Investor Presentaiton

. Trustee/Escrow/Verification Agents Trustee Financial institution with trust powers given fiduciary powers by a bond issuer to enforce the terms of a bond indenture Ensures bond interest payments are made and protects the interests of the bondholders in the event of default Roles Specific to Refunding Bonds Escrow Agent - Serves as custodian of the funds and holds securities to pay debt service on refunded bonds Verification Agent - Verifies cash flow sufficiency to the call date of the escrowed securities 11 CPIM Academy 2018// FIN 162

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