1980-738-R - Laserfiche WebLink

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(W with Exhibit A . Reinvestment by the Trustee of proceeds received upon maturity of the Investment Securities will be permitted only so long as such reinvestment does not result in a violation of Section 103 of the Internal Revenue Code of 1954 and the Treasury Regulations promulgated thereunder dealing with "arbitrage bonds. " 4 . The Trustee agrees to pay from time to time the required amounts out of the Trust Fund to the respective trustees and paying agents for the Previous Bonds , to be applied by the respective trustees and paying agents to the payment of interest on and principal of the Previous Bonds and for the trustee' s and paying agent' s fees, as the same become due and payable. After payment or provision for payment of all (W amounts set forth above , any excess funds shall be paid or transferred to the City for the benefit of the Batesville Utilities Commission. 5 . At the written request of the City and upon compliance with conditions hereinafter stated, the Trustee shall have the power to sell , transfer or request the redemption or otherwise dispose of the Investment Securities and substitute therefor other Government Securities which are available for purchase with the proceeds derived from such disposition on the date of such transaction . The foregoing may be effected only upon the satisfaction of the following conditions: ( i ) the amounts and dates on which the anticipated transfers from the Trust Fund to the paying agents for the payment of the principal of and interest on the Previous Bonds will not be diminished or postponed thereby, ( ii) The Trustee shall receive the unqualified opinion of nationally recognized municipal bond attorneys to the effect that such disposition and substitution shall not cause any of the Bonds to be an " arbitrage bond" within the meaning of Section 103 ( c) of the Internal Revenue Code of 1954 , as 3