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Construction of the Project <br /> <br /> The proceeds from the sale of the Certificates will be deposited in the Reserve Fund and the <br />Construction Fund as provided in the Indenture. The proceeds of the IDA Loan and other funds to be <br />contributed by the City will be deposited in the Construction Fund on the date of initial delivery of the <br />Certificates. All costs of the Project will be paid by the Trustee from the Construction Fund, upon receipt of <br />written requests for payment submitted by the City. Each written request will be signed by an Authorized City <br />Representative and, except for requisitions for payments of Costs of Issuance, by an authorized agent of <br />, the Project Architect. <br /> <br />The City has awarded the contract for construction of the Project to <br />Construction of the Project began in mid-January, 1997 and is expected to <br /> ,1997. <br /> <br />be completed by <br /> <br />Sources and Uses of Funds <br /> <br /> The following table itemizes the estimated sources of funds, including the proceeds from the sale of <br />the Certificates (excluding accrued interest), available to pay the costs of the Project, and how such funds are <br />expected to be used: <br /> <br />Sources of Funds: <br /> Proceeds of the Certificates ...................................................$ <br /> Proceeds of the 1994 Bonds .................................................. <br /> Proceeds of the IDA Loan .................................................... <br /> City's Contribution of Other Available Funds ...................... <br /> Total ......................................................................................$ <br /> <br />Uses of Funds: <br /> Deposit to the Parking Account <br /> of the Construction Fund ...................................................$ <br /> Deposit to the Retail Space Account <br /> of the Construction Fund ................................................... <br /> Deposit to the Reserve Fund ................................................. <br /> Costs of Issuance ................................................................... <br /> Total ......................................................................................$ <br /> <br />SECURITY FOR THE CERTIFICATES <br /> <br />Limited Obligations; Sources of Payment <br /> <br /> Each Certificate evidences the undivided, proportionate interest of the Owner thereof in the right to <br />receive Base Rentals to be made by the City under the Lease. The Certificates are payable solely out of the <br />Base Rentals and other money and investments held by the Trustee under the Indenture. <br /> <br /> The City's obligation to make Base Rentals and other payments under the Lease is subject to annual <br />appropriation by the City Council and will not constitute a debt or liability of the City or of the State of <br />Missouri or any political subdivision thereof. Neither the Lease nor the Certificates will constitute an <br />indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. The execution <br />and delivery of the Lease and the Certificates will not obligate the City to levy any form of taxation therefor or <br /> <br />-8- <br /> <br /> <br />