COM 1109.000 2020-2022 - Laserfiche WebLink

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(b) Moneys in the Project Fund shall be invested in Authorized Investments which will by their terms mature, or in the case of an Investment Agreement are available without penalty, as close as practicable to the date the County estimates the moneys represented by the particular investment will be needed for withdrawal from the Project Fund. (c) The amount in the Reserve Account may be invested only in Authorized Investments which mature not later than five years from their date of purchase; provided that such amounts may be invested in an Investment Agreement to the final maturity of Bonds so long as such amounts may be withdrawn at any time, without penalty, for application in accordance with Section 3.7 hereof; and provided that no such Authorized Investment of amounts in the Reserve Account allocable to the Bonds shall mature later than the final maturity date of the Bonds. (d) Moneys in the Rebate Fund shall be invested only in Authorized Investments of the type described in clause (a) of the definition thereof which by their terms will mature, as nearly as practicable, on the dates such amounts are needed to be paid to the United States Government pursuant to Section 3.8 hereof or in Authorized Investments of the type described in clause (d) of the definition thereof. (e) In the absence of written investment directions from an Authorized County Representative, the Trustee shall invest solely in money market funds that meet the requirements specified in clause (d) of the definition of Authorized Investments and are invested solely in Federal Securities. (f) The Trustee shall sell, or present for redemption, any Authorized Investment whenever it may be necessary to do so in order to provide moneys to meet any payment or transfer to such funds and accounts or from such funds and accounts. For the purpose of determining at any given time the balance in any such funds and accounts, any such investments constituting a part of such funds and accounts shall be valued at their cost, except that amounts in the Reserve Account shall be valued at the market value thereof and marked to market on or before May 16 of each year. In making any valuations of investments hereunder, the Trustee may utilize computerized securities pricing services that may be available to it, including those available through its regular accounting system, and rely thereon. Notwithstanding anything herein to the contrary, the Trustee shall not be responsible for any loss from investments, sales or transfers undertaken in accordance with the provisions of this Indenture. The Trustee or an affiliate may act as principal or agent in connection with the acquisition or disposition of any Authorized Investments and shall be entitled to its customary fee therefor. Any Authorized Investments that are registrable securities shall be registered in the name of the Trustee or its nominee. (g) For investment purposes, the Trustee may commingle the funds and accounts established hereunder(other than the Rebate Fund)but shall account for each separately. (h) The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee hereunder. Section 3.12. Trustee Not Responsible for Losses; Brokerage Confirmations. The Trustee shall not be responsible for losses on investments if such investments are made in compliance with the provisions of this Indenture. The Trustee shall not be required to provide brokerage confirmations on investments to the County so long as the Trustee provides periodic 32