Arbitrage Rebate Services. Arbitrage rebate services encompasses those activities associated with computing the rebate liability (if any) related to the bonds. The computations will be prepared as described in Section 148 (f) (2) of the Internal Revenue Code of 1986, as amended. The specific activities and tasks associated with the determination of arbitrage rebate liability include the following:
Arbitrage Rebate Services a. The Client desires to have the Adviser perform arbitrage rebate calculation services in connection with the Adviser’s management of proceeds of tax- exempt bonds (the “Bonds”) under this Agreement (such services shall be provided without additional cost with respect to a series of the bonds only if 100% of the proceeds less amounts immediately payable such as legal and issuance costs and reimbursements for expenses previously incurred such as engineering and land acquisition costs of such series of bonds is invested pursuant to this Agreement; such services will be provided with additional fee with respect to a series of bonds if only part of the proceeds of such bonds is invested pursuant to this Agreement).
Arbitrage Rebate Services. Annual arbitrage rebate is provided for a cost of $1,250 per year plus an initial setup fee of $500. Calculations provided each five years in-lieu of annual calculations are provided for a cost of $4,000 plus an initial setup fee of $500.
