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f <br /> (i) Moneys in the Project Account of the Construction Fund shall be disbursed pursuant <br /> to the Development Agreement upon submission and approval of a requisition in the <br /> form attached hereto as Exhibit D. <br /> (ii) Moneys in the Land Acquisition Account of the Construction Fund shall be disbursed <br /> at the direction of the County Administrator at closing with any excess funds to be <br /> disbursed to the Issuer, and the Land Acquisition Account shall thereupon be closed. <br /> (iii) Moneys in the Cost of Issuance Account of the Construction Fund shall be disbursed <br /> by the Issuer at the direction of the County Administrator. Any monies remaining in <br /> the Cost of Issuance Account of the Construction Fund six months after the date of <br /> issuance of the Bonds shall be disbursed to the Issuer and the Cost of Issuance <br /> Account shall thereupon be closed. <br /> If for any reason any moneys in the Construction Fund are not necessary for or applied to the <br /> payment of such costs, then such moneys shall be deposited into the Principal Account in the Debt <br /> Service Fund and used only to pay the principal of the Bonds which first becomes due. Anything to <br /> the contrary contained herein notwithstanding, the Construction Fund shall be a trust fund for the <br /> purposes provided herein therefor and shall be Pledged Revenues. <br /> The Issuer's share of any liquidated damages or other moneys paid by defaulting contractors <br /> or their sureties, and all proceeds or insurance compensating for damages to the Project during the <br /> period of construction, shall be deposited in the Project Account in the Construction Fund to assure <br /> completion of the Project. <br /> Any moneys in the Construction Fund which, in the opinion of the Issuer, are not immediately <br /> necessary for expenditure, as hereinabove provided, may be invested in Authorized Investments <br /> maturing at such time or times as will make the proceeds thereof available when needed. All income <br /> derived therefrom shall be deposited into the Rebate Fund to the extent required and the excess, if <br /> any, into the Project Account in the Construction Fund. <br /> When the construction of the Project has been completed and all construction costs have been <br /> paid in full, all funds remaining in the Construction Fund shall be deposited in the Debt Service Fund, <br /> and the Construction Fund shall be closed. <br /> SECTION 19. COVENANTS OF THE ISSUER. Until all principal of and interest on the <br /> Bonds shall have been paid or provided for as herein permitted, the Issuer covenants with the <br /> Bondholders as follows: <br /> A. REVENUE FUND. The State Payments (commencing with the payments due on or <br /> about September 1, 2001), the Fourth Cent Tourist Development Tax (commencing with the taxes <br /> attributable to the month of July, 2001)and the Local Government Half-Cent Sales Tax (commencing <br /> with the payments due on or about September 1, 2001) shall upon receipt thereof be deposited in the <br /> State Payment Account, the Fourth Cent Tourist Development Tax Account and the Local <br /> 13 <br />