HARRY HUGHES, Governor 2637
OR ANY SUBSEQUENT REDEMPTION DATE, AND MAY, PENDING SUCH
APPLICATION, BE PLACED IN ESCROW TO BE APPLIED TO SUCH PURCHASE
OR RETIREMENT AT MATURITY OR REDEMPTION ON SUCH DATE AS MAY BE
DETERMINED BY THE CORPORATION.
(3) ANY ESCROWED BOND PROCEEDS, PENDING SUCH USE, MAY
BE INVESTED AND REINVESTED IN OBLIGATIONS OF OR GUARANTEED BY THE
UNITED STATES OF AMERICA, OR IN CERTIFICATES OF DEPOSIT OR TIME
DEPOSITS SECURED BY OBLIGATIONS OF OR GUARANTEED BY THE UNITED
STATES OF AMERICA, MATURING AT SUCH TIME OR TIMES AS SHALL BE
APPROPRIATE TO ASSURE THE PROMPT PAYMENT, AS TO PRINCIPAL,
INTEREST, AND REDEMPTION PREMIUM, IF ANY, OF THE OUTSTANDING
BONDS TO BE SO REFUNDED. THE INTEREST, INCOME, AND PROFITS, IF
ANY, EARNED OR REALIZED ON ANY SUCH INVESTMENT MAY ALSO BE
APPLIED TO THE PAYMENT OF THE OUTSTANDING BONDS TO BE SO
REFUNDED. AFTER THE TERMS OF THE ESCROW HAVE BEEN FULLY
SATISFIED AND CARRIED OUT, ANY BALANCE OF SUCH PROCEEDS AND
INTEREST, INCOME, AND PROFITS, IF ANY, EARNED OR REALIZED ON THE
INVESTMENTS THEREOF MAY BE RETURNED TO THE CORPORATION FOR USE BY
IT IN ANY LAWFUL MANNER.
(4) THE PORTION OF THE PROCEEDS OF ANY OF ITS BONDS
ISSUED FOR THE ADDITIONAL PURPOSE OF PAYING ALL OR ANY PART OF
THE COST OF A THE A PROJECT MAY BE INVESTED AND REINVESTED IN
OBLIGATIONS OF OR GUARANTEED BY THE UNITED STATES OF AMERICA, OR
IN CERTIFICATES OF DEPOSIT OR TIME DEPOSITS SECURED BY
OBLIGATIONS OF OR GUARANTEED BY THE UNITED STATES OF AMERICA,
MATURING NOT LATER THAN THE TIME OR TIMES WHEN SUCH PROCEEDS WILL
BE NEEDED FOR THE PURPOSE OF PAYING ALL OR ANY PART OF SUCH COST.
THE INTEREST, INCOME, AND PROFITS, IF ANY, EARNED OR REALIZED ON
SUCH INVESTMENT MAY BE APPLIED TO THE PAYMENT OF ALL OR ANY PART
OF SUCH COST OR MAY BE USED BY THE CORPORATION IN ANY LAWFUL
MANNER.
(I) THE CORPORATION MAY PLEDGE OR ASSIGN ALL OR ANY PORTION
OF ITS REVENUES, ITS RIGHTS TO RECEIVE THEM, OR MONEYS AND
SECURITIES IN THE FUNDS AND ACCOUNTS ESTABLISHED TO SECURE ITS
BONDS AND ANY LIEN OR SECURITY INTEREST GRANTED OR ASSIGNMENT
MADE BY THE CORPORATION. ANY PLEDGE OR ASSIGNMENT SHALL BE VALID
AND BINDING AGAINST ANY PERSON HAVING A CLAIM OF ANY KIND AGAINST
THE CORPORATION, IN CONTRACT, TORT, OR OTHERWISE, IRRESPECTIVE OF
WHETHER THE PERSON HAS NOTICE AND SHALL BE PRIOR TO SUCH CLAIM.
NO RESOLUTION, TRUST INDENTURE, ASSIGNMENT, FINANCING AGREEMENT,
OR OTHER INSTRUMENT CREATING A LIEN ON, SECURITY INTEREST IN, OR
ASSIGNMENT OF ANY REVENUES, ITS RIGHTS TO RECEIVE REVENUES OR
MONEYS AND SECURITIES IN THE FUNDS AND ACCOUNTS PLEDGED TO BONDS
OF THE CORPORATION NEED BE FILED OR RECORDED EXCEPT IN THE
RECORDS OF THE CORPORATION.
(J) THE CORPORATION MAY LEND OR OTHERWISE MAKE AVAILABLE
THE PROCEEDS OF ITS BONDS TO ANY PERSON IN ORDER TO FINANCE OR
REFINANCE THE COSTS OF ANY THE ANY PROJECT, AND MAY ENTER INTO
SUCH FINANCING AGREEMENTS, MORTGAGES, AND OTHER INSTRUMENTS AS IT
MAY DETERMINE TO BE NECESSARY OR DESIRABLE TO EVIDENCE OR SECURE
SUCH LOAN. IF ANY THE ANY PROJECT IS LEASED TO ANY SHE ANY
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