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2003-337
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2003-337
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Last modified
1/23/2017 11:40:09 AM
Creation date
9/30/2015 7:09:55 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Correspondence
Approved Date
12/16/2003
Control Number
2003-337
Agenda Item Number
7.C.
Entity Name
Bond Logistix, LLC ("BLX")
Subject
Arbitrage Rebate Compliance Services Agreement
Archived Roll/Disk#
3208
Supplemental fields
SmeadsoftID
3553
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i6 - os <br /> -a 7666 Fifth Avenue of <br /> \\' BOND LO G T 11 X LLC New York , NY 10103 <br /> r` Phone 212 506 5200 Fax 212 506 5151 <br /> `., INSIGHT . INNOVATION . INTEGRATION . <br /> www. bondlogistix . com <br /> November 10 , 2003 <br /> Mr. Edwin M. Fry <br /> Finance Director <br /> Indian River County <br /> Clerk of Circuit Court <br /> 1840 25th Street <br /> Vero Beach, FL 32960 -3394 <br /> Re : Arbitrage Rebate Compliance Services <br /> Dear Mr. Fry : <br /> This letter is to confirm the engagement of Bond Logistix LLC ( "BLX" ) by Indian River County <br /> ("Obligor" ) for the purpose of performing calculations relating to the arbitrage and rebate requirements <br /> contained in the Internal Revenue Code (the " Code" ) . The calculations are to be performed with respect <br /> to the bond issue(s) listed on Exhibit A hereto (the "Bonds ") applying applicable federal tax rules . <br /> BLX will calculate the amount of rebate liability with respect to the Bonds once per year as of the end of <br /> each bond year (unless specifically directed in writing otherwise by the Obligor) and as of the final <br /> maturity or redemption of the Bonds (each such date on which a rebate calculation is performed is <br /> referred to herein as a " Rebate Calculation Date " ) applying regulations of the United States Department <br /> of the Treasury (" Treasury" ) in effect on such Rebate Calculation Date . In addition, if a "penalty in lieu <br /> of rebate" election under Code Section 148 (f)(4) (C)(vii) has been made by the Obligor with respect to the <br /> Bonds , BLX will calculate, every six months , the amount of such "penalty" as of the end of each six- <br /> month period beginning on the date of issue of the Bonds (each such date on which a penalty calculation <br /> is performed is referred to herein as a "Penalty Calculation Date" ) . (The term " Calculation Date " as used <br /> herein shall refer to a Rebate Calculation Date or a Penalty Calculation Date, as appropriate .) In addition, <br /> if required or requested by the Obligor, BLX will include in each report delivered to the Obligor an <br /> analysis of compliance with applicable arbitrage yield restrictions . <br /> With respect to each Calculation Date , BLX will prepare or cause to be prepared schedules reflecting the <br /> relevant calculations and the assumptions involved and will deliver a rebate or penalty liability report <br /> addressed to the Obligor as to the amount of the rebate or penalty liability as of such Calculation Date . <br /> At the Obligor ' s election, which election is made by the Obligor ' s signature of this engagement letter, <br /> each such rebate or penalty liability report will include a legal opinion provided by the law firm, Orrick, <br /> Herrington & Sutcliffe LLP (" Orrick") . BLX will engage Orrick to provide legal oversight and review as <br /> it deems necessary to render its opinion that the computations shown in the report were performed in <br /> accordance with applicable federal law and regulations . Because BLX is an Orrick subsidiary, you may <br /> choose to consult counsel other than Orrick about the terms of this engagement. <br /> The Obligor undertakes to provide or cause to be provided to BLX all such relevant data (the "Data" ) , as <br /> specified by BLX from time to time , and shall cooperate with all reasonable requests of BLX <br />in <br /> connection therewith. Bond Logistix LLC (" BLX") is authorized hereby to obtain Data held by a Trust <br /> Bank (the " Trustee ") concerning funds and accounts established with regard to the bond issue(s) of the <br /> Obligor listed on Exhibit A hereto . If available, BLX is authorized to obtain access to view and download <br /> said Data from any "online" or "internet based" system or application maintained by the Trustee for such <br /> purposes . If such systems or applications are not maintained by the Trustee BLX is authorized to request <br /> the Data from the Trustee in a format useful to BLX, and otherwise available to the Trustee . The Obligor <br /> D A L L A S L O S AN G E L E S NEW YORK S AN F R AN C IS C O <br />
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