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00919 <br />funds of the County, which nature or are subject to redemption by <br />the owner at the option of the owner on or prior to eighteen <br />(18) months from the *date.of investment therein. Evidences.;of <br />investment . under this Section _703 -shall be held by., o:*-: under the <br />control of the Trustee for the credit of said special account <br />and the interest:accruing thereon and any profit realized there- . <br />from shall be -credited to said special account and any loss <br />resulting from liquidating any such investment shall be charged <br />to such account.. The Trustee shall sell and reduce to cash <br />funds a sufficient portion of investments under the provisions. <br />of'this Section 703 whenever such cash funds are required for - <br />the purposes hereinbefore stated. Any moneys and investments <br />remaining in said special account after providing for retire- <br />ment of all -outstanding bonds shall be paid and delivered to <br />the County but for.the account of the Lessee. <br />Section 704. Anything in this Mortgage to the contrary <br />notwithstanding, no part of the proceeds of the bonds or any <br />other moneys held hereunder shall at any time be used directly <br />or indirectly to acquire securities or obligations, ithe acquisi- <br />tion of which would cause any of the bonds to be an "arbitrage <br />bond", ;as defined in Subsection (d)(2) of Section 103 of the <br />Internal Revenue Code of 1954 of the United States of America <br />,and the regulations of the U.S. Internal Revenue Service there- <br />under, ,subject to treatment under Subsection (d) (1) .:of said'..' <br />Section.103 and said regulations as an obligation not described <br />in Subsection (a)(1) of said Section 103. _ <br />