Willdan Arbitrage Contract - Laserfiche WebLink

Home

Consulting Services Agreement between City of San Leandro and Last revised 01/06/2025 Willdan Financial Services for Arbitrage Rebate Services Exhibit A – Page 1 of 3 EXHIBIT A SCOPE OF SERVICES Task 1: Define Compliance Needs and Provide Implementation Schedule Objective: Obtain bond documents, prior reports, and transactional data necessary to prepare arbitrage computations. Description: WFS will review the bond documents and prior reports provided by the Client and assess the special elections made at issue and the availability of regulatory exceptions. Task 2: Verify Bond Yield and Prepare Arbitrage Rebate and Yield Restriction Analysis Objective: Compute the cumulative arbitrage rebate liability and/or yield reduction payment accrual for each bond. Description: Utilizing data provided by the Client and authorized third parties, WFS will: ▪ Verify the bond yield as stated in the bond documents; ▪ Identify the bond proceeds subject to arbitrage rebate compliance; ▪ Assume all expenditures of bond proceeds have been made in accordance with Section 148(f) of the Internal Revenue Code; ▪ Compute investment earnings, taking into account the proper allocation of commingled funds; ▪ Future value transactions to the computation date; ▪ Test for exceptions to rebate and penalty in-lieu requirements; ▪ Analyze unspent project funds and overfunded reserves subject to yield restriction pursuant to Section 148(f) of the Internal Revenue Code; ▪ Determine the cumulative arbitrage liability pursuant to Section 148(f) of the Internal Revenue Code; and ▪ Determine the yield reduction payment pursuant to Section 148(f) of the Internal Revenue Code. Task 3: Review and Assess Analysis Outcome Objective: Multi-tiered review of each prepared report and internal discussion of assumptions and opportunities to reduce the rebate liability. Description: Proper application of the arbitrage rebate regulations requires understanding the purpose of the financing and the investment and expenditure of bond proceeds. Once the mathematical analysis is complete, a comprehensive review of the report will be performed noting computational assumptions and technical issues to be evaluated. If appropriate, these issues will be communicated to the Client. Deliverable: Possible discussion with your staff. Exhibit A Willdan Financial Services Page 8 City of San Leandro Task 4: Conclusions, Recommendations, and Action Plan Objective: Develop conclusions, recommendations, and produce reports. Description: WFS will deliver a cumulative inception to current bond year arbitrage rebate report for each bond under contract and, if warranted, will offer recommendations for actions to be taken including: ▪ Areas where allocation and accounting methodology could be enhanced; ▪ Identification of technologies not currently in use that may be applicable and appropriate for future consideration; ▪ Identification of obstacles or challenges that could prevent timely or accurate compliance; and ▪ Instructions for filing IRS forms. Deliverable: Completed arbitrage rebate report for each bond under contract inclusive of: Docusign Envelope ID: 19D18A09-CE89-4CD2-B354-FF41C78B7AAD