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<br />the Construction Account after completion of the <br />Improvements and payment of the costs thereof, not so <br />transferred to the account of another improvement; (g) <br />all investment earnings on funds held in the Debt Service <br />Account; and (h) any and all other moneys which are <br />properly available and are appropriated by the governing <br />body of the City to the Debt Service Account. The Debt <br />Service Account shall be used solely to pay the principal <br />and interest and any premiums for redemption of the Bonds <br />and any other general obligation bonds of the City <br />hereafter issued by the City and made payable from said <br />account as provided by law. <br /> <br />No portion of the proceeds of the Bonds shall be <br />used directly or indirectly to acquire higher yielding <br />investments or to replace funds which were used directly <br />or indirectly to acquire higher yielding investments, <br />except (1) for a reasonable temporary period until such <br />proceeds are needed for the purpose for which the Bonds <br />were issued and (2) in addition to the above in an amount <br />not greater than the lesser of five percent (5%) of the <br />proceeds of the Bonds or $100,000. To this effect, any <br />proceeds of the Bonds and any sums from time to time held <br />in the Construction Account or Debt Service Account (or <br />any other City account which will be used to pay <br />principal or interest to become due on the bonds payable <br />therefrom) in excess of amounts which under <br />then-applicable federal arbitrage regulations may be <br />invested without regard to yield shall not be invested at <br />a yield in excess of the applicable yield restrictions <br />imposed by said arbitrage regulations on such investments <br />after taking into account any applicable "temporary <br />periods" or "minor portion" made available under the <br />federal arbitrage regulations. Money in the Fund shall <br />not be invested in obligations or deposits issued by, <br />guaranteed by or insured by the United States or any <br />agency or instrumentality thereof if and to the extent <br />that such investment would cause the Bonds to be <br />"federally guaranteed" within the meaning of Section <br />149(b) of the federal Internal Revenue Code of 1986, as <br />amended (the "Code"). <br /> <br />l8. Assessments. It is hereby determined that no <br />less than twenty percent (20%) of the cost to the City of each <br />Improvement financed hereunder within the meaning of Minnesota <br />Statutes, Section 475.58, Subdivision l(3), shall be paid by <br />special assessments to be levied against every assessable lot, <br />piece and parcel of land benefited by any of the Improvements. <br /> <br />36 <br />