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. . . B. The moneys set aside in the Escrowed Proceeds Fund shall be transferred to the Redevelopment Fund from time to time upon receipt by the Fiscal Agent of a certificate or opinion of an Independent Financial Consultant that Pledged Tax Revenues received by the Agency on or before July 30 of the year, next preceding the date of such transfer was at least equal to l.25 times the current year debt service on the Bonds less the current year debt service on that portion of the Bonds which will remain in the Escrowed Proceeds Fund immediately following any such transfer. Any moneys remaining in the Escrowed Proceeds Fund on November 1, 1989 shall be transferred to the Redemption Fund and applied to the redemption of Special Term Bonds of 2014 pursuant to Section lIB. C. The moneys set aside in the Redevelopment shall remain there until from time to time expended for purpose of financing a portion of the costs of the Redevelopment Project and other related costs, and also including in such costs: Fund the (1) The payment of an amount of money in lieu of taxes as authorized by Section 33401 of the Law in any year during which the Agency owns property in the Redevelopment Project Area, to any city, county, city and county, district or other public corporation which would have levied a tax upon such property had it not been exempt; (2) The cost of any lawful activities in connection with the implementation of the Redevelopment Project Area, including, without limitation, those activities authorized by Section 33445 of the Law; and (3) The necessary expenses in connection with the issuance and sale of the Bonds and fees of the Fiscal Agent and Paying Agents not otherwise paid under paragraph A above. If any sum remains in the Redevelopment Fund after the full accomplishment of the objects and purposes for which the Bonds were issued, that sum shall be transferred to the Special Fund. Moreover, all interest and income earned from the Redevelopment Fund on or prior to the date established by resolution of the Agency shall be retained therein. All of the above uses constitute a "redevelopment activity" as that term is defined in Health and Safety Code Section 33678. Section l4. Tax Revenues. As provided in the Redevelopment Plan, pursuant to Article 6 of the Law and Section 16 of Article XVI of the Constitution of the State of California, taxes levied upon taxable property in the 11-30-84 1282p/228l/04 -14-