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any other Bond or Bonds, or (e) a reduction in the aggregate principal amount of the Bonds required for consent to such supplemental ordinance. Section 22 . (a) Moneys held for the credit of the Bond Fund shall be invested and reinvested in (i) direct or fully guaranteed obligations of the United States of America (including any such securities issued or held in book-entry form on the books of the Department of the Treasury of the United States of America) ( "Government Securities" ) or (ii) in time deposits or certificates of deposit of banks, including the Trustee, which are insured by the Federal Deposit Insurance Corporation (the "FDIC" ) , or, if in excess of insurance coverage, collateralized by Government Securities, or (iii) obligations issued by the Government National Mortgage Association or (iv) money market funds comprised exclusively of investments described in (i) or (iii) above (collectively, "Permitted Investments" ) all of which shall mature, or which shall be subject to redemption by the holder thereof, at the option of such holder, not later than the date or dates when the moneys will be required for payment of the principal of and interest on the Bonds when due. The Trustee shall invest and reinvest pursuant to the direction of the City and in the Trustee ' s discretion in the absence of any direct instructions from the City. (b) Moneys held for the credit of all other Funds established hereunder may be invested and reinvested pursuant to the direction of the City in Permitted Investments which shall mature, or which shall be subject to redemption by the holder thereof, at the option of such holder, not later than the date or dates when such money will be required for the purposes intended. (c) Obligations so purchased as an investment of moneys in any fund shall be deemed at all times to be a part of such fund and the interest accruing thereon and any profit realized from such investments shall be credited to such fund, and any loss resulting from such investment shall be charged to such fund. (d) Investments of moneys in all funds shall be valued in terms of current market value at least annually. Section 23 . In the event the office of Mayor, City Clerk, City Treasurer, Commission, Manager of the System or City Council shall be abolished, or any two or more of such offices shall be merged or consolidated, or in the event the duties of a particular office shall be transferred to another office or officer, or in the event of a vacancy in any such office by reason of death, resignation, removal from office or otherwise, or in the event any such officer shall become incapable of performing the duties of his office by reason of sickness, absence from the City or otherwise, all powers conferred and all obligations and duties imposed upon such office or officer shall be performed by the (W office or officer succeeding to the principal functions thereof, or 22