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Section 1. The City Council hereby affirms the approval of the Plan, the proposed City issuance of a Non-Arbitrage Certificate and a Tax Increment Anticipation Note and transfer of the proceeds of such note to the Commission by the City and the designation of the Area as set forth in Ordinance No. 5686 and Ordinance No. 5687 and Resolution No. 32 of the Commission. Section 2. The creation by the Finance Director of the City (the "Finance Director") of a special allocation fund (the "Special Allocation Fund") which shall be held separate and apart from the City~s other funds and administered by the Finance Director in accordance with this Ordinance and Ordinance No. 5687 are hereby ratified. Pursuant to Section 99.845 of the Act and Ordinance No. 5687, payments in lieu of taxes ("PILOTs") have been and shall be collected by the St. Louis County Collector of Revenue ("Collector of Revenue") and paid to the Finance Director with respect to real property in the Area. The Finance Director has been and shall deposit such payments in the Special Allocation Fund to be used for the purposes set forth in this ordinance. The Finance Director and all other appropriate City officials are further authorized and directed to enter into such agreements (i) for collection of moneys to be deposited in the Special Allocation Fund and (ii) for disbursements from the Special Allocation Fund for purposes of paying redevelopment project costs as they shall deem necessary, desirable, convenient or proper. Section 3. The City Council hereby finds and determines that it is necessary for the implementation of the Plan for the Area to authorize and direct the Finance Director to create a subaccount of the Special Allocation Fund which subaccount shall be known as the "Acquisition Loan Subaccount" and which shall be a part of the Fund held separate and apart from the City~s other funds and from the remainder of the Fund and administered by the Finance Director in accordance with this Ordinance. PILOTs collected by the Collector of Revenue and paid to the Finance Director pursuant to Section 99.845 of the Act and Ordinance No. 5687 with respect to real property in the Area (except for (i) those PILOTS pledged to The Boatmen~s Bank of St. Louis pursuant to Ordinance No. 5781; (ii) the costs of collection charged by the County for such PILOTS, and (iii) administrative expenses incurred by the' Commission in administering the Plan) in an amount not to exceed the maximum amount shown on Exhibit ~ for each year shall be deposited into the Acquisition Loan Subaccount during each year of the term of the Note (as hereinafter defined); provided, however, if in any year during the term of said Note, the Area shall fail to generate sufficient PILOTs to permit said maximum amount to be deposited into the Acquisition Loan Subaccount in such year, the Finance Director shall deposit a sum equal to the amount necessary to fund such shortfall in any later year or years during the term of said Note if in such later year or years the Area should generate more than enough PILOTs to make the maximum deposit into the Acquisition Loan Subaccount as STL-7~015 - 2 -