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1 . <br /> Section 4.02. Investment of Funds. Any moneys in any fund or account described in <br /> Article Three hereof or created by Series Ordinance may be invested, reinvested or deposited <br /> only in Permitted Investments. Securities or obligations purchased as such investments shall <br /> either be subject to redemption at any time at face value by the owner thereof at the option of <br /> such owner or shall mature at such time or times as shall most nearly coincide with the expected <br /> need for moneys from the fund or account in question. Securities or obligations so purchased as <br /> an investment of moneys in any such fund or account shall be deemed at all times to be a part of <br /> the applicable fund or account; provided that (with the exception of a Debt Service Reserve <br /> Account and an Excess Investment Earnings Account, if any, established with respect to a <br /> particular Series of Obligations)the interest accruing on such investments and any profit realized <br /> therefrom shall be credited to the Income Account, and any loss resulting from such investments <br /> shall be charged to the particular fund or account in question. Interest and profit realized from <br /> investments in a Debt Service Reserve Account or Excess Investment Earnings Account shall be <br /> credited to such Debt Service Reserve Account or Excess Investment Earnings Account, <br /> respectively, provided that, so long as the amount in a Debt Service Reserve Account equals at <br /> least the minimum amount specified by Series Ordinance, Supplemental Resolution or Final <br /> Terms Certificate, such interest and profit may be transferred from the Debt Service Reserve <br /> Account to the Debt Service Account and distributed in the same manner as other moneys in the <br /> Debt Service Account, and any loss resulting from such investments in the Debt Service Reserve <br /> • 'Account shall be charged to the Debt Service Reserve Account. The City shall present for <br /> redemption or sale on the prevailing market any securities or obligations so purchased as an <br /> investment of moneys in a given fund or account whenever it shall be necessary to do so in order <br /> to provide moneys to meet any required payment or transfer from such fund or account. The <br /> City shall not invest any moneys accounted for hereunder if any such investment would <br /> contravene the covenants concerning arbitrage or other federal income tax matters in an <br /> applicable Series Ordinance, Final Terms Certificate or Supplemental Resolution. <br /> Section 4.03. No Liability for Losses Incurred in Performing Terms of General <br /> Ordinance, Series Ordinance, Supplemental Resolution or Final Terms Certificate. Neither <br /> the City nor any officer of the City shall be liable or responsible for any loss resulting from any <br /> investment or reinvestment made in accordance with this Ordinance, or a Series Ordinance, <br /> Supplemental Resolution or Final Terms Certificate. <br /> Section 4.04. Character of Funds. The moneys in any fund or account herein described <br /> shall consist of lawful money of the United States of America or investments permitted by <br /> Section 4.02 hereof or both such money and such investments. Moneys deposited in a demand <br /> or time deposit account in or evidenced by a certificate of deposit of a Commercial Bank <br /> pursuant to Section 4.01 hereof, appropriately secured according to the laws of the State, shall be <br /> deemed lawful money of the United States of America. <br /> Section 4.05. Accelerated Payments Optional. Nothing contained herein prevents the <br /> accumulation in any fund or account designated herein of any monetary requirements at a faster <br /> rate than the rate or minimum rate, as the case may be, provided therefor, but no payment shall <br /> be so accelerated if such acceleration shall 'cause a default in the payment of any obligation of <br /> the City pertaining to the Income. <br /> #86&939v11 19 <br />