Specifications include, but are not limited to: 1. Assess all outstanding bond issues to determine the existing level of arbitrage compliance and future compliance needs. 2. Calculate the bond yields. 3. Calculate the excess investment earnings, if any, and required rebate owed to the Federal Government within the legally permitted time period. For those issues for which that time period has expired, calculations are to be completed within sixty (60) days from the date a contract is issued by the City. 4. Assist the City as necessary in the event of an Internal Revenue Service (IRS) inquiry. 5. Provide consultation to City staff as necessary regarding arbitrage matters. Train and advise City staff on arbitrage‐related matters to improve funds and records management. 6. Provide assistance and consultation as necessary to retain records and documentation at least ten (10) years after the issue’s final maturity. 7. Review the cash flow and investment information provided by the issue of bonds, notes or other debt instruments. 8. If applicable, inform the City of the obligation to deposit in a rebate fund any excess earnings based on the calculations performed. 9.Prepare a rebate report for the City setting forth computations, assumptions and instructions for filing. 10.Provide the City with authoritative calculations and certifications required to meet arbitrage rebate requirements of federal tax laws and regulations. 11.Complete and provide for filing with the Internal Revenue Service a Form 8038‐T for each issue for which there are excess earnings. 12.Maintain past reports for future reference. 13.Review all relevant portions of the Bond transcripts and appropriate sections of the Internal Revenue Code. 14.Verify that the issue is subject to the Rebate Requirement. If not subject, provide a report documenting release of requirements. 15.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.