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199 4. Reissuance. <br />zoo The following policies relate to compliance with rules and regulations regarding the reissuance of <br />201 bonds for federal law purposes. <br />202 The Finance Director will: <br />203 (a) Identify and consult with Bond Counsel regarding any post - issuance change to any <br />204 terms of an issue of bonds which could potentially be treated as a reissuance for <br />205 federal tax purposes; and <br />206 (b) Confirm with Bond Counsel whether any "remedial action" in connection with a <br />207 "change in use" (as such terms are defined in the Code and Treasury Regulations) <br />208 would be treated as a reissuance for tax purposes and, if so, confirm the filing of any <br />209 new Form 8038-G. <br />210 5. Direct Pay Bonds. <br />211 (a) In addition to the other requirements herein, should the City issue direct pay bonds <br />212 pursuant to Sections 54A through 54F of the Code, the Finance Director shall also <br />213 be responsible for: <br />214 (i) determining the amount of interest payable on each interest payment date <br />215 and the proper amount of refundable credit reported on Form 8038 -CP; <br />216 (1) as appropriate, the Finance Director shall compare the interest <br />217 payment calculations to any independently- verified report prepared <br />218 at closing for the bond issue; and <br />219 (2) the Finance Director shall approve all disbursements. <br />220 (ii) preparing and timely filing all Forms 8038 -CP; <br />Page 9 of 12 <br />