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<br />. <br /> <br />unless the Agency receives and delivers to the Fiscal <br />Agent, an opinion of Counsel based upon a certificate of an <br />Independent Financial Consultant appointed by the Agency to <br />the effect that, notwithstanding failure to apply any <br />Special Fund balance to the call and redemption of Bonds, <br />the Agency is legally entitled, under the Law and the <br />Redevelopment Plan (including without limitation, Section <br />22 thereof) as then in existence, to receive sufficient <br />taxes under Section 33670 of the Law to pay all remaining <br />interest and principal on all outstanding Bonds as it <br />becomes due. <br /> <br />(e) After deposits have been made pursuant to <br />subsections (a) (b) and (c) hereof, any funds not released <br />to the Agency pursuant to subsection (d) shall be used,to <br />redeem bonds at the next available calI date pursuant to <br />Section l1(B). <br /> <br />. <br /> <br />Section 16. Deposit and Investment of Moneys in Funds. <br />Subject to the provisions of Covenant 9 of Section 18 hereof, <br />all moneys held by the Agency in the Redevelopment Fund and by <br />the Fiscal Agent in the Special Fund, except such moneys which <br />are at the time invested in obligations in which the Agency is <br />authorized to make investments, shall be held in time or demand <br />deposits in any bank or trust company authorized to accept <br />deposits of public funds (including the banking department of <br />the Fiscal Agent) and all of such deposits shall be secured at <br />all times by bonds or other obligations which are authorized by <br />law as security for public deposits, of a market value at least <br />equal to the amount required by law. <br /> <br />Moneys in the Redevelopment Fund shall from time to <br />time be invested by the Agency, and moneys in the Special Fund <br />may be invested by the Fiscal Agent and upon request of the <br />Agency shall be invested as provided by law, subject to the <br />following restrictions: <br /> <br />(a) Moneys in the Redevelopment Fund shall be <br />invested only in obligations which will by their terms <br />mature not later than the date the Agency estimates the <br />moneys represented by the particular investment will be <br />needed for withdrawal from the Fund. <br /> <br />. <br /> <br />(b) Moneys in the Interest and Principal Account of <br />the Special Fund shall be invested only in obligations <br />which will by their terms mature on such dates as to ensure <br />that before each interest and principal payment date, there <br />will be in such Account, from matured obligations and other <br />moneys already in such Account, cash equal to the interest <br />and principal, payable on such payment date. <br /> <br />0715p/2281j04 <br /> <br />-16- <br />