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<br />" ,. <br /> <br />. <br /> <br />, <br /> <br />. <br /> <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 <br />time be invested by the Agency, and moneys in the Special <br />shall be invested by the Fiscal Agent with prior approval <br />the Agency as provided by law, subject to the following <br />restrictions: <br /> <br />to <br />Fund <br />of <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 />(b) Moneys in the Bond Interest Account of the <br />Special Fund shall be invested only in obligations which <br />will by their terms mature on such dates as to ensure that <br />before each interest payment date there will be in the <br />Account, from matured obligations and other moneys already <br />in such Account, cash equal to the interest payable on the <br />interest payment date. <br /> <br />(c) Moneys in the Debt Service Reserve Account shall <br />be invested in obligations which will by their terms mature <br />prior to the date established by resolution of the Agency. <br /> <br />Except as otherwise provided in Section 13 hereof, <br />obligations purchased as an investment of moneys in any of the <br />Funds or Accounts shall be deemed at all times to be a part of <br />such respective Fund or Account and the interest accruing <br />thereon and any gain realized from an investment shall be <br />credited to such Fund or Account and any loss resulting from <br />any authorized investment shall be charged to such Fund or <br />Account without liability to the Agency or the members and <br />officers thereof or to the Fiscal Agent. The Agency or the <br />Fiscal Agent, as the case may be, shall sell at the best price <br />obtainable or present for redemption any obligation purchased <br />whenever it shall be necessary to do so in order to provide <br />moneys to meet any payment or transfer from such Fund as <br />required by this Resolution. The investment constituting a <br />part of the Fund shall be valued at the then estimated or <br />appraised market value of the investment or face amount <br />thereof, whichever is lower; provided, however, that <br /> <br />02-22-83 <br />4l41P/2306/00 <br /> <br />-18- ¡f-3S- <br /> <br />SA <br />