Laserfiche WebLink
~ime the moneys in all Trust Funds exceed, (i) amounts invested for an initial temporary period <br />until the moneys are needed for the purpose for which the Bonds were issued, (ii) investments of <br />a bona fide debt service fund, and (ii/) investments of a reserve which meet the requirement of <br />Section t48(d)(1) of the Code, then moneys in excess of such amounts shall be invested at the <br />direction of the City pursuant to Section 3.8 of the Lease in (A) bonds issned by the United <br />States Treasury, (B) other investments permitted under regulations, or (C) obligations which are <br />(a) not issued by, or guaranteed by, or insured by, the United States or any agency or <br />instrumentality thereof or (0) not federally insured deposits or accounts, all within the meaning <br />of Section 149(b) of the Code. The Trustee shall not knowingly take any action or do anything <br />the effect of which shall be to cause the Bonds to "federally guaranteed" with.in the meaning of <br />Section 149(0) of the Code. <br /> <br /> Section 5.07 Computation of Balances in Trust Fund. In Computing the assets of any <br />Trust Fund ~stablished hereunder, investments and accrued but unpaid interest thereon shall be <br />deemed a part thereof, and such investments, other than in the Reserve Fund, shall be valued at <br />par value, or at the redemption price thereof, if then redeemable at the option of the holder. <br />Investments held in the Reserve Fund shall be valued at market value which shall be calculated <br />annually as of June 1, commencing June 1, 2006. <br /> <br />100 <br /> <br />1763903vl 30 <br /> <br /> <br />