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<br />I <br />L <br /> <br />~. <br />I <br />l <br /> <br />ARTICLE VI <br /> <br />INVESTMENT OF MONEYS <br /> <br />Section 6.01. Permitted Investments. Any moneys held as a part of the Bond <br />Fund, the Construction Fund or any other fund or account established hereunder <br />shall be invested or reinvested by the Servicing Agent, to the extent permitted by <br />law, at the written request of and as directed by the Company Representative, in <br />Permitted Investments or in the event that the Company does not provide such <br />directions, then in Federal Securities having a yield at least equal to the yield <br />of the Bonds, if available, or, if not available, having a yield less than the yield <br />of the Bonds <br /> <br />Section 6.02. Investment of Funds. The Servicing Agent may make any and <br />all such Permitted Investments through its own departments or through the bond <br />department of any bank or trust company under common control with the Servicing <br />Agent. All such Permitted Investments shall at all times be a part of the fund from <br />which the moneys used to acquire such Permitted Investments shall have come, and <br />all income and profi ts on such Permi tted Investments shall be credi ted to, and <br />losses thereon shall be charged aga i nst, such funds, except that pri or to the <br />filing of a Certificate of Completion with the Servicing Agent, all interest or <br />income on the Bond Fund, if any, shall be deposited in the Construction Fund. Such <br />Permitted Investments shall be made so as to mature or be subject to redemption on <br />or prior to the date or dates that the Company anticipates that moneys therefrom <br />will be required. Such Permitted Investments shall be registered in the name of <br />the Serv i c i ng Agent on beha If of the Authority. <br /> <br />Section 6.03. Arbitrage Certification. The Authority hereby covenants and <br />certifies to and for the benefit of the Owners of the Bonds from time to time <br />Outstanding that so long as any of the Bonds remain Outstanding, moneys on deposit <br />in any fund or account in connection with the Bonds, whether or not such moneys were <br />derived from the proceeds of sale of the Bonds or from any other sources, will not <br />be used in a manner which, if such use had been made on the Delivery Date, would <br />have caused the Bonds to be classified as "arbitrage bands" within the meaning of <br />Section 103(c) of the Code. <br /> <br />16 <br />