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by the obligor to call on the date specified in the <br />notice; and <br />(A) which are rated, based on an irrevocable escrow <br />account or fund (the "escrow"), in the highest rating <br />category of S&P and Moody Is or any successors thereto; or <br />(B)(i) which are fully secured as to principal and <br />interest and redemption premium, if any, by an escrow <br />consisting only of cash or obligations described in <br />paragraph A(2) above, which escrow may be applied only to <br />the payment of such principal of and interest and <br />redemption premium, if any, on such bonds or other <br />obligations on the maturity date or dates thereof or the <br />specified redemption date or dates pursuant to such <br />irrevocable instructions, as appropriate, and (ii) which <br />escrow is sufficient, as verified by a nationally <br />recognized independent certified public accountant, to <br />pay principal of and interest and redemption premium, if <br />any, on the bonds or other obligations described in this <br />paragraph on the maturity date or dates specified in the <br />irrevocable instructions referred to above, as <br />appropriate. <br />(7) investment agreements approved in writing by AMBAC <br />Indemnity Corporation (supported by appropriate opinions <br />of counsel) with notice to S&P; <br />(8) the Local Government Surplus Trust Fund, pursuant to <br />Chapter 218, Part IV, Florida Statutes; and <br />(9) other forms of investments (including repurchase <br />agreements) approved in writing by AMBAC with notice to <br />S&P. <br />The value of the above investments shall be determined as <br />follows: <br />"Value", which shall be determined as of the end of each <br />month, means that the value of any investments shall be <br />calculated as follows: <br />(1) as to investments the bid and asked prices of which <br />are published on a regular basis in The Wall Street <br />Journal (or, if not there, then in The New York <br />Times): the average of the bid and asked prices for <br />such investments so published on or most recently <br />prior to such time of determination; <br />(2) as to investments the bid and asked prices of which <br />are not published on a regular basis in The Wall <br />Street Journal or The New York Times: the average <br />4 <br />