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77 <br /> which the County estimates those moneys are to be needed for their intended <br /> purposes. Investments will be considered as maturing on the date on which they are <br /> redeemable without penalty at the holder's option or the date on which the Trustee <br /> may require their repurchase without penalty pursuant to a repurchase agreement. <br /> Section 12.02. Held in Trust. The moneys and investments held by the <br /> Trustee under this Agreement are irrevocably held in trust for the benefit of the <br /> Owners, and those moneys, and any income or interest earned thereon, must be <br /> expended only as provided in this Agreement. To the extent permitted by law, those <br /> moneys and investments will not be subject to levy or attachment or lien by or for <br /> the benefit of any creditor of the Trustee or the County, other than the Owners. <br /> Section 12.03. Investments Part of Fund. Any income, profit or loss on <br /> the investment of moneys held by the Trustee under this Agreement must be <br /> credited to the respective fund to which those moneys are credited, except as <br /> otherwise provided in this Agreement. <br /> Section 12.04. Accounting. The Trustee must furnish to the County, not <br /> less frequently than monthly, an accounting of all investments made by the Trustee <br /> in all funds and accounts held by the Trustee. These accountings may be supplied in <br /> the form of the Trustee's customary statements. The Trustee must keep accurate <br /> records of all funds administered by it and of all Bonds paid and discharged. <br /> Although the County recognizes that it may obtain a broker confirmation or written <br /> statement containing comparable information at no additional cost, the County <br /> agrees that the Trustee is not required to issue broker confirmations of investments <br /> for any month for which the Trustee delivers a monthly statement. <br /> Section 12.05. Valuation. To determine the amount on deposit in any <br /> Fund or Account held under this Agreement, the Trustee must value any investment <br /> credited to a Fund or Account at its market value. The Trustee must make these <br /> valuations annually as of each June 30, beginning June 30, 2021, and at such <br /> additional times as this Agreement may require or as the County may request. The <br /> County may not make more than one request in a calendar month. <br /> Section 12.06. Disposition. The Trustee must sell, or present for <br /> redemption, and reduce to cash any investment in a Fund or Account whenever the <br /> cash balance in the Fund or Account is insufficient for its purposes. <br /> 46 <br />