12-13-2021 FINAL Packet - Laserfiche WebLink

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29 Funds (including the supporting schedules) is not reasonably consistent with the books and records of the Trustee or is otherwise not accurate or appropriate Section 4.9 Rebate Fund. Any provision hereof to the contrary notwithstanding, amounts deposited in or credited to the Rebate Fund shall be free and clear of any lien hereunder. If, in order to maintain the exclusion of interest on any Series of Bonds (including the Series 2022 Bonds) from gross income for federal income tax purposes under Section 103 of the Code, the Issuer is required to rebate portions of investment earnings to the United States government, the Issuer shall annually cause to be computed the amount required to be so rebated, or, if the provisions of Section 148(f)(4)(C)(vii) of the Code apply, the Issuer shall semiannually cause to be computed the amount of the penalty to be paid in lieu of rebate. Upon receipt of such computation, the Trustee shall at the direction of the Issuer deposit such amount in the Rebate Fund from the Construction Fund, the Expense Fund, the Debt Service Reserve Fund or investment earnings on the Bond Fund. The Trustee shall pay required rebate or penalties from the Rebate Fund as directed by the Issuer. Such payments shall be made by the Trustee without any further authorization or direction, other than as stated herein. The Issuer acknowledges that it shall direct the Trustee to make all payments required to be made by Section 148 of the Code. Section 4.10 Redemption and Purchase of Bonds. Whenever the amounts contained in the Bond Fund and Operation Fund are sufficient, together with any other funds deposited with the Trustee by the Issuer, to redeem, upon the next redemption date, all Bonds secured thereby then outstanding, the Trustee shall apply the amounts in such Funds to the redemption of such Bonds pursuant to Article V hereof. At the written request of an Authorized Issuer Representative delivered to the Trustee, the Trustee may remove funds from the Operation Fund to be used for the redemption of Bonds, or for the purchase of Bonds. Section 4.11 Trust Funds. All moneys and securities received by the Trustee under the provisions of this Indenture shall be trust funds under the terms hereof and shall not be subject to lien or attachment of any creditor of the Issuer, the Building Corporation, or of the Corporation. Such moneys shall be held in trust for the benefit of the Bondholders and applied in accordance with the provisions of this Indenture. Section 4.12 Investment. Moneys on deposit in the Funds established in this Article IV hereof shall be invested as provided in Section 6.5 hereof. (End of Article IV)