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(G) Any Parity Repaymcnt Obligation sh�ll be deemed to be payabtc at the schedulcd <br /> amount due unde� the Bonds or Contracts to which such Parity Repayment Obligation relates as <br /> colculated undcr this dcfinition. <br /> �uthorized[nvestments <br /> "Authorized lnvestments" means any of the following obligations which at the time of <br /> investment are legal invcstments of funds of the Port under the laws of the St�te of California for the <br /> money proposed to be invested thcrein and which are approved by and satisfactory to the Bond <br /> Insurers(if any): <br /> A. For all purposes, including defeasance investments in refunding escrow accounts: <br /> (f) Cash (insured at all times by the Federal Deposit Insurance <br /> Corporation or othawise collateralized with obligations described in paragraph (2) <br /> below),or <br /> (2) Direct obligations of (including obligations issued or held in book <br /> entry form on the books o� the Department oF the Treasury of the United States of <br /> America. <br /> B. For all purposes uther than defeasance investments in refunding escrow accounts: <br /> (1) Obligations of any of the following federal agencies, which <br /> obligations reprtsent the full faith and credit of the United States of America, <br /> i��cluding: <br /> — Export-Import Bank <br /> — Farm Credit Enterprise Financial Assistance Corporation <br /> — Rural Economic Community Development Adminisa�ation (formerly the <br /> Farmers Home Adminiscration) <br /> — General Services Administration <br /> — U.S. Maritime Administration <br /> — Small Business Administration <br /> — Government National Mortgage Association (GNMA) <br /> — U.S. DeparUnent of Housing&Urban Development (PHA's) <br /> — Federal Housing Administration <br /> — Federal Financing Bank; <br /> {2) Direct obligations of any of the following federal agencies, which <br /> obligations are not fully guaranteed by thc full faith and credit of the United States <br /> of America: <br /> — Senior debt obligations rated "Aaa" by Moody's and "AAA" by S&P <br /> issued by the Federal National Mortgage Association(FNMA) or Federal <br /> ' ' Home Loan Mortgage Corporation (T'HLMC) <br /> — Obligations of the Resolution Funding Corporation(REFCORP) <br /> 12074.9�22931.0005 4 <br />