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Service Fund. If a payment of principal or interest on' the Bonds becomes due when there is not sufficient money in the Debt Service Fund to pay the same, the Finance Director-Clerk is directed to pay such principal or interest from the general fund of the City, and the general fund will be reimbursed for the advances out of the proceeds of Assessments and Taxes when collected. There is appropriated to the Debt Service Fund (i) capitalized interest financed from Bond proceeds, if any, (ii) any amount over the minimum purchase price paid by the Purchaser, and (iii) the accrued interest paid by the Purchaser upon closing and delivery of the Bonds. (b) the total costs of the Projects specified in Section 1.01 is estimated to be $3,483,000. The City has appropriated and hereby irrevocably appropriates the following sums to the Construction Account for the Projects established by clause (d): Developer Payments V.S, Army Payment Ramsey County Contribution Tax Increment Payments MSA Funds on Hand Prepaid Assessments $ 75,000 30,000 244,000 255,100 1,189,000 99,800 (c) The individual projects specified in Section 1.01 are hereby consolidated and are to be conducted as a single improvement (Improvement) project pursuant to Minnesota Statutes, Section 435.56, (d) The proceeds of the Bonds, less the appropriations made in paragraph (a), together with the other funds appropriated for the Improvements by clause (b) together with Assessments and Taxes collected during the construction of the Improvements will be deposited in a separate construction fund to be used solely to defray expenses of the Improvements and the payment of principal and interest on the Bonds prior to the completion and payment of all costs of the Improvement. Any balance remaining in the construction fund after completion of the Improvement may be used to pay the cost in whole or in part of any other improvement instituted under the Act. When the Improvement is completed and the cost thereof paid, the construction account is to be closed and subsequent collections of Assessments and Taxes for the Improvement are to be deposited in the Debt Service Fund. 4.02, It is hereby detennined that the Improvement will directly and indirectly benefit abutting property, and the City hereby covenants with the holders from time to time of the Bonds as follows: (a) The City has caused or will cause the Assessments for the Improvement to be promptly levied so that the first installment will be collectible not later than 1997 and will take all steps necessary to assure prompt collection, and the levy of the Assessments is hereby authorized. The City Council will cause to be taken with due diligence all further actions that are required for the construction of each Improvement financed wholly or partly from the proceeds of the Bonds, and will take all further actions necessary for DJK1l5945 NE136-131