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� , , , . <br /> on deposit in and to the credit of the Principal and Interest Account. Incremental Property <br /> Taxes, and, to the extent necessary, Limited Incremental Sales Taxes transferred for <br /> deposit and on deposit in and to the credit of the Principal and Interest Account shall be <br /> used to pay principal of and interest on the Note as follows: On any Regular Interest <br /> Payment Date, the Paying Agent shall apply Pledged Moneys first, to the payment of <br /> Deferred Accrued Interest until fully paid, second, to Current Interest until fully paid, as <br /> aforesaid, and finally, to provision for mandatory redemption of principal as provided in <br /> Section 4 hereof. By way of example, the Paying Agent shall use Incremental Property <br /> Taxes derived from the 2000 Tax Year (collectible in 2001) to pay the Principal <br /> Requirement and the Interest Requirement for the Note Year ending January 1, 2002, and <br /> so on. Each December l, commencing December 1, 2001, the Paying Agent shall <br /> conduct an accounting(an "Accounting") to determine the Principal Requirement and the <br /> Interest Requirement for the Note Year ending on the subsequent January 1. Each <br /> Accounting shall set forth the aggregate amount of Incremental Property Taxes collected <br /> in the current Note Year and deposited to date by the City Treasurer into the Special Tax <br /> Allocation Fund, the amount of Incremental Property Taxes on deposit in the Special Tax <br /> Allocation Fund, the amount of Incremental Sales Taxes collected in the current Note <br /> Year and deposited to the Limited Incremental Sales Tax Subaccount, and the amount of <br /> Limited Incremental Sales Taxes on deposit in the Limited Incremental Sales Tax <br /> Subaccount. If upon any Accounting and such deposit and credit there are funds in the <br /> Principal and Interest Account in excess of the amount necessary to pay such Principal <br /> -18- <br />