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funds referenced in subsection (c)(5) hereof if such earnings in <br />any Bond Year are less than $100,000, shall, upon receipt by the <br />City, be deposited in the Investment Earnings Fund. In <br />addition, all interest earnings and profits on Gross Proceeds in <br />funds held by the City shall upon receipt, be deposited in the <br />Investment Earnings Fund. Annually, on the last day of each <br />Bond Year or on the preceding business day in the event that <br />such last day is not a business day, the Treasurer shall <br />transfer from the Investment Earnings Fund to the Excess <br />Investment Earnings Fund for purposes of ultimate rebate to the <br />United States an amount equal to Excess Investment Earnings, all <br />as more particularly described in this Section. Following the <br />transfer referenced in the preceding sentence, the Treasurer <br />shall transfer all amounts remaining in the Investment Earnings <br />Fund to the Redemption Fund to be used for the payment of Debt <br />Service on the Bonds on the next interest payment date and for <br />such purpose, Debt Service due from the City on such date shall <br />be credited by an amount equal to the amount so transferred. <br />(b) Definition of Excess Investment E <br />City shall calculate Excess Investment Earnings <br />with subsection (b) and shall assure payment of <br />to Excess Investment Earnings to the United Sta <br />with subsections (c) and (d). The term "Excess <br />Earnings" means an amount equal to the sum of: <br />(i) the excess of <br />g~. The <br />in accordance <br />an amount equal <br />tes in accordance <br />Investment <br />(A) the aggregate amount earned from the date of <br />delivery of the Bonds on all Nonpurpose Obligations in <br />which Gross Proceeds of the Bonds are invested (other <br />than amounts attributable to an excess described in <br />this paragraph (i), over <br />(B) the amount that would have been earned if the <br />Yield on such Nonpurpose Obligations (other than amounts <br />attributable to an excess described in this paragraph (i)) <br />had been equal to the Yield on the Bonds, plus <br />(ii) any income attributable to the excess described <br />in paragraph (i). <br />(c) Calculation of Excess Investment Earnings. Prior <br />to the last day of the first Bond Year, the City shall calculate <br />the Excess Investment Earnings referenced in paragraph (i) of <br />5 <br />