Agenda - 11-16-2010 - 4k - Laserfiche WebLink

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make such payment or (B) Federal Securities maturing as to principal and interest in such • amounts and at such times as will insure, without reinvestment, the availability of sufficient moneys to make such payment (which will be evidenced or verified by a certificate or other writing, in form and substance satisfactory to the Trustee, of an Appropriate Consultant acceptable to the Trustee), and which are not subject to redemption or purchase prior to maturity at the option of anyone other than the holder, and (b) all compensation and expenses of the Trustee pertaining to each Bond in respect of which such deposit is made have been paid or provided for to the Trustee's satisfaction. When a Bond is deemed paid, it will no longer be secured by or entitled to the benefits of this Trust Agreement, and all rights to payment of such Bonds will be limited to payment from moneys or Federal Securities under (a)(ii) above, and except that it may be transferred, exchanged, registered or replaced as provided in Article II. Notwithstanding the foregoing, no deposit under clause (a)(ii) above will be made until the County has furnished the Trustee an Opinion of Special Counsel to the effect that the deposit of such cash or Federal Securities will not cause the Bonds to become "arbitrage bonds" within the meaning of the Code. Also, if the Bond is to be prepaid prior to maturity, notice of prepayment of the Bond must be given in accordance with Article III for such deposit to be deemed a payment of such Bond. If the Bond, however, is not to be paid or prepaid within the next 60 days, the County must give the Trustee, in form satisfactory to the Trustee, irrevocable instructions (A) to provide notice, as soon as • practicable, in accordance with Article II, that the deposit required by (a)(ii) above has been made with the Trustee and that the Bond is deemed to be paid under this Article and stating the maturity or prepayment date upon which moneys are to be available for the payment of the principal with respect to the Bond, and (B) to give notice of prepayment not less than 30 nor more than 60 days prior to the prepayment date for such Bond as provided in Section 3.03. When all Outstanding Bonds are deemed paid under the foregoing provisions of this Section, the Trustee shall, upon request from the County, acknowledge the discharge of the lien of this Trust Agreement and the Deed of Trust and repay any excess amounts remaining on deposit in the Funds established under this Trust Agreement to the County; provided, however, that the obligations under Article II in respect of the transfer, exchange, registration, discharge from registration and replacement of Bonds will survive the discharge of the lien of this Trust Agreement, and further provided that in the case of a deposit made under (a)(ii) above, the Bonds will continue to constitute proportionate and undivided interests in Installment Payments arising under the Financing Contract. The County and the Company agree that no deposits shall be made or accepted and no use made of any such deposit that would cause any Bonds to be treated as "arbitrage bonds" within the meaning of the Code. • Section 7.02. Application of Trust Money. The Trustee will hold in trust money or Federal Securities deposited with it pursuant to Section 7.01 and will apply the deposited money and the money paid with respect to the Federal Securities in accordance is