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TEMPLATE <br />Last Updated: 642009 <br />The City of Arden Hills may in the future issue tax-exempt debt obligations for beneficiaries of tax-exempt <br />proceeds such as 501(c)3 non-profit organizations or Industrial Revenue Bonds. This Policy applies to all <br />OV, tax-exempt debt obligations.Lin order to ensure future compliance with this Policy, the City of Arden Hills <br />•slraH consider issuing tax-exempt debt obligations for beneficiaries only when the beneficiary has retained <br />a Trustee and an independent arbitrage consultant for the term of the tax-exempt debt obligation and this <br />Policy has been incorporated into the Trust Indenturo.The Trustee and the independent arbitrage consult <br />must be retained prior to issuance of the tax-exempt debt obligation. <br />Adopted this date by the City Council of the City of Arden Hills. <br />is <br />0 <br />