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<br /> <br /> <br /> <br /> <br /> <br /> Section 17. INTERFST EARNINGS ON CERTIF'ICATES OF OBLIGATION <br /> PROCEEDS. The earnings derived from the investment of proceeds from the sale of the <br /> Certificates of Obligation shall be used along with other Certificate of Obligation proceeds <br /> as described in Section 1 hereof; provided that after completion of such project, if any of <br /> such interest earnings remain on hand, such interest earnings shall be deposited in the <br /> Interest and Sinking Fund. It is further provided, however, that interest earnings on the <br /> Certificates of Obligation proceeds which are required to be rebated to the United States <br /> of America pursuant to Section 14 hereof in order to prevent the Certificates of Obligation <br /> from being arbitrage bonds shall be so rebated and not considered as interest earnings for <br /> the purpose of this Section. <br /> <br /> <br /> PASSED AND ADOPTED the 6th day of De ber, 1993. <br /> <br /> ~4--V <br /> Ge ge Fisher, Mayor <br /> <br /> ATTFST: <br /> <br /> <br /> <br /> la'tie Cunningia^..,m, City C7 k <br /> <br /> APPROVED AS TO FORM: <br /> <br /> <br /> T. K. Haynes, City Attorney <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 31 <br />