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....----- --- pay the same, the Finance Director is directed to pay such principal or interest from the general fund of the City, and the general fund may be reimbursed for such advances out of the proceeds of Assessments and Taxes when collected. There is appropriated to the Debt Service Fund (i) all capitalized interest financed from Bond proceeds, (if any), (ii) any amount over the minimum purchase price paid by the Purchaser and (iii) the accrued interest paid by the Purchaser upon closing and delivery of the Bonds. 4.02. It is hereby determined that the Improvements to be financed by the Bonds will directly and indirectly benefit abutting properties, and the City hereby covenants with the holders from time to time of the Bonds as follows: (a) The City has caused or will cause the Assessments for the Im- provements to be promptly levied so that the first installment will be collectible not later than 1991 and will take all steps necessary to assure prompt collection, and the levy of the Assessments is hereby authorized. The City Council will cause all further actions and proceedings relative to the making and financing of the Improvements financed hereby to be taken with due diligence that are required for the construction of each Improve- ment financed wholly or partly from the proceeds of the Bonds, and for the final and valid levy of the Assessments and the appropriation of any other funds needed to pay the Bonds and interest thereon when due. (b) In the event of any current or anticipated deficiency in Assessments and Taxes, the City Council will levy additional ad valorem taxes in the amount of the current or anticipated deficiency. (c) The City will keep complete and accurate books and records showing: (i) receipts and disbursements in connection with the Improve- ments, (ii) Assessments and Taxes levied therefor, (iii) other funds appropriated for their payment, collections thereof and disbursements therefrom, (iv) moneys on hand in the Debt Service Fund, and (v) the balance of unpaid Assessments. (d) The City will cause its books and records to be audited at least annually and will furnish copies of such audit reports to any interested person upon request. 4.03. It is determined that at least 2096 of the cost of the Improvements will be specially assessed against benefitted properties. For the purpose of paying' the principal of and interest on the Bonds, there has been and is hereby levied a direct annual irrepealable ad valorem tax (Taxes) upon all of the taxable property in the City, which shall be spread upon the tax rolls and collected with and as part of other general taxes of the City, The Taxes will be credited to the Debt Service Fund above provided and will be in the years and amounts as follows (year stated being year of levy for collection the following year): Year ~ Year ~ (See Attachment A)