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with the Trustee (whether upon or prior to the maturity or the redemption date of such Bonds), <br />provided that if such Bonds are to be redeemed prior to the maturity thereof, notice of such <br />redemption shall have been given pursuant to Article III hereof, or provision satisfactory to the <br />Trustee shall have been made for the giving of such notice, all as provided in Article X hereof; <br />and (iii) Bonds in lieu of or in substitution for which other Bonds shall have been authenticated <br />and delivered by the Trustee pursuant to the terms of Section 2.07 pertaining to replacement of <br />Bonds. <br /> <br />Project Costs: the costs defined in Section 4.03, referring to Section 3.3 of the Lease. <br /> <br /> 9ualified Investments: obligations in which the Issuer is authorized by law to invest, <br />subject to the fur~er limitation that they also constitute one of the following: <br /> <br /> A. governmental bonds, notes, bills, mortgages ___(excluding high-risk <br />mortgage-backed securities), and other securities, which are direct obligations or are <br />guarameed or insured issues of the United States, its agencies, its instrumentalities, or <br />organizations created by an act of Congress; <br /> <br /> B. any security wh/ch is a general obligation of any state or local government <br />with taxing powers which is rated "A" or better by a national bond rating service; <br /> <br /> C. any security which is a revenue oblig~.tion of any state or local <br />government w/th taxing powers wkich is rated "AA" or better by a national bond rating <br />service; <br /> <br /> D. a general obligation of the Mirmesota housing finance agency which is a <br />moral obligation of the state of Minnesota and is rated "A" or better by. a national bond <br />rating agency; <br /> <br /> E. commercial paper issued by United States corporations or their Canadian <br />subsidiaries that is rated in the highest quality' category by at least two nationally <br />recognized rating agencies and matures in 270 days or less; <br /> <br /> F. time deposits that are fully insured by the Federal Deposit Insurance <br />Corporation or bankers acceptances of'United States banks; and <br /> <br /> G. agreements or contracts for guaranteed investment contracts if issued or <br />guaranteed by United States commercial banks, domestic branches of foreign banks, <br />United States insurance companies, or their Canadian subsidiaries. The credit quality of <br />the issuer's or guarantor's short- and long-term unsecured debt must be rated in one of the <br />two highest categories by a nationally recognized rating agency. Should the issuer's or <br />guarantor's credit quality be downgraded below "A", the govermnent entity must have <br />withdrawal fights. <br /> <br /> H. agreements or contracts for shares of a Minnesota joint powers inves~nent <br />trust whose investments are restricted to securities described in Minnesota Statutes, <br />Sections 118A.04 and 118A.05; ... <br /> <br />t'163903v I <br /> <br />83 <br /> <br /> <br />