Management of Sinking Fund

(1) The Central Bank shall manage the Sinking Fund and in particular shall– (a) pay interest and principal repayments payable to bondholders in accordance with the terms of the Bond from the Sinking Fund; and (b) hold monies deposited into the Sinking Fund which are not required immediately for payments under paragraph (a) in treasury securities. (2) The Central Bank shall not be liable to the bondholder for any act or omission by the Central Bank or its employees in the discharge of any duty or function imposed by this Act, except in the case of fraud or gross neglect. Belize City Council (Municipal Bond) [CAP. 85:01 7 (3) The Council shall indemnify the Central Bank and its employees against liability incurred in the performance of a function or duty imposed by this Act. Funds.