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(f) Records and agreements related to any trade or business activities by or with <br />non -governmental entities or persons with respect to any facilities financed <br />with the proceeds of governmental bonds, including, but not limited to, <br />management agreements and leases; and <br />(g) Documentations of all sources of payment or security for the issue. <br />The basic purpose of the foregoing record retention procedure for the City's governmental <br />bonds is to enable the City to readily demonstrate to the IRS upon a questionnaire or an audit of <br />any bond issue that the City has fully complied with all federal tax requirements that must be <br />satisfied after the issue date of the bonds. <br />4. Reissuance. <br />The following policies relate to compliance with rules and regulations regarding the <br />reissuance of bonds for federal law purposes. <br />The Finance Director will: <br />(a) Identify and consult with Bond Counsel regarding any post -issuance change <br />to any terms of an issue of bonds which could potentially be treated as a <br />reissuance for federal tax purposes; and <br />(b) Confirm with Bond Counsel whether any "remedial action" in connection <br />with a "change in use" (as such terms are defined in the Code and Treasury <br />Regulations) would be treated as a reissuance for tax purposes and, if so, <br />confirm the filing of any new Form 8038-G. <br />5. Direct Pay Bonds. <br />6 <br />4553512v1 <br />