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(c) The Paying Agent shall, upon receipt of moneys received from the <br />draw on the Surety Bond, as specified in the Demand for Payment, <br />credit the Bond Principal and Interest Account to the extent of <br />moneys received pursuant to such Demand. <br />(d) The Reserve Account shall be replenished so that principal and <br />interest on the Surety Bond shall be paid from first available <br />revenues then legally available to the Commission, including, but <br />not limited to, Tax Increment. <br />C. General Account. Any amounts remaining in the Tax <br />Increment Revenue Account in excess of the amount of Tax Increment held in <br />reserve for payment of debt service on the Bonds to be taken into account <br />pursuant to Indiana Code 36- 7 -14 -27 in determining the amount of the Special <br />Tax for the next following calendar year shall be deposited into the General <br />Account of the Allocation Fund and available only to do one (1) or more of the <br />following: <br />i. pay the principal of and interest on any obligations <br />(including the Bonds) payable solely from allocated tax proceeds which <br />are incurred by the Redevelopment District for the purpose of financing or <br />IL refinancing the redevelopment of the Area; <br />ii. establish, augment, or restore the debt service <br />reserve for bonds (including the Bonds) payable solely or in part from <br />allocated tax proceeds in the Area; <br />iii. pay the principal of and interest on bonds payable <br />from allocated tax proceeds in the Area; <br />iv. pay the principal of and interest on bonds issued by <br />the City to pay for local public improvements in or serving the Area; <br />V. pay premiums on the redemption before maturity of <br />bonds payable solely or in part from allocated tax proceeds in the Area; <br />vi. make payments on leases payable from allocated <br />tax proceeds in the Area under Section 25.2 of the Act; <br />co vii. reimburse the City for expenditures made by the <br />City for local public improvements (which include buildings, parking <br />facilities, and other items described in Section 25.1(a) of the Act) within <br />or serving the Area; <br />viii. reimburse the City for rentals paid by the City for a <br />building or parking facility within or serving the Area under any lease <br />entered into under Indiana Code 36 -1 -10; <br />SBIMANI 137132v1 - 4 - <br />