Establishment and Application of Construction Fund

(A)The Depositary shall establish and maintain and hold in trust a separate fund designated as the “Construction Fund.” Amounts in the Construction Fund shall be used and withdrawn, as provided in THIS Section, solely for

(1)the purpose of implementing Infrastructure Improvement projects pursuant to the Act, and

(2)the payment of Costs of Issuance and premium or fees of any Credit Provider and fees and expenses of counsel to any Credit Provider. The Depositary shall disburse moneys in the Construction Fund for the purposes of clauses

(1)and

(2)of the preceding sentence only upon Requisition of the Government stating the person to whom payment is to be made, the amount to be paid, the purpose for which the obligation was incurred and that such payment is a proper and lawful charge against said fund. Upon receipt of a Certificate of the Government that amounts in said fund are no longer required for the purpose of said fund, said amounts shall be transferred to the Revenue Fund. COL4/6/2022 CH. 22 GENERAL FISCAL POLICIES AND CONTROLS

(B)The Government may provide in the Supplemental Indenture providing for the issuance of an additional Series of Bond

(1)that the unused proceeds of such additional Series as of a date specified by such Supplemental Indenture shall be used to redeem the Bonds of such Series, or

(2)that the proceeds of such additional Series shall otherwise be limited as to use or application.