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�� [ <br /> having responsibility with respect to the <br /> issuance of the Series 1992 Bonds is authorized <br /> and directed, alone or in conjunction with any of <br /> the foregoing or with any other officer, <br /> employee, consultant or agent of the Issuer, or <br /> any officer of the Borrower, and upon receipt of <br /> indemnities from the Borrower, to give an <br /> appropriate certificate on behalf of the Issuer, <br /> for inclusion in the transcript of proceedings <br /> for the Series 1992 Bonds, setting forth the I <br /> facts, estimates and circumstances and reasonable ' <br /> egpectations pertaining to such Sections � <br /> 103(b) (2) and 148 and regulations thereunder . <br /> Section 10 . Investment of Bond Fund Rebate Fund and <br /> Pavment Fund Monev. Moneys in the Bond Fund, the Rebate Fund <br /> and the Payment Fund shall be invested and reinvested by the <br /> Trustee in any Eligible Investments, in accordance with and <br /> subject to any written orders, or oral orders confirmed <br /> promptly in writing, of the Authorized Borrower Representative <br /> with respect thereto, provided that investments of moneys in <br /> the Bond Fund shall mature or be redeemable at the option of <br /> the Trustee at the times and in the amounts necessary to <br /> provide moneys hereunder to pay Bond Service Charges as they <br /> fall due at stated maturity or by amortization or redemption, <br /> and that each investment of moneys in the Payment Fund shall in <br /> any event mature or be redeemable at the option of the Trustee <br /> at such time as may be necessary to refund and retire the Prior <br /> Bonds . Subject to any such orders with respect thereto, the <br /> Trustee may from time to time sell such investments and <br /> reinvest the proceeds therefrom in Eligible Investments <br /> maturing or redeemable as aforesaid. Any such investments may <br /> be purchased from the Trustee. The Trustee shall sell or <br /> redeem investments standing to the credit of the Bond Fund to <br /> produce sufficient moneys hereunder at the times required for <br /> the purposes of paying Bond Service Charqes when due as <br /> aforesaid. An investment made from moneys credited to the Bond <br /> Fund or Payment Fund shall constitute part of that respective <br /> Fund and such respective Fund shall be credited with all <br /> proceeds of sale and income or loss from such investment, <br /> provided further that all investments of any moneys credited to <br /> the Principal Account or the Interest Account of the Bond Fund <br /> shall constitute part of that respective Account, and such <br /> respective Account shall be credited with all proceeds of sale <br /> and income or loss from such investment, provided that all such <br /> investments of moneys in such Funds or Accounts shall mature or <br /> be redeemable without penalty at such times as may be necessary <br /> to make payments when necessary from such Funds and Accounts . <br /> The Borrower has covenanted in the Agreement to restrict the <br /> use of the proceeds of the Series 1992 Bonds so that they will <br /> not constitute arbitrage bonds under the Code. <br /> - 17 - <br />