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<br />26 <br />Section 5.11. Payment of Claims. The Authority will pay and discharge any and all <br />lawful claims for labor, materials or supplies which, if unpaid, might become a lien on the <br />Revenues or any part thereof or on any funds in the control of the Authority or the Trustee prior <br />or superior to the lien of the Bonds or which might impair the security of the Bonds; provided the <br />Authority shall not be obligated to make such payment so long as the Authority contracts such <br />payment in good faith. <br /> <br />Section 5.12. No Additional Obligations. The Authority covenants that no additional <br />bonds, notes or other indebtedness shall be issued or incurred which are payable out of the <br />Revenues in whole or in part, except as provided herein with respect to Additional Bonds. <br /> <br />Section 5.13. Rebate of Excess Investment Earnings to United States. <br /> <br />(a) Obligation to Calculate Excess Investment Earnings. The Authority shall <br />calculate or cause to be calculated, and shall provide or cause to be provided written notice to <br />the Trustee of, the excess investment earnings (as defined in the Code, “Excess Investment <br />Earnings”) at such times and in such manner as may be required pursuant to the Code. The <br />Authority shall inform the Trustee how frequently calculations are to be made, and shall ensure <br />that a copy of all such calculations is given promptly to the Trustee. <br /> <br />(b) Rebate to United States. The Authority agrees to deposit with the Trustee, <br />promptly upon the receipt of any calculations made pursuant to the preceding subsection (a), <br />the amount of Excess Investment Earnings so calculated. The Trustee shall deposit all amounts <br />paid to it for such purpose by the Authority in the Rebate Fund, which fund the Trustee hereby <br />agrees to establish when required to deposit any funds therein and maintain so long as any <br />Bonds are Outstanding. The Trustee shall pay to the United States of America from the <br />amounts on deposit in the Rebate Fund such amounts as shall be identified pursuant to written <br />notice filed with the Trustee by the Authority for such purpose from time to time. Payments to <br />the United States of America shall be made to the address prescribed by the Tax Regulations <br />as the same may be from time to time in effect with such reports and statements as may be <br />prescribed by such Tax Regulations. Following payment in full to the United States of America <br />of all amounts due and owing under this subsection (b) and under the Code, the Trustee shall <br />withdraw from the Rebate Fund and transfer to the Authority all amounts remaining on deposit <br />in the Rebate Fund. <br /> <br />(c) Investment Transactions. The Authority shall assure that Excess Investment <br />Earnings are not paid or disbursed except as required in this Section 5.13. To that end the <br />Authority shall assure that investment transactions are on an arm’s-length basis. In the event <br />that Permitted Investments consist of certificates of deposit or investment contracts, investment <br />in such Permitted Investments shall be made in accordance with the procedures described in <br />the Tax Regulations. <br /> <br />(d) Maintenance of Records. The Authority shall keep, and retain for a period of six <br />(6) years following the retirement of the Bonds, records of the determinations made pursuant to <br />this Section 5.13. <br /> <br />(e) Engagement of Professional Services. In order to provide for the administration <br />of this Section 5.13, the Authority may provide for the employment of independent attorneys, <br />accountants and consultants compensated on such reasonable basis as the Authority may <br />deem appropriate. <br /> <br />8.C. - Page 137