Temporary Period for Projects Fund Sample Clauses

Temporary Period for Projects Fund. Proceeds of the Agreement used to finance the cost of the Projects may be invested without Yield Restriction until September 20, 2025 (the three year anniversary of the Agreement), thereafter, shall be invested at a yield not in excess of the yield on the Agreement plus one- eighth of one percentage point (⅛%). Investment earnings on obligations acquired with such proceeds may be invested without Yield Restriction for a period not exceeding three (3) years from the date hereof or one (1) year from the receipt thereof, whichever is longer, and, thereafter, shall be invested at a yield not in excess of the yield on the Agreement plus one-eighth of one percentage point (⅛%). Proceeds derived from the sale of the Agreement that are used to reimburse the County for certain expenditures relating to the Projects are treated as immediately expended for federal income tax purposes and are not considered invested.
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