The Contractor shall be responsible for all professional services needed to monitor, calculate, and document the City’s compliance with federal arbitrage rebate and yield restriction requirements. These services are intended to safeguard the tax-exempt status of the City’s debt. Specific tasks will include, but are not limited to, the following: 1. Arbitrage & Yield Restriction Calculations a. Annual and five-year anniversary arbitrage rebate computations for each applicable bond issue. b. Yield restriction analyses and calculations for Project Funds, Reserve Funds, Escrow Funds, and other yield-restricted funds. c. Commingled funds analyses and calculations when bond proceeds are mixed with other funds. d. Parity reserve fund allocations across multiple bond issues. e. Transferred proceeds calculations for refunded or restructured issues. f. Universal cap calculations for overall non-purpose investment limitations. g. Debt service fund calculations, including the IRS earnings test when required. 2. Exception & Special Rule Analyses a. Spending exception analyses and calculations (6-month, 18-month, and 2-year spending exceptions). b. Application of penalty-in-lieu-of-rebate elections, including semi-annual penalty calculations...
