Browse
Search
Agenda - 03-02-2006-8bTA
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2000's
>
2006
>
Agenda - 03-02-2006
>
Agenda - 03-02-2006-8bTA
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/2/2008 1:38:17 AM
Creation date
8/29/2008 9:13:06 AM
Metadata
Fields
Template:
BOCC
Date
3/2/2006
Document Type
Agenda
Agenda Item
8bTA
Document Relationships
Minutes - 20060302
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2006
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
52
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
(d) 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 lvith this <br />Section. <br />(e} Moneys u~•ill be invested in Permitted Investments having maturities <br />not extending beyond the date on which the County estimates such moneys are to <br />be needed for their intended purposes. Investments will be considered as maturing <br />on the date on which they are redeemable without penalty at the holder's option or <br />the date on which the Trustee may require their repurchase without penalty <br />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 <br />the O~~Tners, and such mone~rs, and an~j income or interest earned thereon, will be <br />expended only as provided in this Trust Agreement, and will not be subject to levy <br />or attachment or lien by or for the benefit of any creditor of the Company, the <br />Trustee or the County. <br />Section 6.03. Investments Part of Fund. Any income, profit or loss <br />on the investment of moneys held by the Trustee hereunder uTill be credited to the <br />respective fund to which such moneys are credited, except as otherwise provided <br />herein. <br />Section 6.04. Accounting. The Trustee will furnish to the County, not <br />less frequently than monthhT, an accounting of all investments made by the Tnistee <br />in all funds and accounts held by the Tnistee. Such accounting may be supplied in <br />the form of the Trustee's customary statements. The Trustee u~•ill keep accurate <br />records of all funds admiiustered by it and of all Certificates 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 ~~Till <br />~Talue all Permitted Investments credited to such Fund or Account at the market <br />value thereof. Such valuations will be made at least every six months and at such <br />additional times as the County may request, but in no event more frequently than <br />monthly. <br />Section 6.06. Disposition. The Trustee will sell, or present for <br />redemption, and reduce to cash any Permitted Investment in a Fund or Account at. <br />the best price obtainable whenever the cash balance in such Fund or Account is <br />insufficient for the purposes thereof. <br />Section 6.07. Commingling of Moneys in Funds. The Trustee, at its <br />sole discretion and upon a County Representative's appro~Tal, may commingle any <br />J3362v2 20 <br />
The URL can be used to link to this page
Your browser does not support the video tag.