Laserfiche WebLink
"Defeasance Securities" means, to the extent permitted by State law, the <br />following obligations which may be used as permitted investments to defease Outstanding <br />Bonds: <br />(1) Cash deposits (insured at all times by the Federal Deposit Insurance <br />Corporation). <br />(2) U.S. Treasury Certificates, Notes and Bonds (including State and Local <br />Government Series — "SLGs "). <br />(3) Direct obligations of (including obligations issued or held in book entry <br />fore on the books of the Department of Treasury) the United States of America. <br />(4) The interest component of Resolution Funding Corporation (REFCORP) <br />strips which have been stripped by request to the Federal Reserve Bank of New York in book <br />entry form. <br />(5) Pre - refunded municipal bonds rated "Aaa" by Moody's and "AAA" by <br />Standard & Poor's. If the issue is rated solely by Standard & Poor's, the pre - refunded bonds <br />must have been pre - refunded with cash, direct U.S. or U.S. guaranteed obligations, or AAA rated <br />pre - refunded municipal bonds. <br />(6) Obligations of the following federal agencies so long as such obligations <br />are backed by the full faith and credit of the United States of America. <br />a. U.S. Export-Import Bank (Eximbank) <br />Direct obligations or fully guaranteed certificates of beneficial <br />ownership <br />b. Fanners Home Administration IFmHA <br />Certificates of beneficial ownership <br />C. Federal Financing Bank <br />d. General Services Administration <br />Participation certificates <br />e. U.S. Maritime Administration <br />Guaranteed Title XI financing <br />f U.S. Department of Housine and Urban Development <br />Project Notes <br />Local Authority Bonds <br />New Communities Debentures <br />U.S. Public Housing Notes and Bonds <br />"Depository" means the securities depository acting as Depository pursuant to <br />"DTC" means The Depository Trust Company, New York, New York, and its successors. <br />55394.00011 \8754149.4 5 <br />