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<br />this Agreement shall be Iimited to, the funds available to the Ciry from the net proceeds of the <br />sale of Obligations (excluding the proceeds of Obligations issued to retire the principal amount <br />of any anticipatory Obligations) and net investment earnin(zs thereon. <br />The net proceeds of any Oblieauons of the City issued to pay the cost of the New <br />Facility as contemplated by tlus Agre-ment, excluding accrued interest or premium thereon and <br />the proceeds of any Obligations issued to retire the principal amount of any anticipatory <br />Obligations, shalI be deposited in a separate Library Construction Fund to be established and <br />maintained by the Ciry. The Library Construction Fund sha11 remain in the custody and under <br />the exclusive control and manaolement of the City at alI times during iu existence. The City shall <br />disburse funds from the Library Construction Fund at such times and in such amounts as may be <br />determined by the City to pay cosu of the New Facility, including any financing costs related to <br />the issuance of the Obligations. Any amount that the City is required under Section 148 of the <br />Intemal Revenue Code of 1986, as amended, to rebate to the United States af America in <br />connection with the issuance of Obligation,s may be allocated from the proeeeds of the <br />Obligations and the net investment eamings thereon as determined by the City and, as such, <br />zvould constitute costs of the New Facility subject to the Iimitation set forth in the immediately <br />precedin' paragraph. <br />ITEM III: Ownership of Property/I,eased Property <br />The City shall be the sole and absolute owner of the Site, the New Building, all <br />furniture, furnishings, fixtures and equipment acquired by the City for the New Facility and aIl <br />ather improvements made by the City for or as a part of the New Facility. The Trustees shall be <br />the sole and absolute owner of all penonal property acquired by the Trustees for the North <br />Olmsted Branch of the Library. The City shall Iease to the Trustees the New Facility, for such <br />-4- <br />-?