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6. There is hereby created a special fund, to be known as Improvement Bonds of 1980 Fund, and the principal of and interest on the bonds herein authorized shall be paid from said Fund; provided, however, that if the principal or interest upon the said bonds shall become due and payable and there are insuf- ficient moneys in said Fund to pay such principal and interest, the Clerk-Treasurer is authorized and directed to pay said prin- cipal and interest from the general fund and thereafter to reim- burse said general fund from collections of taxes levied hereby and special assessments for Improvements No. 77-4, 77-5, 77-6, 77-7, 78-1 and 80-2. The proceeds of the bonds herein authorized shall be deposited in the City's Temporary Improvement Bonds of Temporary Improvement Bonds of 1977, dated May 1, 1977, to the extent that collections of special assessments for said improve- ments are insufficient for such purpose, and the remainder shall be deposited in a separate construction fund to be used solely for the prepayment of expenses of Improvements 'Nos. 78-1 and 80-2. Any remaining proceeds may be used for any lawful purpose. All collections of special assessments for Improvements No. 77-4, 77-5, 77-6, 77-7, 78-1 and 80-2 are hereby irrevocably appropriated and pledged to the payment of principal of and interest on the bonds herein authorized, and the moneys and investments in the Improvement Bonds of 1980 Fund shall be used for no other purpose than to pay principal of and interest on the said bonds until such principal and interest shall have been paid in full. 7. It is hereby found and determined that the estimated collection of special assessments pledged for the payment of said bonds will, with the taxes hereby levied, produce at least five percent in excess of the amount needed to meet, when due, the principal and interest payments on the bonds and further found and determined that the special benefits to be assessed against assessable property for each improvement will, in any case, be more than 20% of the cost of the improvement to the municipality. For the purpose of paying the City's share of the cost of said improvements, there is hereby levied on all taxable property within the corporate limits of the City a general ad valorem tax in the years collectible and in the amount provided as follows: Year Collectible Amount Please see attach.ed Exhibit B 8. The City Manager,and Clerk-Treasurer are authorized and directed to prepare and furnish to the purchaser and to the attorneys approving the bonds, certified copies of all proceed- ings and records relating to the issuance of said General Obli- gation Improvement Bonds of 1980, and to the right, power and authority of the City and its officers to issue the same, and said certified copies and certificates shall be deemed the representations of the City as to all matters stated therein. -6--