Laserfiche WebLink
EXHIBIT A <br />PERMITTED INVESTMENTS <br />A. AMBAC Indemnity will allow the following obligations to be used as Permitted <br />Investments for all purposes, Including defeasance investments in refunding escrow <br />accounts. <br />(AMBAC Indemnity no longer gives a premium credit for the investment of accrued <br />and/or capitalized interest.) <br />(1) Cash (insured at all times by the Federal Deposit Insurance Corporation or <br />otherwise collateralized with obligations described in paragraph (2) below), <br />or <br />(2) Direct obligations of (including obligations issued or held in book entry form <br />on the books of) the Department of the Treasury of the United States of <br />America. <br />B. AMBAC Indemnity will allow the following Obligations to be used as Permitted <br />Investments for all purposes other then defeasance investments in refunding escrow <br />accounts. <br />(1) obligations of any of the following federal agencies which obligations <br />represent full faith and credit of the United States of America, including: <br />- Export - Import Bank <br />Farmers Home Administration <br />General Services Administration <br />U.S. Maritime Administration <br />- Small Business Administration <br />- Government National Mortgage Association (GNMA) <br />U.S. Department of Housing & Urban Development (PHA's) <br />Federal Housing Administration; <br />(2) bonds, notes or other evidences of indebtedness rated "AAA" by Standard <br />& Poor's Corporation and "Aad" by Moody's Investors Service issued by the <br />Federal National Mortgage Association or the Federal Home Loan Mortgage <br />Corporation with remaining maturities not exceeding three years; <br />(3) U.S. dollar denominated deposit accounts, federal funds and banker's <br />acceptances with domestic commercial banks which have a rating on their <br />short term certificates of deposit on the date of purchase of "A-1" or "A-1 +" <br />by Standard & Poor's and "P-1" by Moody's and maturing no more than <br />360 days after the date of purchase. (Ratings on holding companies are <br />not considered as the rating of the bank); <br />Page 1 of 3 pages <br />