Agenda - Council - 08/13/2013 - Laserfiche WebLink

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ARTICLE VII INVESTMENT OF MONEY Any money held as part of the Revenue Fund, the Bond Fund, the Reserve Fund, the Costs of Issuance Fund, the Capital Improvement Fund, the Rebate Fund, or any other fund shall be invested and reinvested by the Trustee at the written direction of the Company Representative in Permitted Investments in accordance with the provisions of Section 3.2 of the Loan Agreement, except that investments in the Rebate Fund shall be made only in accordance with written directions of the Company or the Rebate Analyst. Any such investments shall be held in the name of the Trustee and by or under the control of the Trustee. The Trustee may make any and all such investments through its trust department or related companies. The Trustee shall sell and reduce to cash a sufficient amount of such investments in the trust funds whenever the cash balance in any such Fund is insufficient for a necessary transfer. The Issuer covenants and certifies to the Trustee and to and for the benefit of the Registered Owners of the Bonds from time to time Outstanding that so long as any of the Bonds remain Outstanding, it will not knowingly take any action so that moneys on deposit in any fund or account in connection with the Bonds, whether or not such moneys were derived from the proceeds of the sale of the Bonds or from any other sources, will be used in a manner which, to its knowledge, will cause the Bonds to be classified as "arbitrage bonds" within the meaning of Section 148 of the Code. Pursuant to such covenants, the Issuer obligates itself to comply, to the best of its knowledge, throughout the term of the issue of the Bonds with the requirements of Section 148 of the Code and any regulations promulgated thereunder. (The remainder ofthis page is intentionally left blank.) 33 5600797v1