Time-Period Records Must Be Retained: Electronic Storage Permitted. Unless otherwise specifically instructed in a written Opinion of Bond Counsel or to the extent otherwise provided in this Tax Agreement, the Trustee on behalf of the Bond Compliance Officer shall retain records related to Post-Issuance Tax requirements until 3 years following the final maturity of (i) the Bonds or (ii) any obligation issued to refund the Bonds. Any records maintained electronically must comply with Section 4.01 of Revenue Procedure 97-22, which generally provides that an electronic storage system must (3) ensure an accurate and complete transfer of the hardcopy records which indexes, stores, preserves, retrieves and reproduces the electronic records, (2) include reasonable controls to ensure integrity, accuracy and reliability of the electronic storage system and to prevent unauthorized alteration or deterioration of electronic records, (3) exhibit a high degree of legibility and readability both electronically and in hard copy; (4) provide support for other books and records of the Borrower and (5) not be subject to any agreement that would limit the ability of the IRS to access and use the electronic storage system on the Borrower’s premises.
Time-Period Records Must Be Retained: Electronic Storage Permitted. Unless otherwise specifically instructed in a written Opinion of Bond Counsel or to the extent otherwise provided in this Tax Agreement, the District in accordance with the Tax Compliance Procedures shall retain records related to the Post-Issuance Tax Requirements until three (3) years after (i) the last outstanding Bond is Discharged and (ii) the last outstanding obligation, if any, issued to refund any of the Bonds is Discharged. Any records maintained electronically must comply with Section 4.01 of Revenue Procedure 97-22, which generally provides that an electronic storage system must (1) ensure an accurate and complete transfer of the hardcopy records which indexes, stores, preserves, retrieves and reproduces the electronic records, (2) include reasonable controls to ensure integrity, accuracy and reliability of the electronic storage system and to prevent unauthorized alteration or deterioration of electronic records,
