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project and comply with all applicable state and federal laws, rules, regulations, <br />procedures, covenants and assurances required by the State of Texas or the FAA <br />in connection with the federal grant in the acquisition of such property interests; <br />and that airport property identified within the scope of this project and Attorney's <br />Certificate of Airport Property Interests shall be pledged to airport use and shall <br />not be removed from such use without prior written approval of the State; and <br />k. the Sponsor shall submit to the State annual statements of airport revenues and <br />expenses as requested; and <br />all fees collected for the use of an airport or navigational facility constructed with <br />funds provided under the program shall be reasonable and nondiscriminatory. The <br />proceeds of such fees shall be used solely for the development, operation, and <br />maintenance of the Sponsor's system of airport(s) or navigational facility(ites). <br />M. an Airport Fund shall be established by resolution, order, or ordinance in the <br />treasury of the Sponsor, or evidence of the prior creation of an existing airport <br />fund or a properly executed copy of the resolution, order, or ordinance creating <br />such a fund shall be submitted to the State. Such fund may be an account within <br />another fund but must be accounted for in such a manner that all revenues, <br />expenses, retained earnings, and balances in the account are discernible from other <br />types of moneys identified in the fund as a whole. All fees, charges, rents, and <br />money from any source derived from airport operations must be deposited in said <br />Airport Fund and shall not be diverted to the general revenue fund or any other <br />revenue fund of the Sponsor. All expenditures from the Airport Fund shall be <br />solely for airport or airport system purposes. Sponsor shall be ineligible for a <br />subsequent grant or loan by the State unless, prior to such subsequent approval of <br />a grant or loan, Sponsor has complied with the requirements of this subparagraph; <br />and <br />n. for federally funded projects any revenue from airport property mineral rights be <br />identified as airport revenue; deposited to the airport fund and used for airport <br />operations; and <br />o. the Sponsor must operate and maintain the lighting system during the useful life <br />of the system in accordance with applicable FAA standards. <br />P. insofar as it is reasonable and within its power, Sponsor shall adopt and enforce <br />zoning regulations to restrict the height of structures and use of land adjacent to <br />or in the immediate vicinity of the airport to heights and activities compatible with <br />normal airport operations as provided in Texas Local Government. Code §§ <br />241.001 et seq. Sponsor shall also acquire and retain aviation easements or other <br />property interests in or rights to use of land or airspace unless Sponsor can show <br />that acquisition and retention of such interests will be impractical or will result in <br />undue hardship to Sponsor. Sponsor shall be ineligible for a subsequent grant or <br />loan by the State unless Sponsor has, prior to such subsequent approval of a grant <br />or loan, adopted and passed an airport hazard zoning ordinance or order approved <br />by the State; and <br />Page 8 of 43 <br />