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1 <br />Account in excess of the Debt Service Reserve Requirement <br />shall be withdrawn from the Reserve Account and deposited <br />in the General Account. Money in the Reserve Account shall <br />also be available to make the final payments of interest <br />and principal on the Tax Increment Bonds. The <br />Redevelopment Commission determines that the reserves <br />hereunder are reasonably required. <br />(c) The remaining amounts in the Tax Increment <br />Revenue Account shall be deposited into the General Account <br />of the Allocation Fund and be available for the purposes <br />authorized by Section 39(b)(2) of the Act as of the date of <br />original issuance of the Bonds or by any amendments <br />thereof. <br />(d) Subject to the requirements of the Act, when the <br />money in the Allocation Fund is sufficient to pay when due <br />all principal and interest on Tax Increment Bonds as <br />permitted in subsection (c) , and is not needed for the <br />other purposes as permitted in subsection (c) , money in the <br />Allocation Fund in excess of that amount (the "Excess <br />Funds") shall be deposited into the funds of the respective <br />taxing units entitled thereto, or during the time a part of <br />the Allocation Area is located in an enterprise zone <br />created under IC 4- 4 -6.1, such Excess Funds shall be <br />deposited in a special fund created for the enterprise zone <br />in accord with IC 36- 7- 14- 39(g). <br />The Tax Increment and earnings thereon, other than the Excess <br />Funds, shall be and hereby is irrevocably pledged for the purposes <br />set forth in this Section 4. <br />Proceeds received from the sale of the Bonds shall be <br />deposited as follows: <br />(w) All accrued interest to the date of issuance of <br />the Bonds, unused discount and any premium shall be <br />deposited in the Bond Principal and Interest Account. <br />(x) From the proceeds of the Bonds, the amount <br />required to fund the Escrow Agreement, less the amount <br />provided for such purposes from other sources, shall be <br />irrevocably deposited with the Escrow Agent to be held and <br />used in accord with the terms of the Escrow Agreement. <br />(y) The amounts described in subsection (b) above <br />shall be deposited in the Reserve Account. <br />-14- <br />