Common use of Deposit and Investment of Moneys in Funds Clause in Contracts

Deposit and Investment of Moneys in Funds. Moneys in the Debt Service Fund, the Interest Account, the Principal Account, the Reserve Account, the Administrative Expense Account, the Redemption Account, the Surplus Account and the Costs of Issuance Fund shall be invested by the Trustee in Permitted Investments as directed by the Administrator in the Written Request of the Administrator filed with the Trustee, except that moneys in the Reserve Account shall not be invested in Permitted Investments having a maturity of more than five (5) years, unless any such Permitted Investment is described in clause (g) of the definition thereof. In the absence of any such Written Request of the Administrator, the Trustee shall invest any such moneys in Permitted Investments described in clause (d) of the definition thereof, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Written Request of the Administrator specifying a specific money market fund and, if no such Written Request of the Administrator is so received, the Trustee shall hold such moneys uninvested. The Trustee shall be entitled to rely conclusively upon the written instructions of the Administrator directing investments in Permitted Investments as to the fact that each such investment is permitted by the laws of the State, and shall not be required to make further investigation with respect thereto. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All interest or gain derived from the investment of amounts in any of the funds or accounts held by the Trustee hereunder shall be retained in the respective fund or account from which the investment was made. The Trustee may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges therefor. The Trustee shall incur no liability for losses arising from any investments made at the direction of the Authority or otherwise made in accordance with this Section. For investment purposes only, the Trustee may commingle the funds and accounts established hereunder, but shall account for each separately. The Authority and the Administrator acknowledge that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Administrator the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, the Authority and the Administrator specifically waive receipt of such confirmations to the extent permitted by law. The Authority and the Administrator further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee will furnish the Administrator monthly cash transaction statements which shall include detail for all investment transactions made by the Trustee hereunder. Upon the Administrator’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. All moneys held by the Trustee shall be held in trust, but need not be segregated from other funds unless specifically required by this Indenture. Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest on any moneys received by it, but shall be liable only to account for earnings derived from funds that have been invested. Investments of funds on deposit in the Reserve Account shall be valued on _ of each year at their market value.

Deposit and Investment of Moneys in Funds. Moneys Subject in all respects to the Debt Service Fundprovisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Interest AccountFiscal Agent, the Principal Account, the Reserve Account, the Administrative Expense Account, the Redemption Account, the Surplus Account and the Costs of Issuance Fund shall be invested by the Trustee Fiscal Agent in Permitted Investments Investments, as directed by the Administrator in the Written Request of the Administrator pursuant to an Officer’s Certificate filed with the Trustee, except that moneys Fiscal Agent at least two (2) Business Days in the Reserve Account shall not be invested in Permitted Investments having a maturity of more than five (5) years, unless any such Permitted Investment is described in clause (g) advance of the definition thereofmaking of such investments. In the absence of any such Written Request of the AdministratorOfficer’s Certificate, the Trustee Fiscal Agent shall invest any such moneys in Permitted Investments described in clause (dvii) of the definition thereofdefinition, shall hold such moneys uninvested and notify the Finance Director that it is doing so until further direction is received from the Finance Director. Subject in all respects to the provisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Finance Director shall be invested by the Finance Director in any lawful investments that the City may make, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Written Request of the Administrator specifying a specific money market fund and, if no such Written Request of the Administrator is so received, the Trustee shall hold such moneys uninvested. The Trustee shall be entitled to rely conclusively upon the written instructions of the Administrator directing investments in Permitted Investments as to the fact that each such investment is permitted by the laws of the State, and shall not be required to make further investigation with respect thereto. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All , subject, however, to the requirements of this Agreement for transfer of interest or gain derived earnings and profits resulting from the investment of amounts in any of the funds or accounts held by the Trustee hereunder shall be retained in the respective fund or account from which the investment was madeand accounts. The Trustee Fiscal Agent may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges thereforinvestment. The Trustee Fiscal Agent shall not incur no any liability for losses arising from any investments made at pursuant to this Section. Any losses arising from any investments made pursuant to this Section shall be offset against interest earnings and profits retained in the direction same fund. Except as otherwise provided in the next sentence, all investments of amounts deposited in any fund or account created by or pursuant to this Agreement, or otherwise containing gross proceeds of the Authority Bonds (within the meaning of Section 148 of the Code), shall be acquired, disposed of, and valued (as of the date that valuation is required by this Agreement or otherwise made the Code) at Fair Market Value. Investments in funds or accounts (or portions thereof) that are subject to a yield restriction under applicable provisions of the Code and (unless valuation is undertaken at least annually) investments in the Reserve Fund shall be valued by the City at their present value (within the meaning of Section 148 of the Code). For purposes of any Fair Market Value determination hereunder, the Fiscal Agent shall be entitled to conclusively rely on an Officer’s Certificate of the City and shall be fully protected in relying thereon. Investments in any and all funds and accounts may be commingled in a separate fund or funds for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in or to the credit of particular funds or accounts of amounts received or held by the Fiscal Agent or the Finance Director hereunder, provided that the Fiscal Agent or the Finance Director, as applicable, shall at all times account for such investments strictly in accordance with this Section. For investment purposes only, the Trustee may commingle the funds and accounts established hereunder, but shall account for each separatelyto which they are credited and otherwise as provided in this Agreement. The Authority Fiscal Agent or the Finance Director, as applicable, shall sell or present for redemption, any investment security whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such investment security is credited and neither the Administrator acknowledge Fiscal Agent nor the Finance Director shall be liable or responsible for any loss resulting from the acquisition or disposition of such investment security in accordance herewith. The City acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Administrator City the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, the Authority and the Administrator City specifically waive waives receipt of such confirmations to the extent permitted by law. The Authority and the Administrator further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee Fiscal Agent will furnish the Administrator monthly City periodic cash transaction statements which shall include detail for all investment transactions made by the Trustee Fiscal Agent hereunder. Upon the Administrator’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. All moneys held by the Trustee shall be held in trust, but need not be segregated from other funds unless specifically required by this Indenture. Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest on any moneys received by it, but shall be liable only to account for earnings derived from funds that have been invested. Investments of funds on deposit in the Reserve Account shall be valued on _ of each year at their market value.

Deposit and Investment of Moneys in Funds. Moneys Subject in all respects to the Debt Service Fundprovisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Interest AccountFiscal Agent, the Principal Account, the Reserve Account, the Administrative Expense Account, the Redemption Account, the Surplus Account and the Costs of Issuance Fund shall be invested by the Trustee Fiscal Agent in Permitted Investments Investments, as directed by the Administrator in the Written Request of the Administrator pursuant to an Officer's Certificate filed with the Trustee, except that moneys Fiscal Agent at least two (2) Business Days in the Reserve Account shall not be invested in Permitted Investments having a maturity of more than five (5) years, unless any such Permitted Investment is described in clause (g) advance of the definition thereofmaking of such investments. In the absence of any such Written Request of the AdministratorOfficer's Certificate, the Trustee Fiscal Agent shall invest any such moneys in Permitted Investments described in clause (dvii) of the definition thereofthereof which by their terms mature prior to the date on which such moneys are required to be paid out hereunder provided, however, that any such investment shall be made by the Fiscal Agent only if, prior to the date on which such investment is to be made, the Fiscal Agent shall have received an Officer’s Certificate specifying a specific money market fund and, if no such an Officer’s Certificate is so received, the Fiscal Agent shall hold such moneys uninvested and notify the Treasurer or Finance Director that it is doing so until further direction is received from the Treasurer or Finance Director. Subject in all respects to the provisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Treasurer or Finance Director shall be invested by the Treasurer or Finance Director in any lawful investments that the City may make, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Written Request of the Administrator specifying a specific money market fund and, if no such Written Request of the Administrator is so received, the Trustee shall hold such moneys uninvested. The Trustee shall be entitled to rely conclusively upon the written instructions of the Administrator directing investments in Permitted Investments as to the fact that each such investment is permitted by the laws of the State, and shall not be required to make further investigation with respect thereto. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All , subject, however, to the requirements of this Agreement for transfer of interest or gain derived earnings and profits resulting from the investment of amounts in any of the funds or accounts held by the Trustee hereunder shall be retained in the respective fund or account from which the investment was madeand accounts. The Trustee Fiscal Agent, Treasurer or Finance Director may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges thereforinvestment. The Trustee Neither the Fiscal Agent, the Treasurer or the Finance Director shall incur no any liability for losses arising from any investments made at pursuant to this Section. Any losses arising from any investments made pursuant to this Section shall be offset against interest earnings and profits retained in the direction same fund. Except as otherwise provided in the next sentence, all investments of amounts deposited in any fund or account created by or pursuant to this Agreement, or otherwise containing gross proceeds of the Authority Bonds (within the meaning of Section 148 of the Code), shall be acquired, disposed of, and valued (as of the date that valuation is required by this Agreement or otherwise made the Code) at Fair Market Value. For purposes of any Fair Market Value determination hereunder, the Fiscal Agent shall be entitled to conclusively rely on an Officer's Certificate of the City and shall be fully protected in relying thereon. Investments in funds or accounts (or portions thereof) that are subject to a yield restriction under applicable provisions of the Code and (unless valuation is undertaken at least annually) investments in the Reserve Fund shall be valued by the City at their present value (within the meaning of Section 148 of the Code). Investments in any and all funds and accounts may be commingled in a separate fund or funds for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in or to the credit of particular funds or accounts of amounts received or held by the Fiscal Agent or the Treasurer hereunder, provided that the Fiscal Agent or the Treasurer, as applicable, shall at all times account for such investments strictly in accordance with this Section. For investment purposes only, the Trustee may commingle the funds and accounts established hereunder, but shall account for each separatelyto which they are credited and otherwise as provided in this Agreement. The Authority Fiscal Agent or the Treasurer, as applicable, shall sell or present for redemption, any investment security whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such investment security is credited and neither the Administrator acknowledge Fiscal Agent nor the Treasurer shall be liable or responsible for any loss resulting from the acquisition or disposition of such investment security in accordance herewith. The City acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Administrator City the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, the Authority and the Administrator City specifically waive waives receipt of such confirmations to the extent permitted by law. The Authority and the Administrator further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee Fiscal Agent will furnish the Administrator monthly City periodic cash transaction statements which shall include detail for all investment transactions made by the Trustee Fiscal Agent hereunder. Upon the Administrator’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. All moneys held by the Trustee shall be held in trust, but need not be segregated from other funds unless specifically required by this Indenture. Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest on any moneys received by it, but shall be liable only to account for earnings derived from funds that have been invested. Investments of funds on deposit in the Reserve Account shall be valued on _ of each year at their market value.

Deposit and Investment of Moneys in Funds. Moneys Subject in all respects to the Debt Service Fundprovisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Interest AccountFiscal Agent, the Principal Account, the Reserve Account, the Administrative Expense Account, the Redemption Account, the Surplus Account and the Costs of Issuance Fund shall be invested by the Trustee Fiscal Agent in Permitted Investments Investments, as directed by the Administrator in the Written Request of the Administrator pursuant to an Officer's Certificate filed with the Trustee, except that moneys Fiscal Agent at least two (2) Business Days in the Reserve Account shall not be invested in Permitted Investments having a maturity of more than five (5) years, unless any such Permitted Investment is described in clause (g) advance of the definition thereofmaking of such investments. In the absence of any such Written Request of the AdministratorOfficer's Certificate, the Trustee Fiscal Agent shall invest any such moneys in Permitted Investments described in clause (dvii) of the definition thereofthereof which by their terms mature prior to the date on which such moneys are required to be paid out hereunder provided, however, that any such investment shall be made by the Fiscal Agent only if, prior to the date on which such investment is to be made, the Fiscal Agent shall have received an Officer’s Certificate specifying a specific money market fund and, if no such Officer’s Certificate is so received, the Fiscal Agent shall hold such moneys uninvested and notify the Treasurer or Finance Director that it is doing so until further direction is received from the Treasurer or Finance Director. Subject in all respects to the provisions of Section 6.02, moneys in any fund or account created or established by this Agreement and held by the Treasurer shall be invested by the Treasurer in any lawful investments that the City may make, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder; provided, however, that any such investment shall be made by the Trustee only if, prior to the date on which such investment is to be made, the Trustee shall have received a Written Request of the Administrator specifying a specific money market fund and, if no such Written Request of the Administrator is so received, the Trustee shall hold such moneys uninvested. The Trustee shall be entitled to rely conclusively upon the written instructions of the Administrator directing investments in Permitted Investments as to the fact that each such investment is permitted by the laws of the State, and shall not be required to make further investigation with respect thereto. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All , subject, however, to the requirements of this Agreement for transfer of interest or gain derived earnings and profits resulting from the investment of amounts in any of the funds or accounts held by the Trustee hereunder shall be retained in the respective fund or account from which the investment was madeand accounts. The Trustee Fiscal Agent, Treasurer or Finance Director may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges thereforinvestment. The Trustee Neither the Fiscal Agent, the Treasurer or the Finance Director shall incur no any liability for losses arising from any investments made at pursuant to this Section. Any losses arising from any investments made pursuant to this Section shall be offset against interest earnings and profits retained in the direction same fund. Except as otherwise provided in the next sentence, all investments of amounts deposited in any fund or account created by or pursuant to this Agreement, or otherwise containing gross proceeds of the Authority Bonds (within the meaning of Section 148 of the Code), shall be acquired, disposed of, and valued (as of the date that valuation is required by this Agreement or otherwise made the Code) at Fair Market Value. Investments in funds or accounts (or portions thereof) that are subject to a yield restriction under applicable provisions of the Code and (unless valuation is undertaken at least annually) investments in the Reserve Fund shall be valued by the City at their present value (within the meaning of Section 148 of the Code). For purposes of any Fair Market Value determination hereunder, the Fiscal Agent shall be entitled to conclusively rely on an Officer's Certificate of the City and shall be fully protected in relying thereon. Investments in any and all funds and accounts may be commingled in a separate fund or funds for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in or to the credit of particular funds or accounts of amounts received or held by the Fiscal Agent or the Treasurer hereunder, provided that the Fiscal Agent or the Treasurer, as applicable, shall at all times account for such investments strictly in accordance with this Section. For investment purposes only, the Trustee may commingle the funds and accounts established hereunder, but shall account for each separatelyto which they are credited and otherwise as provided in this Agreement. The Authority Fiscal Agent or the Treasurer, as applicable, shall sell or present for redemption, any investment security whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such investment security is credited and neither the Administrator acknowledge Fiscal Agent nor the Treasurer shall be liable or responsible for any loss resulting from the acquisition or disposition of such investment security in accordance herewith. The City acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Administrator City the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, the Authority and the Administrator City specifically waive waives receipt of such confirmations to the extent permitted by law. The Authority and the Administrator further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee Fiscal Agent will furnish the Administrator monthly City periodic cash transaction statements which shall include detail for all investment transactions made by the Trustee Fiscal Agent hereunder. Upon the Administrator’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. All moneys held by the Trustee shall be held in trust, but need not be segregated from other funds unless specifically required by this Indenture. Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest on any moneys received by it, but shall be liable only to account for earnings derived from funds that have been invested. Investments of funds on deposit in the Reserve Account shall be valued on _ of each year at their market value.

Deposit and Investment of Moneys in Funds. Moneys in any fund or account created or established by this Indenture and held by the Debt Service Fund, the Interest Account, the Principal Account, the Reserve Account, the Administrative Expense Account, the Redemption Account, the Surplus Account and the Costs of Issuance Fund Trustee shall be invested by the Trustee in Permitted Investments Investments, as directed by the Administrator in the Written Request pursuant to a certificate of the Administrator an Authorized Officer filed with the Trustee, except that moneys Trustee at least two (2) Business Days in the Reserve Account shall not be invested in Permitted Investments having a maturity of more than five (5) years, unless any such Permitted Investment is described in clause (g) advance of the definition thereofmaking of such investments. In the absence of any such Written Request certificate of the Administratoran Authorized Officer, the Trustee shall invest invest, to the extent reasonably practicable, any such moneys in Permitted Investments described in clause (dg) of the definition thereofthereof in Section 1.03, which by their terms mature prior to the date on which such moneys are required to be paid out hereunder; provided, however, that . Moneys in any such investment fund or account created or established by this Indenture and held by the CFD Administrator shall be made invested by the Trustee only ifCFD Administrator in any lawful investment for City funds or in any Permitted Investment, which in any event by its terms matures prior to the date on which such investment is moneys are required to be made, the Trustee shall have received a Written Request of the Administrator specifying a specific money market fund and, if no such Written Request of the Administrator is so received, the Trustee shall hold such moneys uninvested. The Trustee shall be entitled to rely conclusively upon the written instructions of the Administrator directing investments in Permitted Investments as to the fact that each such investment is permitted by the laws of the State, and shall not be required to make further investigation with respect theretopaid out hereunder. Obligations purchased as an investment of moneys in any fund shall be deemed to be part of such fund or account. All , subject, however, to the requirements of this Indenture for transfer of interest or gain derived earnings and profits resulting from the investment of amounts in funds and accounts. Whenever in this Indenture any of the funds or accounts held moneys are required to be transferred by the Trustee hereunder shall City to the Trustee, such transfer may be retained in the respective fund or account from which the investment was madeaccomplished by transferring a like amount of Permitted Investments. The Trustee and its affiliates or the CFD Administrator may act as sponsor, advisor, depository, principal or agent in the acquisition or disposition of any investment and may impose its customary charges thereforinvestment. The Neither the Trustee nor the CFD Administrator shall incur no any liability for losses arising from any investments made pursuant to this Section. The Trustee shall not be required to determine the legality of any investments. Investments in any and all funds and accounts may be commingled in a separate fund or funds for purposes of making, holding and disposing of investments, notwithstanding provisions herein for transfer to or holding in or to the credit of particular funds or accounts of amounts received or held by the Trustee or the CFD Administrator hereunder, provided that the Trustee or the CFD Administrator, as applicable, shall at the direction of the Authority or otherwise made all times account for such investments strictly in accordance with this Section. For investment purposes only, the Trustee may commingle the funds and accounts established hereunder, but shall account for each separatelyto which they are credited and otherwise as provided in this Indenture. The Authority Trustee or the CFD Administrator, as applicable, shall sell at Fair Market Value, or present for redemption, any investment security whenever it shall be necessary to provide moneys to meet any required payment, transfer, withdrawal or disbursement from the fund or account to which such investment security is credited and neither the Trustee nor the CFD Administrator acknowledge shall be liable or responsible for any loss resulting from the acquisition or disposition of such investment security in accordance herewith. The City acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the Administrator City the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, the Authority and the Administrator City specifically waive waives receipt of such confirmations to the extent permitted by law. The Authority and the Administrator further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee will furnish the Administrator monthly City periodic cash transaction statements which shall include detail for all investment transactions made by the Trustee hereunder. Upon the Administrator’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. All moneys held by the Trustee shall be held in trust, but need not be segregated from other funds unless specifically required by this Indenture. Except as specifically provided in this Indenture, the Trustee shall not be liable to pay interest on any moneys received by it, but shall be liable only to account for earnings derived from funds that have been invested. Investments of funds on deposit in the Reserve Account shall be valued on _ of each year at their market value.