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refunds of State sales tax with respect to expenditures for Project Costs previously <br />paid far from Project Fund amounts and all other amounts paid to it far deposit in <br />the Project Fund. <br />(b) Subject to the limitations in paragraph (d) belouJ, the Trustee ujill <br />disburse moneys in the Project Fund from time to time, either to pay Project Costs <br />directly or to reimburse the County for previous expenditures for Project Costs, <br />upon receipt by the Trustee of a requisition substantially in the form of Exhibit C. <br />The Trustee may rely conclusively on such requisitions as authorization for such <br />payments and will have no duty or responsibility to verif~r any matters therein. <br />(c) Unless otherwise directed by the County, the Trustee will disburse <br />moneys from the Project Fund that are due to the County by wire transfer to such <br />bank account or accounts in the United States as the County may designate from <br />time to time by notice to the Trustee. <br />(d) The Trustee shall not, hov~Tever, be required to (but may in its <br />discretion} disburse any moneys from the Project Fund during the continuation of <br />anyT E~Tent of Default, except that the Trustee will make such disbursements if so <br />directed by the Insurer. <br />Section 4.03. Transfers of Unexpended Proceeds. Upon receipt of <br />the Completion Certificate, the Tnistee will withdraw all remaining moneys in the <br />Project Fund (other than any moneys to be retained therein pursuant to the <br />Completion Certificate) and deposit such moneys in the Payment Fund to be <br />applied to the payment of principal and interest ~~Tith respect to the 2006A <br />Certificates as directed by a County Representati~-~e. <br />Section 4.04. Other Funds and Accounts. The Trustee will establish <br />the following special funds and accounts, will keep the same separate and apart <br />from all other funds and moneys held by it, and will hold and administer the same <br />as provided herein: <br />(a) Orange County 2006 Public Improvement Projects Payment Fund, <br />and therein an Interest Account, a Principal Account and a Prepayment Account; <br />and <br />(b} Orange County 2006 Public Improvement Projects Net Proceeds <br />Fund. <br />Section 4.0~. Pa~~ment Fund. {a} The Trustee will deposit in the <br />Interest Account in the Payment Fund the amount specified in the certificate <br />J3862v2 15 <br />