Laserfiche WebLink
<br />6 <br /> <br />(3) Bonds in lieu of or in substitution for which replacement Bonds shall have <br />been executed and delivered hereunder. <br /> <br />“Owner” or “Bondowner” means the registered owner of any Outstanding Bond. <br />“Payment Fund” means the fund by that name established in Section 3.03 hereof. <br /> <br />“Permitted Investments” means any of the following, but only to the extent that the same <br />are acquired at Fair Market Value, which at the time of investment are legal investments under <br />the laws of the State of California for the moneys proposed to be invested therein (the Trustee is <br />entitled to conclusively rely upon any direction of the City or the Authority as a certification that <br />such investment constitutes a Permitted Investment and is a legal investment under the laws of <br />the State of California): <br /> <br />1. Direct obligations of the United States of America (including obligations issued or <br />held in book-entry form on the books of the Department of the Treasury, but excluding CATS <br />and TIGRS) or obligations the principal of and interest on which are unconditionally guaranteed <br />by the United States of America. <br /> <br />2. Bonds, debentures, notes or other evidence of indebtedness issued or <br />guaranteed by any of the following federal agencies and provided such obligations are backed <br />by the full faith and credit of the United States of America (stripped securities are only permitted <br />if they have been stripped by the agency itself): <br /> <br />Farmers Home Administration (FmHA) <br /> Certificates of beneficial ownership <br /> <br />Federal Housing Administration Debentures (FHA) <br /> <br />General Services Administration <br /> Participation certificates <br /> <br />Government National Mortgage Association (GNMA or “Ginnie Mae”) <br /> GNMA — guaranteed mortgage-backed bonds <br /> GNMA — guaranteed pass-through obligations (participation certificates) <br /> (not acceptable for certain cash-flow sensitive issues.) <br /> <br />U.S. Maritime Administration <br /> Guaranteed Title XI financing <br /> <br />U.S. Department of Housing and Urban Development (HUD) <br /> Project Notes <br /> Local District Bonds <br /> New Communities Debentures — U.S. Government guaranteed <br />debentures <br /> U.S. Public Housing Notes and Bonds — U.S. Government guaranteed <br /> public housing notes and bonds <br /> <br />3. Bonds, debentures, notes or other evidence of indebtedness issued or <br />guaranteed by any of the following non-full faith and credit U.S. government agencies (stripped <br />securities are only permitted if they have been stripped by the agency itself): <br />8.C. - Page 117