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accordance with Florida Statutes section 1011 . 32 (4) (2004 ) for the Library Facility . The FOUNDATION , the TRUSTEES , the COUNTY , and the CLERK acknowledge and agree that : a) the County Contribution shall be deposited into the FOUNDATION Matching Account ; b ) the County Contribution is the maximum amount that the COUNTY is obligated to contribute to the FOUNDATION Matching Account under this Agreement ; and c ) interest earnings on the County Contribution shall be deposited into the FOUNDATION Matching Account and disbursed as set forth in this Agreement . 3 . 2 . TRUSTEES Matching Account . The COUNTY , the CLERK , the FOUNDATION , and the TRUSTEES acknowledge and agree that : a) appropriations by the Florida Legislature for the Library Facility are disbursed directly to the TRUSTEES ; b ) immediately upon the receipt by the TRUSTEES of any and all appropriations by the Florida Legislature for the Library Facility , the TRUSTEES shall promptly deposit same into a separate capital facilities matching account maintained in a Qualified Public Depository (the "TRUSTEES Matching Account") held , invested , and disbursed solely as provided in this Agreement ; c) immediately upon the receipt by the TRUSTEES of any and all appropriations by the Florida Legislature for the Library Facility , the FOUNDATION shall promptly transfer the County Contribution held in the FOUNDATION Matching Account to the TRUSTEES to be deposited into the TRUSTEES Matching Account to be held , invested , and disbursed solely as provided in this Agreement ; provided , however , that such transfer of the County Contribution from the FOUNDATION Matching Account to the TRUSTEES Matching Account may only occur with the prior written authorization of the CLERK . 4 . INVESTMENT MATTERS , 4 . 1 . Authorized Investments . To the maximum extent allowed by Florida law , the County Contribution in the TRUSTEES Matching Account , and the County Contribution in the FOUNDATION Matching Account shall be invested by the TRUSTEES and the FOUNDATION , respectively , only in the following legal investments for COUNTY funds as set forth in the Indian River County Investment Policy dated August 17 , 2004 (" Investment Policy") : . 1 . Direct obligations of the United States Treasury ; . 2 . State of Florida Local Government Surplus Funds Trust Fund ( SBA) ; . 3 . Florida Local Government Investment Trust Fund ( FLGIT) ; . 4 . Interest- bearing time deposits or savings accounts in qualified public depositories as defined in Florida Statutes Section 280 . 02 , . 5 . Federal agencies and instrumentalities ; . 6 . Securities of, or other interests in , any open -end or closed - end management-type investment company or investment trust registered under the Investment Company Act of 1940 , 15 U . S . C . sections 80a= 1 et seq . , as amended from time to time , provided that the portfolio of such investment company or investment trust is limited to obligations of the United States Government or any agency or instrumentality thereof and to repurchase agreements fully collateralized by such United States Government obligations , and provided that such investment company or investment trust takes delivery of such 4