For each bond issue, the consultant is to: A. Verify that the issue is subject to the Rebate Requirement. (If not subject, provide a report documenting the release of requirements.) B. Calculate the bond yield, unless previously computed and provided. C. Identify, and separately account for, all “Gross Proceeds” (as that term is defined in the Rebate Requirements) of the bond issue, including those requiring allocation analyses due to “transferred proceeds” and/or “commingled funds” circumstances. D. Calculate the issue’s excess investment earnings (cumulative rebate liability), taking into account any proceeds that are or have become subject to the yield restriction requirements. E. Provide an executive summary identifying the methodology employed, major assumptions, conclusions, and any recommendations for changes in The Authority’s recordkeeping and investment policy. F. Communicate with Authority staff on arbitrage-related matters to improve funds and records management. G. Provide assistance and consultation as necessary to retain records and documentation at least six years after each issue’s final maturity. H. Perform all applicable annual arbitrage rebate calculations through the term of the contract. I. Perform all applicable anniversary arbitrage rebate calculations through the term of the contract. J. Where possible, issue a report presenting the cumulative results since the issue date of the bonds. K. Provide the Authority with a copy of the calculation reports. Include appropriate documentation required to support calculations. L. Prepare all filings required by the Internal Revenue Service necessary for the payments of arbitrage rebates or refunds.
