86-064 Ordinance - Laserfiche WebLink

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t. , with respect to the issuance of the Bonds is authorized and directed, alone or in conjunction with any of the toregoing or with any other officer, employee, consultant or agent of the Issuer, or the Borrowers, and upon receipt of indemnities from the Borrowers, to give an appropriate certificate on behalt ot the Issuer, for inclusion in the transcript of proceedinqs for the Bonds, settinq forth the facts, estimates and circumstances and reasonable expec- tations pertaining to such Section 103(c) and regulations thereunder. Section 10. Investment of Bona Fund, Pro]ect Fund and Reserve Fund Money. Moneys in the Bond Fund, the Project Fund and the Reserve Fund shall be invested and reinvested by the Trustee in any Eliqible Investments, in accordance with and subject to any written orders, or oral orders confirmed promptly in writing, of the Authorized Borrower Representative with respect thereto, provided that investments of moneys in the Bond Fund shall mature or be redeemable at the option of the Trustee at the times and in the amounts necessary to provide moneys hereunder to pay Bond Service Charqes as they fall due at stated maturity or by amortization or redemption, and that each investment of moneys in the Project Fund shall in any event mature or be redeemable at the option of the Trustee at such time as may be necessary to make timely payments from such Fund. Subject to any such orders with respect thereto, the Trustee may from time to time sell such investments and reinvest the proceeds therefrom in Eligible Investments maturing or redeemable as aforesaid. Any such investments may be purchasea from the Trustee or any of its affiliates. The Trustee shall sell or redeem investments standinq to the credit ot the Bond Fund to produce sufficient moneys hereunder at the times required for the purposes of payinq Bond Service Charqes when due as aforesaid. Except as otherwise provided in Section 8(a) hereof, an investment made from moneys credited to the Bond Fund, Project Fund or Reserve Fund shall constitute part of that respective Fund and such respective Fund shall be creditea witn all proceeds of sale and income or loss from such investment, provided further that all investments of any moneys credited to the Principal Account or the Interest Account ot tne Bond Fund shall constitute part of that respective Account, and such respective Account shall be credited witn all proceeas of sale and income or loss from such investment. The Borrowers have covenanted in the Agreement to restrict the use of the proceeds of the Bonds so that they will not constitute arbitrage bonds under the Code. -20-