Laserfiche WebLink
Post -Issuance Debt Compliance Procedures <br />The City Council of the City bf Gerd Lake; Mh' i.as adopted the attached Post=issuatice.Deht Cotnpliaiicc <br />Pnlicy.dated _ _ _ I hr Fast -Issuance Uebt.Compliance Policy applies io all tali-exemt,i <br />dcbt.obfibationsissued by the City. Cq'Getli Lake. As directed by the adoption of the Policv, the City <br />Treasurer ivill perform -the following:Post=ls§u <br />fax -exempt debt.obiig9tion; attce Debt Compliance Prnccdures for the folln�vin <br />—(Title of tax-exempt deb(. obligation) <br />I. Getieral Post -Issuance C.ornpliance <br />a: Ensure written procedures and'orguidelines have.been put in place for individuals to Ulm <br />.when more than one person is .responsible for ensuring compliance with Pest -Issuance <br />Procedures. <br />b. Ensure training, andlor educationei resources for post -issuance compliance have been <br />approved and obtained: <br />C. The City Treasurer of the City Of Gem. Lake: understands that there are optionsfor <br />•voluntariiy correcting failures to wrtiply with post-issuancecompliance requirements (.c... <br />TivitSUry Rvdulat ions 1. f 41-12 remedial .actions, Tax -Exempt Bonds Voluntary Closing <br />Agreemctit Program and the. ability to.emor into a closing agreement.undi r.tlie "I"ax-Exempt <br />Bonds Voluntary C:'losin- Agreement Program describer in Notice. '2001-60). <br />?. General Recordkeepittg <br />a. Retain records and documents for this tax-exempt debt obligation for a period of:at ]cast. six <br />years following the final payment of the .obligation of the final payment t�l''any tax-exempt <br />refunding:debt obligation unless otherwise directed by Bond Counsel. <br />b. Retain botli paper and elcetron versions of records and documents. for this tax-cx6tnpt debt <br />obligation. <br />C. <br />0eneral Records and Documentation to be Assembled and Retained <br />is Description of the purpose of the.tax-exempt debt obligation (refcrr;ci to as tine <br />project) and the state statute autitori.zing the project. <br />Record of tax—exempt status or revpcatiyn of tat -exempt status <br />iii Any co.rrespondence.between City of Gem Lake and. the IRS. <br />iv. Audited financial statements. <br />v. Bond transcripts, of vial statements and other otTlaring documents of tax-exempt <br />debt obligations. <br />-vi; Minutes And resolutions authorizing the issuance of tax-exempt debt obligations. <br />vii. Celtificat ons-orthe issue price of tax-exetnpl. debt obligations. <br />viii. Any fQ11nal elections fortax-exempt debt obligations (Le. election to employ an. <br />accolinting methodology other than the specific (racing method). <br />N. Appraisals, demand surveys, or feasibilit <br />exeMpt debt obligations. y studies for property financed by tax - <br />a. L)oi tiiite)ts related tp goverrtmental grants, associated with..construction, renovations. <br />or purchase of property financed with tac-exempt debt obli+ggat:ions, <br />xi. Reports of and. . 01! IRS examinations ol'the City of Getn Lake -or. -the Citi '.s tax- <br />exempt debt obligations, <br />3.Arbitrage Yield Restrictions Ahd:Rebate Recordkeeping <br />