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• <br /> (III) Each payment of Rebatable Arbitrage will be made <br /> to the - Internal Revenue Service Center, Philadelphia, <br /> Pennsylvania 19225 and will be accompanied by IRS Form 8038-T . <br /> Section 13 . Construction Fund. There is hereby created a <br /> • <br /> special fund of the City to be known as the "1992 Water and Sewer <br /> Construction Fund" (the "Construction Fund" ) . Certain proceeds <br /> of the 1992 Bonds, as set forth in Section 14 of this ordinance, <br /> shall be paid into such Construction Fund and utilized to pay all <br /> costs of the acquisition, construction and installation of the <br /> Project, and costs incidental thereto, and all costs incurred in <br /> connection with the issuance and sale of the 1992 Bonds . <br /> 1992 Bond proceeds not immediately needed to pay Project <br /> costs may be deposited in or with such institution or invested in <br /> Permitted Investments which will mature prior to the date on <br /> which the money so invested shall be needed. All interest earned <br /> and income or profits derived by virtue of such investments shall <br /> remain in the Construction Fund and be used for the Project <br /> purposes; provided, however, that moneys in the Construction Fund <br /> may be used to pay the Arbitrage Earnings Amount, if any, to the <br /> extent the Arbitrage Earnings Amount is attributable to earnings <br /> on moneys in the Construction Fund. 1992 Bond proceeds, or <br /> income therefrom, not expended upon completion of the Project, <br /> may be used, first, to meet the requirements of Section 9 .0 <br /> hereof; second, to make additions and improvements to the System <br /> as deemed necessary by the City Council; and third, to pay the <br /> principal of and interest on any Parity Bonds . <br /> 48 Fwwoo3.Doc 92/09/21 <br />