10A Action Items 2018 0402 - Laserfiche WebLink

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9 Verification of Mathematical Accuracy ___________ (the “Verification Agent”), upon delivery of the 2018 Bonds, will deliver a report of the mathematical accuracy of certain computations, contained in schedules provided to them on behalf of the Successor Agency, relating to (a) the sufficiency of the anticipated amount of proceeds of the 2018 Bonds and other funds available to pay, when due, the principal, whether at maturity or upon prior redemption, interest and redemption premium requirements of the Prior Bonds and (b) the “yields” on the amount of proceeds held and invested prior to redemption of the Prior Bonds and on the 2018 Bonds considered by Bond Counsel in connection with the opinion rendered by Bond Counsel that the 2018 Bonds are not “arbitrage bonds” within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended. The report of the Verification Agent will include the statement that the scope of their engagement is limited to verifying mathematical accuracy, of the computations contained in such schedules provided to them, and that they have no obligation to update their report because of events occurring, or data or information coming to their attention, subsequent to the date of their report. Estimated Sources and Uses of Funds The estimated sources and uses of funds related to the 2018 Bonds are summarized below. 2018A Bonds 2018B Bonds Total Sources: Principal Amount $ $ $ Plus: Prior Bonds - Available Funds Plus/Less: Net Original Issue Premium/Discount Total Sources $ $ $ Uses: Prior Bonds Escrow Account $ $ $ Costs of Issuance(1) Total Uses $ $ $ _______________ (1) Costs of Issuance include fees and expenses for Bond Counsel, Disclosure Counsel, Municipal Advisor, Fiscal Consultant, and the Trustee, Underwriter’s discount, premium for reserve fund surety policy, printing expenses, rating fee, and other costs related to the issuance of the 2018 Bonds. 114