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w + <br /> the amounts on deposit in the Reserve Account and the Reserve Account Requirement shall be an <br /> amount covered by a letter of credit rated in one of the two highest categories by nationally <br /> recognized rating agencies, by a surety bond acceptable to any company issuing a policy of municipal <br /> bond insurance guaranteeing the payment of principal and interest on the Bonds, or any combination <br /> thereof. Moneys in the Reserve Account shall be used only for the purpose of the payment of <br /> Amortization Installments, principal of, or interest on the Bonds when the other moneys allocated to <br /> the Debt Service Fund are insufficient therefor, and for no other purpose. <br /> Moneys in the Reserve Account shall be valued at cost. In the event of the refunding of the <br /> Bonds, the Issuer may withdraw from the Reserve Account all or any portion of the amounts <br /> accumulated therein with respect to the Bonds being refunded and deposit such amounts as required <br /> by the Resolution or resolution authorizing the refunding of such Bonds; provided that such <br /> withdrawal shall not be made unless (a) immediately thereafter, the Bonds being refunded shall be <br /> deemed to have been paid pursuant to the provisions hereof, and (b) the amount remaining in the <br /> Reserve Account after giving effect to the issuance of such refunding obligations and the disposition <br /> of the proceeds thereof shall not be less than the Reserve Account Requirement for any Bonds then <br /> Outstanding. Any excess moneys on deposit in the Reserve Account shall be transferred by the Issuer <br /> to the Debt Service Fund. <br /> Any credit instrument provided in lieu of a cash deposit into the debt service reserve fund, <br /> other than the Surety Bond provided by the Bond Insurer, shall conform to the requirements set forth <br /> in Exhibit F attached hereto entitled "Reserve Account Surety Guidelines." <br /> (3) The balance of any moneys remaining in the Revenue Fund at the end of each <br /> month, after the above required payments have been made, may be used by the Issuer for any lawful <br /> purpose; provided, however,that none of said money shall be used for any purposes other than those <br /> hereinabove specified unless all current payments, including any deficiencies for prior payments, have <br /> been made in full and unless the Issuer shall have complied fully with all the covenants and provisions <br /> of this Resolution. <br /> (4) In determining the amount of any of the payments required to be made <br /> pursuant to this Section, credit may be given for all investment income accruing to the respective <br /> funds and accounts described herein, except as otherwise provided. <br /> C. INVESTMENT OF FUNDS. The Debt Service Fund, the Rebate Fund, the Revenue <br /> Fund, the Construction Fund, and any other special funds herein established and created shall <br /> constitute trust funds for the purposes provided herein for such funds. All such funds until invested <br /> shall be continuously secured in the same manner as state and municipal deposits are required to be <br /> secured by the laws of the State of Florida. Moneys on deposit in any of such funds and accounts <br /> may be invested and reinvested in Authorized Investments. <br /> Investments made with moneys in the Construction Fund, the Revenue Fund and the Debt <br /> Service Fund (except the Bond Amortization Account therein), must mature not later than the date <br /> that such moneys will be needed. Investments made with moneys in the accounts in the Bond <br /> 15 <br />