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• The sale proceeds shall be deposited, as and when received, into a special fund of the City in a bank selected by the City that is a member of FDIC which is hereby created and designated "2010 Sales and Use Tax Bond Sewer Construction Fund" (the "Construction Fund"). The moneys in the Construction Fund shall be used for paying the costs, or reimbursing the City for the costs paid, in accomplishing the Improvements, expenses incidental thereto and the expenses of issuing the Series 2010 Bond approved in accordance with the Agreement. Payments from the Construction Fund shall be by check or voucher signed by the two persons designated by the City Council, and drawn on the depository. Each such check or voucher shall briefly specify the purpose of the expenditure. Section 14. In addition to paying the principal of, interest on and Financing Fee in connection with the bonds, moneys in the Revenue Fund may be used to prepay all or a portion of the outstanding principal of the bonds. The City shall determine the bonds to be prepaid from moneys in the Revenue Fund. Section 15. (a) Moneys held for the credit of all funds created by this Ordinance shall, as nearly as may be practicable, be continuously invested and reinvested in direct obligations of, or obligations the principal of and interest on which are fully guaranteed by, the United States Government ("Government Obligations"), or other investments as may be from time to time authorized by law, which mature or which shall be subject to redemption by the holder, at the option of such holder, not later than the date or dates when the moneys will be needed for the purposes intended. • (b) Obligations so purchased as an investment of moneys in any such fund shall be deemed at all times to be a part of such fund, and the interest accruing thereon and any profit realized from such investment shall be credited to such fund, and any loss resulting from such investment shall be charged to such fund. (c) Moneys so invested in Government Obligations need not be secured by the depository bank. Section 16. The terms of this Ordinance shall constitute a contract between the City, the Bondholder and the Commission and no variation or change in the undertaking herein set forth shall be made while the bonds are outstanding unless consented to in writing by the Bondholder and the Commission. Section 17. The City will keep or cause to be kept proper books of accounts and records (separate from all other accounts and records) in which complete and correct entries shall be made of all transactions relating to the Pledged Revenues and such books shall be available for inspection by the Bondholder and the Commission at reasonable times and under reasonable circumstances. The City shall annually furnish (a) a report to the Bondholder and the Commission of all receipts and disbursements of the Pledged Revenues received by the City and (b) a copy of the audited financial statements of the City which shall reflect the receipt and disbursement of the Pledged Revenues for the year on which the report is issued. • 9