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due and then to the Principal Account for immediate payment of principal payments past <br />due according to the tenor of any Bond. Any remaining money representing delinquent <br />Installment Payments shall be deposited in the Payment Fund to be applied in the manner <br />provided therein. <br />SECTION 6.04. Investment of Moneys in Funds and Accounts. Moneys in the <br />Acquisition Fund shall be accounted for and invested by the Treasurer in any legally permitted <br />investment. Moneys in the Costs of Issuance Fund and the Payment Fund and any accounts therein <br />shall, upon the Written Request of the City, on behalf of the Authority, be invested by the Trustee <br />in Permitted Investments. In the absence of a Written Request of the City, the Trustee shall hold <br />such funds uninvested pending the receipt of a Written Request of the City. The obligations in <br />which moneys in the said funds and accounts are invested shall mature prior to the date on which <br />such moneys are estimated to be required to be paid out hereunder. Prior to the completion of the <br />acquisition, construction, installation and improvement of the Project, any interest, income or <br />profits from the deposits or investments of all funds and accounts (except the Rebate Fund) shall <br />be retained in such fund or account. After the completion of the acquisition, construction, <br />installation and improvement of the Project, any interest, income or profits from the deposits or <br />investments of all funds and accounts (except the Rebate Fund) shall be deposited to the Interest <br />Account of the Payment Fund. The Trustee shall semiannually, on or about March 1 and September <br />1 of each year, commencing on September 1, , and at such times as the Authority shall deem <br />appropriate, value the investments in the funds and accounts hereunder. Except as otherwise <br />provided in this Section, Permitted Investments representing an investment of moneys attributable <br />to any fund or account hereunder and all investment profits or losses thereon shall be deemed at <br />all times to be a part of said fund or account. The Trustee may act as principal or agent in the <br />acquisition or disposition of investments. For investment purposes only, the Trustee may <br />commingle the funds and accounts established hereunder, except the Rebate Fund and any fund or <br />account established pursuant to Article 11 hereof. <br />The Authority acknowledges that to the extent regulations of the Comptroller of the <br />Currency or other applicable regulatory entity grant the Authority the right to receive brokerage <br />confirmations of security transactions as they occur, the Authority specifically waives receipt of <br />such confirmations to the extent permitted by law. The Trustee will furnish the Authority periodic <br />cash transaction statements which include detail for all investment transactions made by the <br />Trustee hereunder. <br />ARTICLE VII <br />COVENANTS OF THE AUTHORITY <br />SECTION 7.01. Punctual Payment and Performance. The Authority will <br />punctually pay the interest on and the principal of and redemption premiums, if any, to become <br />due on every Bond issued hereunder in strict conformity with the terms hereof and of the Bonds, <br />and will faithfully observe and perform all the agreements and covenants contained herein and in <br />the Bonds. <br />27 <br />55394.00068\42092121.3 <br />