J. MILLARD TAWES, Governor                           495

buildings into a separate and special fund to be used and applied in
payment of the cost thereof and in the maintenance, operation, and
depreciation thereof. The ordinance or resolution shall definitely fix
and determine the amount of revenue necessary to be set apart and
applied to the payment of principal and interest of the bonds, and
the proportion of the balance of the income and revenue to be set
aside as a proper and adequate depreciation account; and the re-
maining proportion of the balance shall be set aside for the reason-
able and proper operation and maintenance of the industrial building
or buildings.

(b) The rents to be charged for the use of the building or build-
ings shall be fixed and revised from time to time so as to be sufficient
to provide for payment of interest upon all bonds and to create a
sinking fund to pay the principal thereof when due, and to provide
for the operation and maintenance of the building or buildings and
an adequate depreciation account.

266H.

(a)  If a surplus is accumulated in the operating and maintenance
funds equal to the cost of maintaining and operating the industrial
building or buildings during the remainder of the calendar, operat-
ing or fiscal year, and during the succeeding like year, any excess over
such amount may be transferred at any time by the legislative body
of the municipality or county to the depreciation account, to be used
for improvements, extensions, or additions to the building or build-
ings.

(b)  The funds accumulating to the depreciation account shall be
expended in balancing depreciation in the industrial building or
buildings or in making new constructions, extensions or additions
thereto. Any such accumulations may be invested as the legislative
body of the municipality or county may designate, and if invested,
the income from such investment shall be carried into the deprecia-
tion account.

(C) UPON LIQUIDATION OF THE PROJECT OR THE CON-
VEYANCE OF THE PROPERTY UNDER THE TERMS OF THIS
SUB-HEADING, ALL FUNDS REMAINING IN THE DEPRECIA-
TION ACCOUNT OR OTHER SURPLUS FUNDS ACCRUING TO
THE PROJECT SHALL REVERT TO THE GENERAL FUNDS
OF THE MUNICIPALITY OR COUNTY.

266-I.

(a)  If the legislative body of the municipality or county finds that
the bonds authorized will be insufficient to accomplish the purpose
desired, additional bonds may be authorized and issued in the same
manner.

(b)  Any municipality or county acquiring an industrial building
or buildings pursuant to the provisions of this subheading at the time
of issuing the bonds for the acquisition, may provide for additional
bonds for rehabilitation, remodelling, extensions, and permanent im-
provements, to be placed in escrow and to be negotiated from time to
time as proceeds for that purpose may be necessary. Bonds placed in
escrow when negotiated, shall have equal standing with the bonds
of the same issue.