Arbitrage is when an asset (stocks, currencies, etc.) is bought in one market and sold in another for a higher price. It is the policy of CAC to invest public funds in a manner which will provide the highest return with the maximum security while meeting cash flow demands.Changes in interest rates can give rise to arbitrage opportunities that, while short-lived, can be very lucrative for traders who capitalize on them. NOW THEREFORE, BE IT RESOLVED BY THE COUNTY COUNCIL OF. CUYAHOGA COUNTY, OHIO, THAT: SECTION 1. Definitions. (a). "Sales Tax Revenue Bond Indenture" means the Trust Indenture dated as of December 1, 2014 between the County and the Sales Tax Revenue Bond. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness,. We have reviewed the Independent Auditor's Report of the Cuyahoga Valley Career Center, Cuyahoga.