Guaranteed Investment Contracts. If the investment is a guaranteed investment contract, the winning bid is the highest yielding bona fide bid (determined net of any broker's fees).
Guaranteed Investment Contracts. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. Trust investments in guaranteed investment contracts ("GICs") shall be subject to the following limitations:
Guaranteed Investment Contracts. The City is applying Regulations § 1.148- 5(d)(6)(iii)(A) as amended by the Proposed Regulations (relating to electronic bidding of Guaranteed Investment Contracts) to the Certificates. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. A Guaranteed Investment Contract is a Nonpurpose Investment that has specifically negotiated withdrawal or reinvestment provisions and a specifically negotiated interest rate, and also includes any agreement to supply Investments on two or more future dates (e.g., a forward supply contract). The purchase price of a Guaranteed Investment Contract is treated as its Fair Market Value on the purchase date if:
Guaranteed Investment Contracts. 2. Provides the district with a prospectus and other information required by the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.) or the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.); and
Guaranteed Investment Contracts. In accordance with the Public Funds Investment Act or applicable laws, proceeds from the issuance of, or entering into, Obligations may be invested in one or more guaranteed investment contracts as authorized by law. In the event that the Corporation Representative determines that it would be in the best interests of the Corporation to invest part or all of the amounts in the Project Fund in a guaranteed investment contract, the Corporation Representative shall ensure that the Corporation complies with the requirements of such laws.
Guaranteed Investment Contracts. The Issuer and the Borrower are applying Regulations § 1.148-5(d)(6)(iii)(A) as amended by the Proposed Regulations (relating to electronic bidding of Guaranteed Investment Contracts to the Bonds. The purchase price of a Guaranteed Investment Contract is treated as its fair market value on the purchase date if all of the following requirements are met:
Guaranteed Investment Contracts. The purchase price of a guaranteed investment contract is treated as its fair market value on the purchase date if (i) the Concessionaire makes a bona fide solicitation from at least three reasonably competitive providers (i.e., a provider that has an established industry reputation as a competitive provider of the type of investments being purchased) for a specified guaranteed investment contract and receives at least three bona fide bids from providers (one of which is from a reasonably competitive provider) that have no material financial interest in the issue (e.g., a lead underwriter, financial advisor or broker); (ii) the Concessionaire purchases the highest-yielding guaranteed investment contract for which a qualifying bid is made (determined net of broker’s or other third party’s fees); (iii) the yield on the guaranteed investment contract (determined net of broker’s or other third party’s fees) is not less than the yield then available from the provider on reasonably comparable guaranteed investment contracts, if any, offered to other persons from a source of funds other than gross proceeds of tax- exempt obligations; (iv) the determination of the terms of the guaranteed investment contract takes into account as a significant factor the Concessionaire’s reasonably expected drawdown schedule for the amounts to be invested, exclusive of amounts deposited in debt service funds and reasonably required reserve or replacement funds; (v) the terms of the guaranteed investment contract, including collateral security requirements, are reasonable; (vi) the obligor on the guaranteed investment contract certifies the administrative costs that it is paying (or expects to pay) to third parties in connection with the guaranteed investment contract; and (vii) the fee does not exceed the lesser of (a) $38,000 or (b) the greater of (A) 0.2 percent of the amount of gross proceeds the Concessionaire reasonably expects, as of the date the contract is acquired, to be deposited in the contract over the term of the contract, or (B) $4,000. The Issuer or the Concessionaire must maintain records adequate to determine the fair market value of the investments described above. EXHIBIT A CERTIFICATE OF THE UNDERWRITER EXHIBIT B FINANCED FACILITIES AND ECONOMIC LIFE CALCULATIONS Financed Facility Project Cost Useful Life (years)1 - Phase 2 Work $19,231,830.25 40 - Capitalizable work/equipment to be 370,000.00 15 performed/purchased by Transfield Services Infrastructure Inc. 1 U...
Guaranteed Investment Contracts. For purposes of computing the yield on any investment contract acquired through a broker. Tax Counsel has advised that any compensation received by such broker, whether payable by or on behalf of the obligor or obligee of such investment contract may be taken into account in determining the cost of the il1\ estmcnl contract to the extent that the amount of the fee the Governmental Lender treats as d "'qualified administrative cost'" (within the meaning of Section 1.148-5( e )(2)(ii i) of the Treasury Regulations). For calendar year 2011, compensation is deemed reasonable if does not exceed the lesser of(i) $36,000 or (ii) 0.2% ofthe amount reasonably expected, as ofthe date of acquisition of the investment contract, to be invested under the investment contract over its term, or $4.000 (if 0.2% of such amount reasonably expected to be invested under the investment contract over its term is less than $4,000). In addition, the total fees received by the broker vvith respect to the investment of any proceeds of the Bonds that are taken into account with respect to all investment contracts. at any time. may not exceed $10 I ,000. The dollar amounts referenced arc subject to the cost-of-living adjustment provided in Section 1.148-5(e)(2)(iii)(B) ofthe Treasury Regulations.
