Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

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-- __ ._ __1 _ an officer or officers of the Authority unless the counsel executing such opinion of counsel knows that the representation with respect to the matters or upon which his. or her opinion may be based, as aforesaid, is erroneous, or in the exercise of reasonable care should have known that the same was e�roneous. , Section 10.0T. Notice by Mail. Any notice required to be given hereunder by mail to ' any Owners of Bonds shall be given by mailing a copy of such notice, first class postage redeemed, to the Owners of such Bonds at their addresses appearing in the books required to be kept by the Trustee pursuant to the provisions of Section 2.07 not less than thirty (30) days nor more than sixty (60) days following the action or prior to the event conceming which notice thereof is required to be given unless this Indenture expressly provides a different provision; provided, that receipt of any such notice shall not be a condition precedent to the effect of such notice and failure to receive any such notice shall not affect the validity of the proceedings taken in connection with the action or the event concerning which such notice was given. Section 10.08. Funds. Any fund or account required to be established and maintained herein by the Trustee may be established and maintained in the accounting records of the Trustee eithe� as an account or a fund, and may, for the purposes of such accounting records, any audits thereof and any reports or statements with respect thereto, be treated either as an account or a fund; but all such records with respect to all such funds shall at all times be maintained in accordance with corporate trust industry practice and with due regard for the protection of the security of the Bonds and the rights of the owners. Section 10.09. Investments. (a) Amounts on deposit in any fund or account created pursuant to this Indenture shall be invested in Permitted Investments which will, as nearly as practicable, mature on or before the dates when such money is anticipated to be needed for disbursement hereunder, in accordance with such written directions as the Authority or the City may from time to time provide to the Trustee. Amounts on deposit in the Reserve Fund shall be invested by the Trustee, in accordance with written directions from the Authority or the City, in Permitted Investments (i) having an average aggregate weighted term to maturity not greater than five (5) years, or (ii) of any maturity, but callable at par for any purpose required by this Indenture. Investment directions shall be received at least two (2) Business Days prior t� the date of making the investment. If no such direction has been received by the Trustee in sufficient time, in the judgment of the Trustee to comply with such instructions the Trustee may invest such amounis in Permitted Investments of the type described in paragraph (4) of the definition thereof. The T�ustee and any affiliates may act as sponsor, advisor, principal or agent in the acquisition or disposition of any such investment. The Trustee shall not be liable or responsible for any loss suffered in connection with any such investment made by it under the terms of and in accordance with this Section 10.09. The Trustee may sell or present for redemption any obligations so purchased whenever it shall be necessary in order to provide moneys to meet any payment of the funds so invested, and the Trustee shall not be liable or responsible for any Iosses resulting from any such investment sold or presented for redemption. Interest or profit received on such investments shall be deposited to the Reserve Fund to the extent the amount on deposit therein is less than the Reserve Requirement, and thereafter to the Payment Fund. The Trustee will furnish the Authority periodic cash transaction statements which include detail for all investment transactions made by the Trustee hereunder. The Trustee shall, using 42