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Agenda - 03-02-2006-8bTA
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Agenda - 03-02-2006-8bTA
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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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of the funds held by it pursuant to this Trust Agreement with any other separate <br />fund or funds for investment purposes only; provided, however, that the Trustee <br />will separately account for all Funds or Accounts held by it under this Trust <br />Agreement. <br />Section 6.08. Tax Covenants. The County, the Company and the <br />Trustee covenant with the Owners that, notwithstanding any other provision of this <br />Trust Agreement, they ~~jill make no use or investment of the proceeds of the <br />Certificates v4-hich will cause the Certificates to be "arbitrage bonds" or "private <br />activity bonds" within the meaning of the Code. <br />Section 6.09. Information Concerning Investments. The Trustee ti~Jill <br />establish and maintain written records regarding investments made under this <br />Article VI, and ~~Till supply such information to the County at its request, including <br />information as to: {a) purchase date; (b) purchase price; (c) information <br />establishing that the purchase was at a fair market value as of the purchase date <br />{e.g., the published quoted bid by a dealer in such an investment on the purchase <br />date); (d) any accnied interest paid; (e) face amount; {f) coupon rate; {g) <br />periodicity of interest payments; (h) disposition price; (i) any accrued interest <br />received; and (j} disposition date. <br />Section 6.10. Restricted Yield Investments. The Trustee may invest <br />funds held hereunder without regard to yield despite any provision herein directing <br />investment with regard to the Restricted Yield provided that prior to making such <br />an investment, the Trustee receives an Opinion of Special Counsel that such an <br />investment will not adversely affect the exclusion from gross income that would <br />otherwise be applicable to interest components of Installment Payments. <br />ARTICLE VII <br />DISCHARGE OF TRUST AGREEMENT <br />Section 7.01. Certificates Deemed Paid; Discharge of Trust <br />Agreement. Any Certificate will be deemed paid for all purposes of this Trust <br />Agreement when (a) payment of the principal and interest with respect to such <br />Certificate to the due date of such principal and interest (whether at maturity, upon <br />prepayment or otherwise) either (i) has been made in accordance ~~Tith the terms of <br />the Certificates or {ii) has been provided for by irrevocably depositing with the <br />Trustee or other fiduciary in escrow (A) cash sufficient to make such payment or <br />{B) Federal Securities maturing as to principal and interest u1 such amounts and at <br />such times as will insLlre, without rein~restment, the availability of sufficient <br />moneys to make such payment (which will be evidenced or verified by a certificate <br />or other writing, in form and substance satisfactory to the Trustee, of a firm of <br />independent certified public accountants acceptable to the Trustee), and which are <br />93 362v2 21 <br />
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