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and needed for other purposes as the Council or the City Finance Director, or designee, may from time to time determine, but only to the extent and in the amounts necessary to pay, when due, the principal of and interest on the Bonds, after taking into account any other assessments, taxes, or other revenues herein or hereafter pledged and appropriated to the Debt Service Account or otherwise made available for its purposes; (b) all accrued interest received upon the delivery of the Bonds and $ of other proceeds thereof, all to be used to pay the interest first comin~ due thereon; (c) all collections of any taxes which may hereinafter or hereafter be levied for the payment of the principal of and interest on the Bonds; (d) all investment earnings on moneys held in the Debt Service Account; and (e) any and all other funds which are properly available and are appropriated by the City Council to the Debt Service Account. The Debt Service Account shall be used solely to pay the principal of, interest on, and premiums for, if any, the Bonds. 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 "Sale Proceeds" of the Bonds (bein~ the "issue price" of the Bonds less accrued interest). To this effect, any proceeds of the Bonds and any sums from time to time held in the Construction Account or Debt Service Account in excess of amounts which under then-applicable federal arbitrage regulations may be invested without re~ard 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 takin~ 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, ~uaranteed by or insured by the United States or any a~ency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally ~uaranteed" within the meanin~ of Section 149(b) of the federal Internal Revenue Code of 1986, as amended (the "Code"). 17. Assessments. It is hereby determined that no less than twenty percent (20%) of the cost to the City of the Improvements financed hereunder within the meanin~ of Minnesota Statutes, Section 475.58, Subdivision 1(3), shall be paid by special assessments heretofore levied or to be levied hereafter a~ainst every assessable lot, piece and parcel of land benefitted by any of the Improvements. The City hereby covenants and agrees that it will let all construction contracts not heretofore let within one (1) year after ordering each Improvements financed hereunder unless the resolution ordering said Improvement specifies a different time limit for the lettin~ of construction contracts. The City hereby further covenants and a~rees that it will do and perform as soon as they may be done, all acts and