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including the cost of any construction contracts heretofore let and all other costs incurred and to be incurred of the kind authorized in Minnesota Statutes, Section 475.65; and the moneys in said account shall be used only in accordance with the rules and re~ulations of the Commissioner of Transportation and as otherwise provided by law~ provided that the Highway Bond proceeds may also be used to the extent necessary to pay ~nterest on the Highway Bonds due prior to the anticipated date of commencement of the collection of taxes or moneys allocated or to be allocated to the City from its account in the City's State-Aid Highway Fund~ (b) There is hereby pledged and there shall be credited to the Debt Service Account (i) all money allocated or to be allocated to the City from its account in the City's State-Aid Highway Fund for the payment of the Highway Bonds~ (ii) a pro rata share of all accrued interest received upon delivery of the Highway Bonds~ (iii) a pro rata share of any amount paid for the Bonds in excess of $16,204,OOO~ (iv) any collections of all taxes which may hereafter be levied in the event that the money allocated or to be allocated to the City from its account in the City's State-Aid Highway Fund herein pledged to the payment of the principal and interest on the Highway Bonds are insufficient therefor~ (v) all funds remaining in the Construction Account after completion of the Project and payment of the costs thereof~ and (vi) all investment earnings on funds held in the Debt Service Account. The Debt Service Account herein created shall be used solely to pay the principal and interest and any premiums for redemption of the Highway Bonds issued hereunder and any other general obligation bonds of the City clereafter issued by the City and made payable from said account as provided by law. Any sums from time to time held in the Debt Service Account in excess of amounts which under the applicable federal arbitrage regulations may be invested without regard as to yield shall not be invested at a yield in excess of the applicable yield restrictions imposed by said arbitrage regulations on such investments after taking into account any applicable IItemporary periodsll made available under the federal arbitrage regulations. In addition, money in the Account shall not be invested in obligations or deposits issued by, guaranteed by or insured by the United States or any agency or instrumentality thereof if and to the extent that such investment would cause the Bonds to be "federally guaranteed" within the meaning of Section l03(h) of the Internal Revenue Code of 1954, as amended. 25