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Section 14 . The picincipal proceeds received from the <br /> issuance and sale of the Series A Bonds , Series B Bonds and Series <br /> C Bonds shall be deposited into the Construction Account. <br /> Section 15 . The accrued interest received from the <br /> issuance and sale of the Series A Bonds , Series B Bonds and Series <br /> C Bonds shall be deposited in the Bond and Interest Sinking Fund <br /> Account, which sum shall be credited against the amount to be <br /> deposited into said account on the next interest payment date. In <br /> addition, there shall be transferred from the Construction Account <br /> into the Bond and Interest Sinking Fund Account an additional sum <br /> for capitalized interest during the development period of the Project <br /> equal to $84 ,100 . 00 or such lesser sum, if any, which is available <br /> after the payment of interest during the construction of the Project. <br /> In addition, the pledged annual payments of on-street parking meter <br /> revenues as provided in Section 19 hereof shall be deposited into said <br /> account. <br /> Section 16 . As soon as any portion of the Project becomes <br /> revenue-producing, and after providing for the payment of current <br /> expenses , including provision for an amount to be held as a reserve <br /> for current expenses not in excess of twenty percent (20%) of the <br /> estimated current expenses for the then current fiscal year, the City <br /> shall transfer from the Revenue Fund Account and deposit to the credit <br /> of the Bond and Interest Sinking Fund Account on or before each June <br /> 15 and December 15 (1) a sum which, together with the sums therein <br /> representing accrued and capitalized interest and the pledged annual <br /> payments of on-street parking meter revenues , shall be sufficient to <br /> pay the interest on the outstanding Series A Bonds , Series B Bonds and <br /> Series C Bonds as the same become due, plus (2) the balance thereafter <br /> remaining in the Revenue Fund Account in excess of said sum which, <br /> when added to said amount for interest, will not exceed $46 , 700 . 00 -- <br /> sixty-two and one-half hundredths ( . 625) of the average annual debt <br /> service on the Series A Bonds , Series B Bonds and Series C Bonds , such <br /> -19- <br />