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private developers¡ provided that such guarantee payments shall not be used to pay principal and interest on the Bonds in any calendar year without an opinion of Bond Counsel being obtained that states that the use of guarantee paYments to pay principal and interest on the Bonds does not impair the tax exempt status of the Bonds¡ (3) any other unexpended monies pledged to the Debt Service Account of the Prior Bonds pursuant to the Prior Resolution (unless used to fund the Escrow Account) ¡ (4) all accrued interest received upon delivery of the Bonds (unless used to fund the Escrow Account) i (5) any unused discount (unless used to fund the Escrow Account) i (6) 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¡ (7) all investment earnings on funds in the Debt Service Account¡ and (8) any and all other moneys which are properly available and are appropriated by the governing body of the City to the Debt Service Account. The amount of any surplus remaining in the Debt Service Account when the Bonds and interest thereon are paid shall be used consistent with the Minnesota Statutes, Section 475.61, Subdivision 4. The moneys in the Debt Service Account shall be used solely to pay the principal of and interest on the Bonds or any other bonds hereafter issued and made payable from the Fund. No portion of the proceeds of the Bonds shall be used directly or indirectly to acquire higher yielding investments or to replace funds which were used directly or indirectly to acquire higher yielding investments, except (1) for a reasonable temporary period until such proceeds are needed for the purpose for which the Bonds were issued, and (2) in addition to the above, in an amount not greater than the lesser of five percent (5%) of the proceeds of the Bonds or $100,000. To this effect, any proceeds of the Bonds and any sums from time to time held in the Fund (or any other City account which will be sued to pay principal and interest to become due on the Bonds) in excess of amounts which under the applicable federal arbitrage regulations may be invested without regard as to yield shall not be invested in excess of the appli- cable yield restrictions imposed by the arbitrage regulations on such investments after taking into account any applicable "temporary periods" or "minor portion" made available under the federal arbitrage regulations. In addition, the proceeds of the Bonds and money in the Fund 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 149(b) of the federal Internal Revenue Code of 1986, as amended (the "Code") . 906107.01 22