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(a) Subject to the further provisions of this Article VI, the Trustee will invest <br />and reinvest moneys held by it hereunder, upon the written direction of a County <br />Representative, in Permitted Investments. Such investments, if registrable, will be <br />registered in the name of the Trustee or its assignee for the benefit of the Owners and <br />held by the Trustee. If the County does not provide the Trustee with written direction as <br />to any investment or reinvestment provided for under this Trust Agreement, the Trustee <br />will invest or reinvest such moneys in the North Carolina Capital Management Trust (or <br />its successor). <br />(b) The Trustee may purchase or sell, to itself or to any affiliate, as principal or <br />agent, investments of funds held under this Trust Agreement. The Trustee may act as <br />purchaser or agent in the making or disposing of any investment, and may make any <br />investment through its bond or investment department. <br />(c) The Trustee will not be responsible or liable for any loss suffered in <br />connection with any investment of funds made by it in accordance with this Section. <br />(d) The County will direct the investment and reinvestment of all moneys in <br />Permitted Investments having maturities not extending beyond the date on which the <br />County estimates such moneys are to be needed for their intended purposes. Investments <br />• will be considered as maturing on the date on which they are redeemable without penalty <br />at the holder's option or the date on which the Trustee may require their repurchase <br />without penalty pursuant to a repurchase agreement. <br />Section 6.02. Held in Trust. The moneys and investments held by the <br />Trustee under this Trust Agreement are irrevocably held in trust for the benefit of the <br />Owners, and such moneys, and any income or interest earned thereon, will be expended <br />only as provided in this Trust Agreement, and will not be subject to levy or attachment or <br />lien by or for the benefit of any creditor of the Company, the Trustee or the County, other <br />than the Owners. <br />Section 6.03. Investments Part of Fund. Any income, profit or loss on the <br />investment of moneys held by the Trustee under this Trust Agreement will be credited to <br />the respective fund to which such moneys are credited, except as otherwise provided in <br />this Trust Agreement. <br />Section 6.04. Accounting. The Trustee will furnish to the County, not less <br />frequently than monthly, an accounting of all investments made by the Trustee in all <br />funds and accounts held by the Trustee. Such accounting may be supplied in the form of <br />the Trustee's customary statements. The Trustee will keep accurate records of all funds <br />• administered by it and of all Bonds paid and discharged. <br />Section 6.05. Valuation. For the purpose of determining the amount on <br />deposit in any Fund or Account held under this Trust Agreement, the Trustee will value <br />all Permitted Investments credited to such Fund or Account at the market value thereof. <br />16 <br />