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<br />. : " <br /> <br />. <br /> <br />. <br /> <br />~ <br /> <br />B. Upon the delivery of the Bonds to the purchasers, <br />the Fiscal Agent, on behalf of the Agency, shall receive the <br />proceeds from the sale of the Bonds, and shall dispose of the <br />proceeds and moneys as follows: <br /> <br />(1) Deposit in the Interest Account accrued interest <br />and premium, if any, paid by the purchasers of the Bonds; <br /> <br />(2) Deposit in the Reserve Account a sum equal to the <br />Reserve Requirement; <br /> <br />(3) Pay the necessary expenses in connection with the <br />issuance and sale of the Bonds and fees of the Fiscal Agent <br />and Paying Agents; <br /> <br />(4) Deposit in the Refunded Bond Fund an amount which <br />when added to the amount transferred to such fund pursuant <br />to subsection A above will be sufficient, taking into <br />consideration any investment earnings thereon, to pay the <br />principal of, premium, if any, and interest on the Refunded <br />Bonds through the date of redemption; <br /> <br />(5) After making the above deposits, the balance of <br />the proceeds from the sale of the Bonds, if any, shall be <br />transferred to the Treasurer who shall place the same in <br />the Redevelopment Fund, <br /> <br />C. The moneys set aside in the Redevelopment Fund <br />shall remain there until from time to time expended for the <br />purpose of financing a portion of the costs of the <br />Redevelopment Project Area and other related costs, and also <br />including in such costs: <br /> <br />(1) The payment of an amount of money in lieu of <br />taxes as authorized by Section 33401 of the Law in any year <br />during which the Agency owns property in the Redevelopment <br />Project Area, to any city, county, city and county, <br />district or other public corporation which would have <br />levied a tax upon such property had it not been exempt; <br /> <br />(2) The cost of any lawful activities in connection <br />with the implementation of the Redevelopment Project Area, <br />including, without limitation, those activities authorized <br />by Section 33445 of the Law; and <br /> <br />(3) The necessary expenses in connection with the <br />issuance and sale of the Bonds and fees of the Fiscal Agent <br />and Paying Agents not otherwise paid under paragraph A <br />above. <br /> <br />If any sum remains in the Redevelopment Fund after the <br />full accomplishment of the objects and purposes for which the <br /> <br />02-22-83 <br />4141P/2306/00 <br /> <br />SA <br /> <br />-14- <br /> <br />/t-3/ <br />