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a <br /> « <br /> t , , ` <br /> same for deposit into the Special Tax Allocation Fund. The Incremental Property Taxes on <br /> deposit in and to the credit of the Special Tax Allocation Fund shall be used by the City solely <br /> and only as permitted under the Act and for the purpose of carrying out the terms and conditions <br /> of this Ordinance and shall be deposited as hereinafter provided to the separate accounts hereby <br /> created within the Special Tax Allocation Fund to be known as the `Developer Interest Costs <br /> Account, " the "Principal and Interest Account" and the "General Account. " As moneys are <br /> depositedby the City Treasurer into the Special Tax Allocation Fund they shall be credited on or <br /> before the first day of each month without any further official action or direction in the following <br /> accounts in the order in which hereinafter mentioned, as follows: <br /> 1. TI-IE DEVELOPER INTEREST COSTS ACCOUNT. The City Treasurer shall first <br /> credit to and immediately transfer into the Developer Interest Costs Account the <br /> Incremental Property Taxes until an amount sufficient to pay the Developer Interest Costs <br /> then due and owing shall be credited to and on deposit in the Developer Interest Costs <br /> Account, as provided in the Redevelopment Agreement. Incremental Property Taxes <br /> and, to the extent necessary, Limited Incremental Sales Taxes transferred for deposit to <br /> and on deposit in and to the credit of the Developer Interest Costs Account shall be used <br /> to pay Developer Interest Costs as provided in the Redevelopment Agreement. <br /> 2. THE PRINCIPAL AND INTEREST ACCOiJNT. The City Treasurer shall next <br /> credit to and immediately transfer into the Principal and Interest Account the balance of <br /> each distribution of Incremental Property Taxes until an amount of Incremental Property <br /> Taxes which is equal to the Principal Requirement and the Interest Requirement shall be <br /> -17- <br />