Funds and Investments. The Board shall establish and maintain appropriate funds and accounts for the purposes set forth in this Agreement. All funds held by the Board shall be accounted for, managed and invested in compliance with Iowa law, including but not limited to, Chapters 12B and 12C, Iowa Code.
Funds and Investments. Section 3.1. There is hereby established and created a fund designated as the “Brownsburg Redevelopment Authority Acquisition Fund.” The Acquisition Fund shall consist of the Acquisition Account, the Bond Issuance Expense Account. The Trustee shall deposit the amount provided by Section 2.6 in the Bond Issuance Expense Account. The Trustee shall pay the cost of issuance of the bonds from such Account upon the presentation of either (i) a resolution of the Authority identifying to whom payment is due and the amount of such payment, (ii) an affidavit executed by the President or Vice President of the Authority or the Lessor Representative stating the character of the expenditure, the amount thereof, and to whom due, together with a statement of the creditor as to the amount owing or
Funds and Investments. Section 5.1. Establishment of Funds and Accounts 25 Section 5.2. Revenue Fund; Flow of Funds 26 Section 5.3. Administrative Costs Fund 27 Section 5.4. Debt Service Fund 27 Section 5.5. Debt Service Reserve Fund 27 Section 5.6. Debt Service Coverage Fund 28 Section 5.7. CFC Surplus Fund 29 Section 5.8. Construction Fund 30 Section 5.9. Costs of Issuance Fund 31 Section 5.10. Repair and Replacement Fund 31 Section 5.11. RAC O&M and Rent Reserve Fund 32 Section 5.12. Supplemental Security Fund 33 Section 5.13. Investment of Funds; Transfer of Investment Income 33 Section 5.14. Security for Uninvested Funds 35 Section 5.15. Standing Instructions Error! Bookmark not defined. .
Funds and Investments. Section. 3.1. There is hereby established and created a fund designated as the "Westfield Redevelopment Authority Acquisition Fund." The Acquisition Fund shall consist of the Acquisition Account, the Bond Issuance Expense Account and the Bond Interest Account. The Trustee shall deposit the amount provided by Section 2.6 in the Bond Issuance Expense Account. The Trustee shall pay the cost of issuance of the bonds from such Account upon the presentation of either (i) a resolution of the Board of Directors identifying to whom payment is due and the amount of such payment, (ii) an affidavit executed by any two officers of the Authority or the Lessor Representative stating the character of the expenditure, the amount thereof, and to whom due, together with a statement of the creditor as to the amount owing, or (iii) by wire transfer at closing to the entities listed in Exhibit B as authorized by the President and Secretary-Treasurer, said authorization evidenced by the execution of this Indenture. Upon the filing with the Trustee of an affidavit of two officers of the Authority or the Lessor Representative that all expenses of issuance of bonds have been paid, any funds remaining in such Account shall be transferred by the Trustee to the Acquisition Account. [The Trustee shall deposit in the Debt Service Reserve Fund proceeds of the bonds in an amount equal to the Reserve Requirement at the time of delivery of the bonds as set forth in Section 2.6.] After making the required deposits required to be deposited in the Bond Issuance Expense Account [and the Debt Service Reserve Fund], the Trustee shall deposit proceeds of the bonds into the Acquisition Account. The Trustee shall apply the Acquisition Account to the cost of acquisition of the Project described in Exhibit A, including, but not limited to, the following items:
Funds and Investments
