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be conclusive evidence that the Bonds so authenticated have been duly executed, authenticated <br /> and delivered hereunder and are entitled to the benefits of this ordinance. <br /> In case either of the officers who shall have executed the Bonds shall cease to be an <br /> officer or officers of the City before the Bonds so signed shall have been authenticated or <br /> delivered by the Bond Registrar, or issued by the City, such Bonds may nevertheless be <br /> authenticated, delivered and issued and upon such authentication, delivery and issuance, shall be <br /> as binding upon the City as though those who signed the same had continued to be such officers <br /> of the City. Any Bond may be signed and attested on behalf of the City by such persons who at <br /> the date of the actual execution of such Bond, are the proper officers of the City, although at the <br /> original date of such Bond any such person shall not have been such officer of the City. <br /> Section 8. Application of Bond Proceeds. The City currently maintains a fund <br /> designated the "Solid Waste Fund 402" (the "Project Fund") into which the proceeds of the <br /> Bonds (other than accrued interest) shall be deposited. Money on hand in the Project Fund shall <br /> be used to pay the costs of the Project and costs of issuance of the Bonds. The Chief Financial <br /> Officer may invest money in the Project Fund in legal investments for City funds. Earnings on <br /> such investments shall accrue to the benefit of the fund earning such interest. Any part of the <br /> proceeds of the Bonds remaining in the Project Fund after all costs of the Project have been paid <br /> (including costs of issuance) may be used for any capital purpose of the City or may be <br /> transferred to the Debt Service Account. <br /> Section 9. Debt Service Account and Provision for Tax Levy Payments. The City <br /> shall establish an account in the Solid Waste Fund 402 to be used for the payment of debt service <br /> on all limited tax general obligation bonds, designated as the "Bond Redemption Account" (the <br /> "Debt Service Account"). No later than the date each payment of principal of and/or interest on <br /> -17-- P:\20287_CMW120287_8RS 02/08/10 <br />