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sale of the Series 1 Bonds herein authorized, less a pro rata share of all accrued interest received thereon, and less a pro rata share of any amount paid for the Bonds in excess of $16,204,000 and less capitalized interest in the amount of $~770,oodtogether with interest earnings thereon and subject to such other adjustments as are appropriate to provide sufficient funds to pay interest due on the Series 1 Bonds on or before F~ 1, 1988), shall be credited to the Capital Account created in the Fund, from which there shall be paid all costs and expenses of the Project, 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 for no other purpose except as otherwise provided by law: provided that the Series 1 Bond proceeds may also be used to the extent necessary to pay interest on the Series I Bonds due prior to the anticipated date of comnencement of the collection of tax increments. There is hereby pledged and there shall be credited to the Debt Service Account (a) a pro rata share of all accrued interest received upon delivery of the Series 1 Bonds~ (b) a pro rata share any amount paid for the Bonds in excess of $16,204,000: (c) capitalized interest in the amount of $2.770.00~together with interest earnings thereon and subject to such other adjustments as are appropriate to provide sufficient funds to pay interest due on the Bonds on or before Februarv 1, 1988): (d) by transfer from the separate tax increment accounts heretofore established for each of the Tax Increment Districts, and subject to the provisions of para~raph 25 hereof, tax increments derived from the Tax Increment Districts in an amount which, together with other revenues herein pledged to the payment thereof, are sufficient to pay the principal and interest to become due on the Series 1 Bonds herein authorized: (e) any collections of all taxes which may hereafter be levied in the event that the tax increments herein pledged to the payment of the principal and interest on the Series 1 Bonds are insufficient therefore: (f) all funds remaining in the Capital Account after completion of the Project and payment of the costs thereof; 19) any tax increment guarantee payments received on account of the Series 1 Bonds pursuant to any development agreements entered into between the City and any private developers: provided that such guarantee payments shall not be used to pay more than five percent of the principal and interest on the Series 1 Bonds in any calendar year without an opinion of Bond Counsel being obtained that states the payment of guarantee payments in excess of 5~ does not impair the tax exempt status of the Series 1 Bonds: and (n) 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 Series 1 Bonds issued hereunder and any other 27