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a. Investment: and Arbitrage. Documentation to be,Assembled and Retained <br />i. An accounting of a11. deposits, expenditures, interest incoin.e and assec.iialances <br />associated with each Fund established in connection will) each tax=extimpt debt <br />obligations, This includes an accounting ofall monies deposited to the Dcbt Sorvice <br />Account to snake .debt service payments on the tax-exempt debt obii;ationS: <br />tegiardltss of the Source dcrivcd. Accounting for expenditure anal assets is desObed <br />in .further detai I in Section 3b: <br />ii. Statements prepared by'fillstec or Investment. Provider. <br />iii. Documentation cif at least quarterly allocations of investments. and investment <br />earnings to each. tax-exempt -debt obligation [.i.c. uncommingling.analysis). <br />iv. Documentation for investments. shade with tax-exempt proceeds such as; <br />1. Investi ion contracts (i.e. guaranteed investment contracts). <br />2, Credit enhancement transactions (i.e: Hong.. isstiancc contracts), <br />. Financial derivatives (swaps,: caps, etc). <br />4..Qiddijl_R of financial products: <br />a. Investments. acclimed with tax-exempt proceeds are purchased at fair market <br />vattie.(.i.e..three bids fnr open market.se.curities needed in advance refunding <br />escrows). <br />b. Computations of the arbitra ,e l field, <br />c..Computations of yield restriction arid rebate.arnounts including but not limited-td. <br />is Compliance in meeting the "Temporary Period from Yield Restriction Exceolioti" <br />-and liaii+ing the investment of.ftinds atier.the temporary period ox#i res. <br />ii, Compliance in meeting the"Rebate .E;xception". <br />I.Qualil'ving for the "Small Issuer Exception". <br />2..QualifyinL,. fora "Spending.Exception". <br />• 6 Month.. Spending .Exc pt.ion <br />• 18 Month Spending t>xception <br />• 24 Month Spending Lxc.eptioit <br />3.QualifVhig for the "Rona i•ide'Debt Service. Fund Exceptibn"., <br />4.Quantifying arbitrage on all funds established in connection with the tax-exempt <br />debt .obligations in Iieu of satisfyingarbitrage exceptions (including Reserve Funds <br />and Debt Service funds). <br />d..(:'onipuiatiotwof yield restriction and rebate payments. <br />c. Timely ;1`ax Pont) 8038-T fling, if applicable. <br />i.. Reinit any arbitrage liability associated with this tax-exempt debt obligation to the <br />IRS at each five year anniversary date: of the obligation; and tlie.date iii whic.li tile <br />obiigationis not I01l0e1'outstanding (redemption or maturity .date), whir:licver comes <br />sooner, within GO days ofsaid date. <br />f. Timely "fax Form 8038-R fflin­. il'applicable. <br />g. Procedures or guidt;lines for monitoHng instances where compliance with applicable yield <br />restriction requirements depends on subsequent reinvestment of tax-exe.tnpt prkoeds in <br />lo.weryielding iiivestments (Le, reinvestment: in zero coupon SL.GS). <br />4, tpendiiure-and Asset bocumentation to be Assembled and kct®ined <br />a. Documentation of allocations of tax-exempt: proceedsto oxpend.itures (i.e. allocation of.' <br />proceeds to expenditures for the construction. renovation pupurchase of facilities .owned <br />and used in the performance o.f esemli.t purposes). <br />b. Documentation of allocations oFtax-exemptproceeds to issuance costs. <br />e. Copies ofrequisitions, draw schedules. draw requests, invoices, bills and cancelled checks <br />related to tax-exempt proceed expenditures during the construction. period. <br />d.Copies ofall contracts entered into for the. construction, renovation or purchase of facilities• <br />financed with tax-exempt proceeds. <br />