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due on the Bonds on or before Fphrlli'lry 1, 19:]~), shall be credited to the Capital Account heretofore created in the Fund, from which there shall be paid all costs and expenses of the Project, including the cost of any construction contracts heretofor-e- let and all other cos ts 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 Bond proceeds may also be used to the extent necessary to pay interest on the Bonds due prior to the anticipated date of commencement of the collection of tax increments. There is hereby pledged and there shall be credited to the Debt Service Account heretofore created in the Fund (a) all accrued interest received upon delivery of the Bonds; (b) any amount paid for the Bonds in excess of $8,l72,OOO; (c) capitalized interest in the amount of ~.332.wo(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 FPhnJi'lry 1, 199Q); (d) by trans fer from the separate tax increment accounts heretofore established for each of the Tax Increment Districts and subject to the provisions of paragraph l8 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 became due on the Bonds heretofore and 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 Bonds are insufficient therefore; (f) all funds remaining in the Capital Account after completion of the proj ect and payment of the cos ts thereof; (g) any tax increment guarantee payments received on account of the 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 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 Bonds; and (h) all investment earnings on funds held in the Debt Service Account. The Debt Service Account heretofore created shall be used solely to pay the principal and interest and any premiums for redemption of the Bonds issued hereunder and any other general obligation tax increment bonds of the City heretofore or hereafter 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 15