Historically there are many piles of paper documents on the conference table for various parties to sign and authorize a debt issue at closing. Among those documents is one called the “Non-Arbitrage Certificate,” “Certificate As To Use of Proceeds,” “Arbitrage Tax Certificate” or something similarly titled. Within this document, the issuer agrees to take whatever actions are needed to maintain the issue’s tax-exempt status and agrees to post-issuance compliance, including...
Refunded Bonds and Arbitrage Rebate Compliance
Read More » Posted on Jun 11, 2020