106-83 Bonds for Hospial - Laserfiche WebLink

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in use and operation, including any one, part of, or combination of such classes of costs and expenses; and also means the costs of refunding Bonds, if the Legislative Authority determines that such refunding advances the purposes of the Hospital Facilities, whether or not such refunding is in conjunction with the acquisition or construction of additional Hospital Facilities. "Debt Service Fund" means the Debt Service Fund established under Section 8(a) hereof. "Eligible Investments" means any of the following: (i) any bonds or other obligations of the United States of America which, as to principal and interest, constitute direct obligations of or are guaran- teed by the United States of America, and any bonds, debentures, par- ticipation certificates, notes or other obligations of any agency or other corporation which has been or may hereafter be created by or pursuant to an Act of Congress of the United States as an agency or instrumentality thereof, the bonds, debentures, participation certifi- cates, notes or other obligations of which are unconditionally guaran- teed by the United States of America (the obligations described in this clause (i) being hereinafter referred to as "Government Securities"); (ii) obligations of the Federal National Mortgage Association, the Federal Intermediate Credit Corporation, the Federal Bank for Coopera- tives, Federal Land Banks or Federal Home Loan Banks (provided that the obligations described in this clause (ii) shall constitute Eligible Investments only if a Rating Service shall have assigned a rating to such obligations which is not lower than the rating assigned by such Rating Service to the Bonds then outstanding or if such obligations constitute Government Securities); (iii) certificates of deposit or time deposits of any bank or trust company, including the Trustee, which, to the extent not insured by the Federal Deposit Insurance Corporation, are secured by Eligible Investments described in clause (i) and (ii) above having a market value at all times at least equal to the uninsured amount of such deposit; (iv) investment agreements (which term shall not include repurchase agreements) with a bank or bank holding company rated "AA" or higher by a Rating Service; (v) repurchase agreements with banks or other financial institutions ("Repurchasers"), including the Trustee, provided that each such repurchase agreement (A) is in commercially reasonable form and is for a commercially reasonable period, and (B) results in transfer to the Trustee of legal title to, or the grant to the Trustee of a prior perfected security interest in, identified Government Securities which are free and clear of any claims by third parties and are segregated in a custodial or trust account held by a third party (other than the Repurchaser) as the agent solely of, or in trust solely for the benefit of, the Trustee, provided that Government Securities acquired pursuant to such repurchase agreements shall be valued at the lower of the then current market value of such Government Securities or the repurchase price thereof set forth in the applicable repurchase agreement; and (vi) general obligations of any State of the United States or any political subdivision of any State, other than the -5-