /> <br />Section 4. Common Debt Service Account. The certificates <br />shall be payable from a separate account in the Common Debt <br />Service Account of the City which shall be established solely <br />for the payment of the Certificates. The City agrees to <br />maintain such account until the Certificates have been paid in <br />full. Into such account shall be paid all receipts from the <br />taxes levied in this Resolution and any other money <br />appropriated to such account from any other source. If the <br />money in such account shall at any time be insufficient to pay <br />principal and interest due on the certificates, such amounts <br />shall be paid from the general fund of the City, which shall be <br />reimbursed therefor when sufficient money becomes available in <br />such account. The monies on hand in such account from time to <br />time shall be used only to pay the principal of and interest on <br />the Certificates and such other general obligation certificates <br />or bonds of the City as are made payable therefrom by the City <br />Council in accordance with applicable law. Any sums from time <br />to time held in such separate account (or any other City fund <br />which will be used to pay principal or interest to become due <br />on the Certificates) in excess of amounts which under Section <br />103(c) of the Internal Revenue Code, and regulations <br />promulgated thereunder, may be invested without regard to <br />yield, shall not be invested at a yield in excess of the <br />applicable yield restrictions imposed by such regulations. <br /> <br />Section 5. Pledqe of Taxing Powers. The full faith and <br />credit and taxing powers of the City are hereby irrevocably <br />pledged to the payment of the certificates and the interest <br />thereon when due. Taxes in the amount of Twenty Three Thousand <br />Seven Hundred Dollars ($23,700), which are to be applied to the <br />payment of principal and interest on the Certificates, were <br />levied in Resolution No. 85-69 of this Council, adopted <br />November 18, 1985. For the purpose of producing sums which <br />will not be less than five percent (5%) in excess of the <br />principal of and interest on the Certificates when due, there <br />is hereby levied upon all taxable property within the corporate <br />limits of the City, a direct, annual, ad valorem tax to be <br />levied in the years as set forth below, and in the amounts set <br />forth opposite such years, to be collected in the respective <br />succeeding collection years: <br /> <br />6. <br />