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The cost of engineering, legal and financial services, the <br /> cost of surveys, designs, soundings, borings, rights of way, and all <br /> other necessary and incidental ex�enses, including interest accruing <br /> on said bonds during the construction perlod to the extent such in- <br /> terest is not paid from income and revenue, shall be deemed items of <br /> cost of construction of the pro�ect. <br /> If the City Council shall determine at any time that the <br /> amount of proceeds in the Construction Fund Account is in excess of <br /> the amount necessary to meet authorized expenditures therefrom during <br /> the next ensuing three months, it may by resolution direct the Deposi- <br /> tary of said Account to invest such excess in interest bearin� bonds <br /> or other �eneral obli�ations of the United States Government he�i�g <br /> a maturity of not more than one year subsequent to the date of such <br /> investment, or in certificates of deposit or time deposits constitu- <br /> ting direct obligations of any bank as defined by the Illinois Bank- <br /> ing Act, as amended and whose deposits are insured by the Federal <br /> Deposit Insurance Corporation, and all such investments, as well as <br /> income therefrom, shall be carried to the credit of the Construction <br /> Fund Account. As and when such funds are thus needed the Council <br /> shall direct the said Depositary by resolution to cause a sufficient <br /> a.mount of such investments to be sold and converted into cash to the <br /> credit of the Construction Fund Account. <br /> Section 1�+. The books of the City Trea,surer shall show <br /> the amount of moneys received from the proceeds of said bonds, and <br /> the expenditure of such funds for the purposes set out in this ordi- <br /> nance upon estimates and bills to be approved by the Council, except <br /> as herein otherwise provided. <br /> Section �. If any section, paragraph, clause or provi- <br /> sion. of this ordinance shall be held invalid, the invalidity of such <br /> section, para�raph, clause or provision shall not affect any of the <br /> other provisions of this ordinance. <br /> Section 16. This ordinance after its passage and signed <br /> as required by law, shall be published once in the DECATLTR DAILY <br /> REVIEW, a newspaper published in and having a general circulation <br /> -21- <br />