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(b) A minimum of 80 percent of the <br />retained amounts, together with interest <br />earned thereon, shall be used solely for <br />the eligible costs of the expansion or <br />reconstruction of treatment works <br />associated with the project and necessary <br />to meet the requirements of the Act. The <br />City shall obtain the written approval of <br />the Regional Administrator prior to commit- <br />ment of the retained amounts for any <br />expansion and reconstruction. The <br />remainder of the retained amounts may be <br />used as the City sees fit. <br />(c) Pending use, the City shall invest <br />the retained amounts for reconstruction <br />and expansion in: (l) Obligations of the <br />U. S. Government or (2) obligations <br />guaranteed as to principal and interest <br />by the U. S. Government or any agency <br />thereof or (3) shall deposit such amounts <br />in accounts fully collateralized by <br />obligations of the U. S. Government or by <br />obligations fully guaranteed as to <br />principal and interest by the U. S. <br />Government or any agency thereof. <br />(14) The City through its Utility Commission <br />will maintain such records as necessary to <br />document compliance with the above with the <br />right of the Environmental Protection Agency to <br />audit all records pretinent to this ICR system. <br />(15) Any change or amendment to this <br />Ordinance must have written approval of the <br />Regional Administrator of the E.P.A. <br />- 6 - <br />