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No. 1094 amending resolution no. 1065 which amended resolution no. 1054 regarding the issuance of tax increment revenue refunding bonds
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No. 1094 amending resolution no. 1065 which amended resolution no. 1054 regarding the issuance of tax increment revenue refunding bonds
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Service, Inc. or any successors thereto; <br />or (B) (i) which are fully secured as to <br />principal and interest and redemption <br />premium, if any, by a fund consisting <br />only of cash or obligations described in <br />paragraph (1) above, which fund may be <br />applied only to the payment of such <br />principal of and interest and redemption <br />premium, if any, on such bonds or other <br />3 obligations on the maturity date or dates <br />thereof or the specified redemption date <br />or dates pursuant to such irrevocable <br />instructions, as appropriate, and (ii) <br />which fund is sufficient, as verified by <br />a nationally recognized independent <br />certified public accountant, to pay <br />principal of and interest and redemption <br />premium, if any, on the bonds or other <br />obligations described in this paragraph <br />on the maturity date or dates thereof or <br />on the redemption date or dates specified <br />in the irrevocable instructions referred <br />to above, as appropriate; <br />(7) investment agreements approved in writing <br />by AMBAC Indemnity (supported by <br />appropriate opinions of counsel) with <br />notice to Standard & Poor's Corporation; <br />and <br />(8) other forms of investments approved in <br />writing by AMBAC with notice to Standard <br />& Poor's Corporation. <br />The value of the above investments shall be <br />determined as follows: <br />"Value ", which shall be determined as of the <br />end of each month, means that the value of any <br />investments shall be calculated as follows: <br />(1) as to investments the bid and asked <br />prices of which are published on a <br />regular basis in The Wall Street Journal <br />(or, if not there, then in The New York <br />Times): the average of the bid and asked <br />prices for such investments so published <br />on or most recently prior to such time of <br />determination; <br />(2) as to investments the bid and asked <br />prices of which are not published on a <br />regular basis in The Wall Street Journal <br />S. <br />
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