RES 94045A - Laserfiche WebLink

hereby instructs the Trustee to invest any available amounts in Permitted Investments described in clause (vi) of the definition thereof. (b) Except as otherwise set forth in written instructions from the Authority or the City in accordance with the provisions of aNon-Arbitrage Certificate, the Trustee shall deposit all Investment Earnings into the Reserve Fund [o the extent amounts on deposit therein are less than the Reserve Requirement, and thereafter shall deposit such Investment Earnings to the Payment Fund as a credit towards the next Lease Payment. (c) The Trustee may act as principal or agent in making or disposing of any investment. The Trustee shall not be liable for any loss resulting from any investment pursuant to this Section, except as specifically provided herein for its negligence or willful misconduct. (d) The Trustee shall mail quarterly statements of account to each of the City. (e) The Trustee may, and upon the written request of the Authority shall, commingle any of the funds held by it pursuant hereto into a sepazate fund or funds for investment purposes only; provided, however, that all funds or accounts held by the Trustee under the Trust Agreement shall be accounted for separately, notwithstanding such commingling by the Trustee. (f) The funds on deposit in the Payment Fund shall be invested in Permitted Investments, maturing or available for liquidation without penalty on or before the date such funds are needed. Section 306. Valuation of Investments. For the purpose of determining the amount in any fund, all Permitted Investments credited to such fund shall bevalued at market value, exclusive of accrued interest. Valuation shall occur no less oRen than annually or more frequently then monthly, and upon any draw on the Reserve Fund. Section 307. Rebate Fund. (a) Establishment and Deposits. The Trustee is hereby authorized to establish, when directed by the City or the Authority, a special fund designated as the "Rebate Fund," and within the Rebate Fund shall establish a Rebate Account (the "Rebate Account") and an Earnings Account (the "Earnings Account"). All money at any time received from the Authority which the Authority instructs the Trustee to deposit in the Rebate Fund shall be held by the Tmstee in trust, to the extent required to satisfy the Rebate Requirement (as defined in the Authority's Nonazbitrage Certificate), for payment to the United States Treasury. All amounts deposited in or on deposit in the Rebate Fund shall be governed by this 307 and by the provisions of the Rebate Memorandum provided to the Authority (the "Rebate 13 440fi901M.IAl