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Agenda - 03-02-2006-8bTA
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Agenda - 03-02-2006-8bTA
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Last modified
9/2/2008 1:38:17 AM
Creation date
8/29/2008 9:13:06 AM
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BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bTA
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Minutes - 20060302
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\Board of County Commissioners\Minutes - Approved\2000's\2006
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Notwithstanding the foregoing assignments, the Company will retain its <br />rights to notices, indemnification and payment of costs under the Financing <br />Contract and the Deed of Trust. <br />Section 5.02. Limited Obligation. Each Certificate will evidence a <br />proportionate and undivided ownership interest in Installment Payments. The <br />Certificates are payable solely from Installment Payments as, when and if the same <br />are recei~Ted by the Trustee, except to the extent payTable from the proceeds of the <br />Certificates, income from investments, and Net Proceeds as provided in this Trust. <br />Agreement and the Financing Contract, which Installment Payments and other <br />moneys have been pledged as provided herein to secure payment of the <br />Certificates. <br />ARTICLE VI <br />INVESTMENT OF MONEYS IN FUNDS <br />Section 6.01. In~~estments Authorized. <br />(a) Subject to the further provisions of this Article VI, the Trustee will <br />invest and reinvest moneys held by it hereunder, upon the written direction of a <br />County Representative, in Permitted Investments. Such investments, if registrable, <br />will be registered in the name of the Trustee or its assignee far the benefit of the <br />Owners and held by the Trustee. If the County does not provide the Trustee with <br />written direction as to any in~Testment or reinvestment provided for under this Trust <br />Agreement, the Trustee will invest or reins-rest such moneys in the North Carolina <br />Capital Management Trust (or its successor). <br />(b) The Trustee will invest and reinvest amounts on deposit from time to <br />time in the Project Fund only iri Permitted Investments having a yield not in excess <br />of the Restricted Yield to the extent any such amounts remain on deposit therein <br />(or remain on deposit in the Payment Fund after being transferred there pursuant to <br />Section 4.03) on any date following the later of (a} the third aruuversary of the <br />Closing Date or (b) 30 days from their deposit in the Project Fund. <br />(c) The Trustee may purchase or sell, to itself or to any affiliate, as <br />principal or agent, investments of funds held under this Trust Agreement. The <br />Trustee may act as purchaser or agent in the making or disposing of any <br />investment, and may make any investment through its bond or investment <br />department. <br />J3862v2 19 <br />
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