for deposit in the Bond Fund to pay interest on the Series 2022 Bond on the next interest payment date. (c) Refunding Trust Agreement; Administration of Refunding Plan. The Authorized Representative is authorized to execute a Refunding Trust Agreement setting forth the duties, obligations, and responsibilities of the Refunding Trustee in connection with carrying out the Refunding Plan. The Refunding Trust Agreement, among other things, may authorize and direct the Refunding Trustee to purchase the Acquired Obligations and to make the payments required to be made by the Refunding Plan. All Acquired Obligations and the money deposited with the Refunding Trustee and any income therefrom shall be held irrevocably, invested, and applied in accordance with the provisions of the Refunded Bond Resolutions, the Master Resolution, this Series Resolution, chapter 39.53 RCW and other applicable State law. All administrative costs (including all necessary and proper fees, compensation, and expenses of the Refunding Trustee and all other costs incidental to the setting up of the escrow to accomplish the Refunding Plan) and costs of issuance of the Series 2022 Bond may be paid out of the amounts deposited with the Refunding Trustee or other available money of the University, in accordance with the Refunding Trust Agreement. (d) The University calls for redemption on the Redemption Date all of the Refunded Bonds at a price equal to the principal amount thereof plus accrued interest. Such call shall be irrevocable after the Series 2022 Bond is delivered to the Purchaser. The Treasurer is authorized and directed to give or cause to be given such notices as required, at the times and in the manner required, pursuant to the Refunded Bond Resolutions, and to take all other actions necessary to effect the redemption of the Refunded Bonds on the Redemption Date.
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FG:74303161.4
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