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10 <br /> • <br /> and all rights to interest and sale proceeds are vested in the <br /> Agency; <br /> 42.3.4 Credit or debit the appropriate money account of the Agency in <br /> connection with the purchase, sale, maturity, redemption, income, <br /> dividends, or other disposition of securities and other assets held <br /> for the time being on behalf of the Agency in said accounts on a <br /> contractual settlement basis. The Bank reserves the right to <br /> reverse any such crediting at any time before actual receipt of the <br /> item associated with the credit when the Bank determines that <br /> actual receipt will not be received in due course for such an item. <br /> 42.3.4.1 In order to secure repaymentof an advance of funds <br /> made in connection with a purchase of securities, the <br /> Bank shall have a purchase money security interest in, <br /> and a security entitlement with respect to, all of the <br /> Agency's right, title, and interest in and to the securities <br /> acquired with such advance (including proceeds <br /> thereof). The Bank shall, with respect to such purchase <br /> money security interest, be entitled to all the rights and <br /> remedies of a pledgee and secured creditor under <br /> applicable laws, rules, or regulations as then in effect. <br /> 42.4 Agency Clearing Account. The Bank shall establish clearing accounts <br /> for the Agency, as directed by the Agency. These accounts shall <br /> accurately reflect transactions of all kinds, with respect to securities of the <br /> Agency. These accounts are not to be construed as Depository Accounts. <br /> The Bank shall, on a contractual basis, credit or debit the Agency account <br /> on the contractual settlement date, in connection with all trading <br /> transactions, income and principal payments to include, but not be limited <br /> to purchases, sales, maturities, redemptions, interest, or any other principal <br /> and income event. <br /> At the close of each business day, there shall be no "public funds" (as <br /> defined in RCW 39.58.010(16) now or as hereafter amended) in the <br /> clearing accounts. <br /> All "public funds" (as defined above) in an account shall be returned to <br /> the Agency prior to the close of business. <br /> 42.4.1 The Agency retains the exclusive authority to manage the assets of <br /> the Agency within the Bank's custody. This includes the <br /> determination of which investments shall be made, what and when <br /> securities shall be sold or encumbered, the terms or conditions of <br /> any transaction, and the disposition of cash on hand. The Bank <br /> Statewide Custody Provider Program <br /> Agreement for Custody Services 21 <br /> 123 <br />