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<br />19 <br />(a) Payment Account. All moneys in the Payment Account shall be used and <br />withdrawn by the Trustee solely for the purpose of paying principal of and interest on the <br />Bonds on each Interest Payment Date or mandatory redemption dates, as applicable. <br /> <br />(b) Redemption Account. The Trustee, on the optional redemption date <br />specified in the Certificate of the Authority filed with the Trustee at the time that any <br />moneys to accomplish any such optional redemption are paid to the Trustee, shall <br />deposit in the Redemption Account the amount of such payment. All money in the <br />Redemption Account shall be used and withdrawn by the Trustee solely for the purpose <br />of paying the interest, premium, if any and principal on the Bonds to be optionally <br />redeemed on their respective redemption dates. <br /> <br />Section 3.05. Use of Money in the Delivery Costs Fund. <br /> <br />(a) The Trustee shall disburse funds from the Delivery Costs Fund to pay Delivery <br />Costs only upon, receipt of a signed certificate (stating the amount to be disbursed and the party <br />or parties being paid) by the Authorized Officer of the Authority and accompanied by an invoice <br />or statement for each such amount. <br /> <br />(b) Upon payment of all Delivery Costs, which shall be determined by a certificate to <br />that effect by an Authorized Officer of the Authority delivered to the Trustee, or upon the date <br />occurring three (3) months after the Closing Date, whichever occurs first, the Trustee shall <br />transfer all funds remaining in the Delivery Costs Fund to the Payment Fund, and the Delivery <br />Costs Fund shall thereupon be closed. <br /> <br />Section 3.06. No Reserve Fund. The Authority is not funding a debt service reserve <br />fund for the Series 2017 Bonds. <br /> <br />Section 3.07. Held in Trust. The moneys and investments held by the Trustee under <br />Sections 3.03, 3.04 and 3.05 are irrevocably held in trust for the benefit of the Owners, and for <br />the purposes herein specified, and such moneys, and any income or interest earned thereon, <br />shall be expended only as provided in this Indenture, and shall not be subject to levy or <br />attachment or lien by or for the benefit of any creditor of the Trustee or the Authority. <br /> <br />Section 3.08. Commingling of Moneys in Funds. The Trustee is directed by the <br />Authority to commingle any of the funds held by it pursuant to this Indenture into a separate <br />fund or funds for investment purposes only; provided, however, that all funds or accounts held <br />by the Trustee hereunder shall be accounted for separately notwithstanding such commingling <br />by the Trustee. <br /> <br />Section 3.09. Acquisition, Disposition and Valuation of Investments. <br /> <br />(a) Except as otherwise provided in subsection (b) of this Section, the Authority <br />covenants that all investments of amounts deposited in any fund or account created by or <br />pursuant to this Indenture, or otherwise containing gross proceeds of the Bonds (within the <br />meaning of section 148 of the Code) will be acquired, disposed of, and valued (as of the date <br />that valuation is required by this Indenture or the Code) at Fair Market Value. <br /> <br />(b) Investments in funds or accounts (or portions thereof) that are subject to a yield <br />restriction under applicable provisions of the Code will be valued at their present value (within <br />the meaning of section 148 of the Code). <br />8.C. - Page 130