Common use of Investment of Fund Moneys Clause in Contracts

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Indenture, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) and the Rebate Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the Indenture). The Company will not issue, or permit to be issued on its behalf, any instructions for the investments of any moneys in the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result of any such investment being made in accordance therewith, the Series 1996B Bonds would be considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionally, the Issuer and the Company will continually comply with all provisions of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the Issuer with, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the IDB Indenture, (ii) to pay Unsurrendered Bonds (as defined in the IDB Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) ), the Rebate Fund and the Rebate Construction Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the IDB Indenture). The Company will not issue, or permit to be issued on its behalf, any instructions for the investments of any moneys in the Construction Fund, the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result of any such investment being made in accordance therewith, the Series 1996B IDB Bonds would be considered "“arbitrage bonds" ” within the meaning of Section 148 of the Code or "“hedge bonds" ” within the meaning of Section 149(g) of the Code. Additionally, the Issuer IDB and the Company will continually comply with all provisions of the Code necessary in order to prevent the Series 1996B IDB Bonds from being considered "“arbitrage bonds" ” within the meaning of Section 148 of the Code or "“hedge bonds" ” within the meaning of Section 149(g) of the Code. Any officer of the Issuer IDB having responsibility for issuing the Series 1996B IDB Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer IDB pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the IDB Bonds, setting forth the reasonable expectations of the Issuer IDB as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B IDB Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the Issuer IDB with, and the Issuer's IDB’s certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B IDB Bonds and the facts, estimates and circumstances on which those expectations are based.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of Moneys in the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Indenturehereof, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) and the Rebate Refunding Fund shall be invested or and reinvested by the Trustee in Eligible Investments (as defined at the direction of the Company, consistent, however, with the covenants of the Company contained in Section 5.7 of the Indenture)Lease Agreement. The Company will not issue, or permit to be issued on its behalf, any instructions for the investments Investments of any moneys in the Rebate Bond Fund shall mature or be redeemable at the option of the Trustee at the times and in the amounts necessary to provide moneys to pay Debt Service on Bonds as the same shall become due at stated maturity, by redemption or otherwise. Subject to any directions from the Company with respect thereto, from time to time, the Trustee may sell those investments and reinvest the proceeds therefrom in Eligible Investments maturing or redeemable as aforesaid. Any of those investments may be purchased from or sold to the Trustee, the Registrar, an Authenticating Agent or a Paying Agent, or any bank, trust company or savings and loan association affiliated with any of the foregoing. The Trustee shall sell or redeem investments credited to the Bond Fund to produce sufficient moneys applicable hereunder to and at the times required for the purpose of paying Debt Service on Bonds when due as aforesaid, and shall do so without necessity for any order on behalf of the Issuer and without restriction by reason of any order. An investment made from moneys credited to the Bond Fund, the Bond Purchase Fund or the Bond Refunding Fund ifshall constitute part of that respective Fund, as a result of any such investment being made in accordance therewith, the Series 1996B Bonds would and each respective Fund shall be considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionally, the Issuer and the Company will continually comply credited with all provisions of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds sale and the factsincome from investment of moneys credited thereto. For purposes of this Indenture, estimates and circumstances on which those expectations are based. The Company all investments shall provide the Issuer withbe valued at face amount or market value, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are basedwhichever is less.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Original Indenture, (ii) to pay Unsurrendered Bonds (as defined in the Original Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) ), the Rebate Fund and the Rebate Construction Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the Original Indenture). The Company will not issue, or permit to be issued on its behalf, any instructions for the investments of any moneys in the Construction Fund, the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result of any such investment being made in accordance therewith, the Series 1996B 1997 Bonds would be considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionally, the Issuer and the Company will continually comply with all provisions of the Code necessary in order to prevent the Series 1996B 1997 Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B 1997 Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Series 1997 Bonds, setting forth the reasonable expectations of the Issuer as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B 1997 Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the Issuer with, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B 1997 Bonds and the facts, estimates and circumstances on which those expectations are based.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of Moneys in the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Original Indenture, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) ), the Refunding Fund and the Rebate Construction Fund shall be invested or and reinvested by the Trustee in Eligible Investments (as defined at the direction of the Company, consistent, however, with the covenants of the Company contained in Section 11 of the Indenture)First Supplemental Lease. The Company will not issue, or permit to be issued on its behalf, any instructions for the investments Investments of any moneys in the Rebate Bond Fund shall mature or be redeemable at the option of the Trustee at the times and in the amounts necessary to provide moneys to pay Debt Service on Series 1997 Bonds as the same shall become due at stated maturity, by redemption or otherwise. Subject to any directions from the Company with respect thereto, from time to time, the Trustee may sell those investments and reinvest the proceeds therefrom in Eligible Investments maturing or redeemable as aforesaid. Any of those investments may be purchased from or sold to the Trustee, the Registrar, an Authenticating Agent or a Paying Agent, or any bank, trust company or savings and loan association affiliated with any of the foregoing. The Trustee shall sell or redeem investments credited to the Bond Fund to produce sufficient moneys applicable hereunder to and at the times required for the purpose of paying Debt Service on Series 1997 Bonds when due as aforesaid, and shall do so without necessity for any order on behalf of the Issuer and without restriction by reason of any order. An investment made from moneys credited to the Bond Fund, the Bond Purchase Fund, the Construction Fund or the Bond Refunding Fund ifshall constitute part of that respective Fund, as a result and each respective Fund shall be credited with all proceeds of any such sale and income from investment being made in accordance therewith, the Series 1996B Bonds would be considered "arbitrage bonds" within the meaning of Section 148 moneys credited thereto. For purposes of the Code Indenture, all investments shall be valued at face amount or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionallymarket value, the Issuer and the Company will continually comply with all provisions of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the Issuer with, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are basedwhichever is less.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of Moneys in the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Indenturehereof, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) and in the Rebate Fund and the Construction Fund shall be invested or and reinvested by the Trustee in Eligible Investments (as defined at the written direction of the Company, consistent, however, with the covenants of the Company contained in Section 5.5 of the Indenture)Second Supplemental Lease. The Company will not issue, or permit to be issued on its behalf, any instructions for the investments Investments of any moneys in the Rebate Bond Fund shall mature or be redeemable (at the option of the Trustee) at the times and in the amounts necessary to provide moneys to pay Debt Service on Bonds as the same shall become due at stated maturity, by redemption or otherwise. Each investment of moneys in the Construction Fund shall mature or be redeemable at such time as the Company advises will be necessary to make payments from the Construction Fund. Subject to any written directions from the Company with respect thereto, from time to time, the Trustee may sell those investments and reinvest the proceeds therefrom in Eligible Investments maturing or redeemable as aforesaid. Any of those investments may be purchased from or sold to any Fiduciary or any bank, trust company or savings and loan association affiliated with any Fiduciary. The Trustee shall sell or redeem investments credited to the Bond Fund to produce sufficient moneys applicable hereunder to and at the times required for the purpose of paying Debt Service on Bonds when due as aforesaid, and shall do so without necessity for any order on behalf of the Issuer and without restriction by reason of any order. An investment made from moneys credited to the Bond Fund, the Bond Purchase Fund, the Rebate Fund or the Bond Construction Fund ifshall constitute part of that respective Fund, as a result and each respective Fund shall be credited with all proceeds of any such sale and income from investment being made in accordance therewithof moneys credited thereto. For purposes of this Indenture, all investments shall be valued at face amount or market value, whichever is less. In addition to the Series 1996B Bonds would be considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionallyforegoing requirements, the Issuer and will not pay or agree to pay to a party, other than the Company will continually comply with all provisions United States, any portion of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer Excess Earnings (computed as of the Issue Date regarding most recent prior Computation Date) through a transaction that reduces the aggregate amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances earned on which those expectations are based. The Company shall provide the Issuer with, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based.all nonpurpose

Investment of Fund Moneys. At the written direction of the CompanyAuthorized Company Representative to the Trustee, any moneys held as part of the Project Fund, the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Indenture, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) and the Rebate Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the Indenture)Investments. The Company will not issue, or permit Issuer has no right to be issued on its behalf, any instructions for direct the investments investment of any moneys held in such Funds and the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result Company hereby covenants that it will restrict any investment and reinvestment of any moneys held in such investment being made Funds and the use of the proceeds of the Bonds in accordance therewithsuch manner and to such extent, if any, that the Series 1996B Bonds would be considered "will not constitute arbitrage bonds" within the meaning of bonds under Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) Code. Each of the Code. Additionally, Company and the Operating Company shall provide the Issuer and the Company will continually comply with all provisions a certificate of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any an appropriate officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of Company or the Issuer pursuant to said Section 148 of the Code, Operating Company for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer as Company and the Operating Company on the date of delivery of and payment for the Issue Date Bonds regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based. The Company agrees that at no time shall any funds constituting gross proceeds of the Bonds be used in any manner to cause or result in a prohibited payment under applicable regulations pertaining to, or in any other fashion as would constitute failure of compliance with, Section 148 of the Code. If there is any amount required to be paid to the United States pursuant to Section 148(f) of the Code or Section 5.03 of the Indenture, the Company shall pay such amount to the Trustee for deposit to the Rebate Fund created under Section 5.03 of the Indenture, who will, acting on behalf of the Company, submit the payment to the United States. The Company shall provide to the Trustee and the Issuer withthe rebate computations required to be made pursuant to the Tax Regulatory Agreement and Section 5.03 of the Indenture, and the Issuer's certificate may be premised on, a certificate Trustee shall keep such records of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are basedsuch computations.

Investment of Fund Moneys. At the written direction of the Company, any moneys held as part of the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the Indenture, (ii) to pay Unsurrendered Bonds (as defined in the Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as needed) ), the Rebate Fund and the Rebate Construction Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the Indenture). The Company will not issue, or permit to be issued on its behalf, any instructions for the investments of any moneys in the Construction Fund, the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result of any such investment being made in accordance therewith, the Series 1996B Bonds would be considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Additionally, the Issuer and the Company will continually comply with all provisions of the Code necessary in order to prevent the Series 1996B Bonds from being considered "arbitrage bonds" within the meaning of Section 148 of the Code or "hedge bonds" within the meaning of Section 149(g) of the Code. Any officer of the Issuer having responsibility for issuing the Series 1996B Bonds, in conjunction with the Company or any officer, employee or agent of or consultant to the Company, shall give an appropriate certificate of the Issuer pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the Issuer as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the Issuer with, and the Issuer's certificate may be premised on, a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the Series 1996B Bonds and the facts, estimates and circumstances on which those expectations are based.