§ 8. Disposition of Moneys Derived From Certificates.

All moneys derived from the issuance of certificates hereunder other than the proceeds of such certificates as may be authorized to refund outstanding certificates shall be paid to the comptroller of the City of Orlando and shall be by him deposited in a bank account or accounts separate from all other municipal funds, and shall be used solely for the acquisition, furnishing and equipment of the building herein authorized and for the payment of the purchase price of a site for such building if the acquisition of a site is necessary. Such part of the proceeds as is considered necessary by the city council may be used for the payment of interest on the certificates of indebtedness during the period of construction, which period shall not exceed two years following the date of the certificates.

(Laws of Fla. ch. 26086(1949), § 8)