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(1) An amount which, together with the income on <br />® the investment thereof, will be sufficient to effect the refunding <br />will be deposited in an irrevocable escrow account established for <br />th the holders of the Refunded Bonds, and invested in Federal Securi- <br />ties. The principal amounts of such Federal Securities together <br />with the interest earnings thereon will be sufficient to make <br />timely payments of all presently outstanding principal, interest <br />• and redemption premiums, if any, in respect to the Refunded Bonds <br />and all costs associated with the acquisition and subsequent <br />management of such Federal Securities. <br />(2) Such costs of the refunding and of the con- <br />struction or acquisition of the Project shall be deemed to <br />include bond discount, if any, legal expenses, municipal bond <br />insurance, if any, fiscal expenses, expenses for estimates of <br />costs and of revenues, administrative expenses, interest accrued <br />on the Bonds for a reasonable period from the date of issuance <br />thereof, reasonable amounts for reserves, and such other expenses <br />as may be necessary or incidental for the financing authorized by <br />this Resolution. The costs of construction and acquisition of <br />the Project shall be deemed to include but not be limited to, the <br />acquisition of any lands, or interest therein, and of any fix- <br />tures, or equipment, or properties deemed necessary or convenient <br />therefor, architectural/engineering and legal expenses, municipal <br />bond insurance, if any, expenses for financial services or fiscal <br />advisors, expenses for estimates of costs and of revenues, expenses <br />for plans, specifications and surveys, administrative expenses <br />relating to the additions, extensions and improvements authorized <br />by this Resolution, and such other expenses as may be necessary or <br />incidental to the financing authorized by this Resolution and the <br />construction of the Project. <br />F. The principal of and interest on the Bonds and all <br />required sinking fund, reserve and other payments shall be pay- <br />able solely from the Sales Tax to be received by the Issuer and the <br />Investment Income as herein provided. The Issuer shall never be <br />-9- <br />