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VW ARTICLE VI CUSTODY AND APPLICATION OF PROCEEDS OF BONDS Section 601. From the proceeds of the sale of the bonds there shall be deposited in the Bond Fund the accrued interest, which shall be used to pay interest on the bonds as the same becomes due and payable. Also, there shall be deposited in the Bond Fund from the pro- ceeds of the sale of the bonds such additional amount as shall be necessary, together with the accrued interest, to cover the interest requirements until rental payments shall commence under the Batesville Rubber Company Lease pursuant to the terms thereof. Section 602. There is hereby created and ordered to be established with the Trustee a trust fund to be designated "Industrial Development Construction Fund - Eatesville Rubber Company Project" (which is herein called "Construction Fund"). The balance of the proceeds of the sale of the bonds remaining after the deposits re- quired by Section 601 have been made shall be deposited in the Con- struction Fund and the amount therein in excess of the amount insured by the Federal Deposit Insurance Corporation must be continuously secured by bonds or other direct or fully guaranteed obligations of the United States of America; provided, however, that any moneys in the Construction Fund invested in accordance with the provisions of Article VII need not be secured. Moneys in the Construction Fund shall be expended only for the cost of acquiring the lands, con- structing and/or furnishing utility services thereto, designing and constructing the manufacturing buildings and permanent improvements thereon, purchasing and installing machinery and equipment, paying architectural and engineering fees, legal fees, the expenses of issu- ing the bonds, and all other project costs of every nature which, under the terms of the Batesville Rubber Company Lease, are to be paid out of the proceeds of the bonds. Each disbursement shall be on the basis of a requisition