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book-entry form, the provisions of this Section shall control over conflicting provisions in any other section of this resolution. SECTION 7. Sale of Bonds. The President of the Redevelopment Commission is authorized to select one or more purchasers of the 2014 Bonds (collectively, the "Purchaser"), and to enter into a bond purchase contract in customary form with the Purchaser. After the 2014 Bonds have been properly sold and executed, the Controller shall receive from the purchaser's payment for the 2014 Bonds and shall provide for delivery of the 2014 Bonds to the purchasers. The Controller is hereby authorized and directed to obtain a legal opinion as to the validity of the 2014 Bonds from Barnes & Thornburg LLP, and to furnish such opinion to the purchasers of the 2014 Bonds or to cause a copy of said legal opinion to be printed on each 2014 Bond. The cost of such opinion shall be paid out of the proceeds of the 2014 Bonds. SECTION 8. Funds and Accounts. (a) Use of Bond Proceeds; Refunding Fund. Any accrued interest and capitalized interest at the time of delivery of the 2014 Bonds will be deposited in the Revenues Account of the Bond Fund as defined below and applied to payments on the 2014 Bonds on the first interest payment date. If a Reserve Fund (as defined below) is deemed necessary in order to sell the 2014 Bonds, an amount equal to the Debt Service Reserve Requirement (as defined below) shall be deposited into the Reserve Fund from the proceeds of the 2014 Bonds, except as otherwise provided in Section 8(d)herein. The remaining proceeds received from the sale of the 2014 Bonds shall be deposited in the fund hereby created and designated as the "South Bend Redevelopment District Refunding Fund" (the"Refunding Fund"). The proceeds deposited in the Refunding Fund, together with all investment earnings thereon, shall be expended by the Commission only for the purpose of paying the principal of and the interest and premium on the Prior Bonds. Any balance remaining within the Refunding Fund after the completion of the Refunding which is not required to meet unpaid obligations incurred in connection therewith may be (i) used to pay debt service on the 2014 Bonds, or (ii) otherwise used as permitted by law. (b) Bond Fund. There is hereby created a separate fund, designated as the "South Bend Redevelopment District Bond Fund" (the "Bond Fund"), which shall be applied to the payment of the principal of and interest on the 2014 Bonds, and all other bonds payable from the Special Tax and/or other revenues of or available to the Commission as contemplated hereby, and to no other purpose not allowed under Ind. Code § 36-7-14-27. As the Special Tax is collected, it shall be accumulated in an account of the Bond Fund hereby created and designated as the "Special Tax Account". The Bond Fund shall also have a separate account designated the Revenues Account as described in Section 9 hereof. (c) Reserve Fund. At the time of the sale of the 2014 Bonds, the President of the Commission, with the advice of the Commission's financial advisor, may determine to establish a debt service reserve fund for the 2014 Bonds (the "Reserve Fund"), which shall be funded in an amount determined by the financial advisor to be required to adequately secure the 12