Kodiak Island Borough AK_#15 Series 2016AB_10th Year 2026CONTROL #15.00
KODIAK ISLAND BOROUGH, ALASKA
$7,010,000.00
$1.87M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES A AND
$5.14M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES B
ARBITRAGE REBATE CALCULATIONS
FOR THE 10TH YEAR COMPUTATION PERIOD
FEBRUARY 02, 2016 TO FEBRUARY 02, 2026
AS OF THE DATE OF THIS REPORT
FEBRUARY 26, 2026
ARBITRAGE
COMPLIANCE
SPECIALISTS!�
BOND COMPLIANCE SERVICES
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 I Centennial, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
Kodiak Island Borough, Alaska ("Issuer")
710 Mill Bay Road
Kodiak, Alaska 99615-6340
CONTROL #15.00
KODIAK ISLAND BOROUGH, ALASKA
$7,010,000.00
$1.87M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES A AND
$5.14M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES B
ARBITRAGE REBATE CALCULATIONS
FOR THE 10TH YEAR COMPUTATION PERIOD
FEBRUARY 02, 2016 TO FEBRUARY 02, 2026
AS OF THE DATE OF THIS REPORT
FEBRUARY 26, 2026
We have enclosed the arbitrage rebate calculation report for the above-referenced issue of tax-exempt
debt ("Debt"). The computations following as Exhibits have been performed by ACS and are based upon the
limited scope of ACS' engagement with information, instructions, assumptions and representations as
provided to ACS by the Issuer. Using procedures, which ACS has developed for calculating arbitrage rebate,
ACS has computed the amount of the Rebatable Arbitrage with respect to the Debt for the Computation
Period in accordance with the applicable provisions of the Internal Revenue Code of 1986, as amended and
the Treasury Regulations applicable to the Debt.
As detailed in Exhibit 1 of this report, there is no Rebatable Arbitrage with respect to the Debt for the
above-referenced Computation Period. There are no filing requirements regarding arbitrage rebate with the
United States Treasury, Internal Revenue Service ("IRS") as of the date of this Report, and therefore, nothing
should be filed with the IRS as of this time.
Total Rebatable Arbitrage: $0.00
It has been an honor for all of us at ACS to assist you with your arbitrage rebate calculations. Should
you have any questions regarding this Review and related matters please do not hesitate to call: Account
Manager: Robert Goubert at (800) 672-9993 ext. 7536 or Lead CPA: Doug Pahnke at (800) 672-9993 ext.
7526.
Regards,
Arbitrage Compliance Specialists, Inc.
Douglas Pahnke, CPA, President
DEFINITIONS
Arbitrage
Treas. Reg. § 1.148-3(a) provides that the arbitrage that must be rebated is based on the difference between the amount actually earned on non-purpose investments and the amount that would have been earned if those investments had a yield equal to the yield on the issue.
Arbitrage Rebate
Treas. Reg. § 1.148-3(b) provides that as of any computation date, the rebate amount for an issue is the excess of the future value, as of that date, for all receipts of non-purpose investments over the future value, as of that date, of
all payments on non-purpose investments.
Bona Fide Debt Service Fund
Under Treas. Reg. § 1.148-1(b), a Bona Fide Debt Service Fund:
Is used primarily to achieve a proper matching of revenues with debt service payments; AND
Is depleted annually to a reasonable carryover amount.
Bond Year
Each one-year period (or shorter period for the first elected year ending on the issuer elected date).
Bond Yield - Fixed Rate Issue
Treas. Reg. § 1.148-4(b)(1) provides that the yield on a fixed rate issue is the discount rate that when used in computing the present value, as of the issue date, of all unconditionally payable payments of principal, interest and fees for qualified guarantee on the issue, produces an amount equal to the present value, using the same discount rate, of the aggregate issue price of the bonds as of the issue date.
Variable Rate Issue The yield on a variable yield issue is computed separately for each computation period. Treas. Reg. § 1.148-4(c)(1) provides that the yield for each computation period is the discount rate at which the present
value, as of first day of the computation period, of all payments of principal and interest and qualified guarantees paid on the bond issue during that computation period equals the present value of the issue price, as of the first day of the computation period.
Commingled Funds Treas. Reg. § 1.148-1(b) provides that a commingled fund means any fund or account (other than an open-end regulated investment company) that contains both gross proceeds of an issue and amounts in excess of $25,000 that are not gross proceeds of the issue.
Computation Date
Treas. Reg. § 1.148-3(e)(1) provides that an issuer may treat as computation dates:
the last day of any Bond Year ending on or before the 1st required Rebate Payment date; AND
thereafter, the end of each Bond Year or the end of each 5th Bond Year.
Once selected, the issuer may not change the computation date after the 1st required Rebate Payment date.
Computation Date Credit
Computation Date Credits are applied on the last day of each bond year during which there are amounts allocated
to gross proceeds of an issue that are subject to the rebate requirement, and on the final maturity date.
Computation Period
The computation period may be selected by the issuer and is the period between the Computation Dates.
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 I Centennial, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
Gross Proceeds
All sales proceeds (any amounts actually or constructively received by the issuer from the sale of the debt,
including amounts used to pay underwriter’s discount or fees, but excluding pre-issuance accrued interest); investment proceeds (any amounts received from investing sales proceeds or other investment proceeds);
Transferred Proceeds as further defined; replacement proceeds (any amounts held in a sinking fund, pledged fund, reserve fund, or otherwise set aside to pay debt service; and disposition proceeds (any funds that must be included due to a change in use).
Investment Yield Treas. Reg. § 1.148-5(b)(1) provides that the yield on an investment allocated to an issue is the discount rate that,
when used in computing the present value as of the date the investment is 1st allocated to the issue of all
unconditionally payable receipts from the investment, produces an amount equal to the present value of all
unconditionally payable payments for the investment.
Materially Higher Yield
Treas. Reg. § 1.148-2(d)(1) provides that the yield on investments is materially higher than the yield on the issue to which the investments are allocated if the yield on the investments over the term of the issue exceeds the yield on the issue by an amount in excess of the applicable definition of materially higher set forth in Treas. Reg. § 1.148-2
(d)(2). If yield restricted investments in the same class are subject to different definitions of materially higher, the applicable definition of materially higher that produces the lowest permitted yield applies to all the investments in the class.
Proceeds All sales proceeds (any amounts actually or constructively received by the issuer from the sale of the debt, including
amounts used to pay underwriter’s discount or fees, but excluding pre-issuance accrued interest); investment
proceeds (any amounts received from investing sales proceeds or other investment proceeds) and Transferred
Proceeds as further defined.
Rebate Installment Payments
IRC §148(f)(3) requires that rebate be paid at least once every 5 years during the life of the debt. Each rebate
payment must be paid no later than 60 days after the Computation Date to which the payment relates. The last rebate payment is due no later than 60 days after the last debt is redeemed. Any rebate payment paid within the 60-day period may be treated as paid on the computation date to which it relates. Except for the Final Rebate Payment, the amount of each required Rebate Installment Payment is at least 90 percent of the calculated rebate amount as of that Computation Date, taking into account the future value of previous rebate payments.
Small Issuer Exception Under IRC § 148(f)(4)(D), governmental bonds issued by a governmental unit that does not expect to issue more than $5 million of governmental bonds in that calendar year are exempted from the rebate requirements, but not yield restriction rules.
The Taxpayer Relief Act of 1997 supplements the $5 million Small Issuer Exception, which can be used for any purpose, with up to an additional $5 million to specifically finance new construction of public school facilities. This increased limit applies to debt issued from January 1, 1998 through December 31, 2001.
The Economic Growth and Tax Relief Reconciliation Act of 2001 supplements the $5 million Small Issuer
Exception, which can be used for any purpose, with up to an additional $10 million to specifically finance new construction of public school facilities. This increased limit applies to debt issued on and after January 1, 2002.
Spending Exception Spending exceptions may apply to exempt from the rebate requirements, arbitrage earned on certain proceeds of an issue, if the issuer spends the proceeds in accordance with prescribed 6-month, 18-month, or 2-year schedules.
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 I Centennial, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
Rebate Payments
IRC § 148(f)(3) requires that rebate be paid at least once every 5 years during the life of the bonds. Each rebate payment must be paid no later than 60 days after the computation date to which the payment relates. The last rebate payment is due no later than 60 days after the last bond is redeemed. Any rebate payment paid within the 60-day period may be treated as paid on the computation date to which it relates. Except for the Final Rebate Payment, the amount of each required Rebate Installment Payment is at least 90 percent of the rebate amount as of that computation date, taking into account the future value of previous rebate payments.
Temporary Periods
The initial period during which the use of bond proceeds to acquire higher yielding investments will not cause the bonds to be arbitrage bonds.
Transferred Proceeds
Treas. Reg. § 1.148-9 provides that when proceeds of a new refunding issue discharge the outstanding principal of a prior issue, the proceeds of the prior issue transfer to the refunding issue and become transferred proceeds of the refunding issue.
Yield Restriction
After the applicable temporary period is over, bond proceeds must be yield restricted. Yield restriction can be achieved in two ways:
Investment of proceeds in securities that do not exceed the permitted yield; OR
Investment of proceeds above the permitted yield followed by making Yield Reduction Payments. (Note thatunder Treas. Reg. § 1.148-5(c)(3), Yield Reduction Payments may be made only for certain types ofproceeds.)
Yield Reduction Payments
Treas. Reg. § 1.148-5(c)(2)(i) provides that yield reduction payments must be paid to the United States at the same time and in the same manner as rebate payments. The provisions that apply to Rebate Payments, such as due dates, making 90 percent installment payments, correction of late payments, and recovery of overpayments, all apply to yield reduction payments as well.
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 I Centennial, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
Arbitrage Compliance Specialists, Inc.
6065 S. Quebec Street, Suite 201 I Centennial, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
NOTES AND ASSUMPTIONS
1. The PAR amount of the Debt is $7,010,000.00.
2. The Delivery Date of the Debt is February 02, 2016.
3. The Computation Date is February 02, 2026.
4. The Computation Period is February 02, 2016 to February 02, 2026.
5. The Bond Yield on the Debt is 2.4794%.
6. The Investment Yield is 1.04669834%
7. The Arbitrage Rebate Liability, as of the end of the calculation period, is ($232,688.79).
8. We have reviewed available Debt documents to determine the sources and uses of the Debt for purposes
of identifying Gross Proceeds.
9. The Debt constitutes a single issue for federal taxation purposes and is not treated as part of any other
issue of governmental obligations.
10. Computations of yield are based on a 360-day year with semi-annual compounding.
11. Purchase prices on investments are assumed to be at fair market value and represent an arm's length
transaction.
12. We have applied the Computation Date Credit amounts set forth in the Regulations for bond years ending
on or after January 1, 2007.
13. Our engagement focused solely on analyzing the arbitrage rebate and yield restriction requirements,
requirements related to the gross proceeds of the Bonds. The information provided by the Issuer, the
Bank, or the Trustee has been used without independent verification to calculate the Rebate Liability and
Yield Restriction Liability. ACS does not verify or express an opinion on the completeness or accuracy of
this information in relation to 26 U.S. Code § 148.
14. We are not obligated to update this Report due to any events, changes in laws, regulations, rulings, new
information, or data changes after the date of this Report.
Period 02/02/16 to 02/02/26
Bond Yield 2.47940000%
Investment Yield 1.04669834%
Liability ($232,688.79)
10th Year Arbitrage Rebate Calculation
KODIAK ISLAND BOROUGH, ALASKA
$1.87M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES A AND $5.14M GENERAL OBLIGATION SCHOOL BOND, 2016 SERIES B
Page 1 of 5
EXHIBIT 1
Control # 15.00
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
02/02/16 (8,000,000.00)1.27943136% (10,235,450.87) 3600
03/01/16 229,328.36 1.27689419% 292,828.05 3571
03/04/16 2,607.50 1.27663201% 3,328.82 3568
03/08/16 56,764.79 1.27628252% 72,447.91 3564
03/15/16 13,766.90 1.27567115% 17,562.04 3557
03/18/16 691.52 1.27540922% 881.97 3554
03/29/16 152,819.00 1.27444928% 194,760.06 3543
03/31/16 17,550.23 1.27436205% 22,365.35 3542
04/01/16 343.31 1.27427482% 437.47 3541
04/05/16 13,009.93 1.27392598% 16,573.69 3537
04/15/16 1,592.26 1.27305429% 2,027.03 3527
04/19/16 2,231.88 1.27270578% 2,840.53 3523
04/24/16 73.40 1.27227028% 93.38 3518
04/29/16 1,223.76 1.27183493% 1,556.42 3513
05/10/16 394,969.00 1.27087768% 501,957.28 3502
05/13/16 1,297.15 1.27061673% 1,648.18 3499
05/17/16 2,724.88 1.27026889% 3,461.33 3495
05/27/16 827.24 1.26939970% 1,050.10 3485
06/07/16 0.35 1.26853111% 0.44 3475
06/08/16 241.81 1.26844429% 306.72 3474
06/10/16 1,346.82 1.26827065% 1,708.13 3472
06/14/16 10,587.93 1.26792345% 13,424.68 3468
06/24/16 1,515.74 1.26705587% 1,920.53 3458
06/30/16 18,243.84 1.26653561% 23,106.47 3452
07/02/16 1,244.93 1.26636223% 1,576.53 3450
07/05/16 8,979.64 1.26610222% 11,369.14 3447
07/12/16 0.07 1.26549572% 0.09 3440
07/19/16 2,570.81 1.26488951% 3,251.79 3433
07/22/16 433.65 1.26462980% 548.41 3430
07/27/16 467.81 1.26419706% 591.40 3425
08/02/16 76,398.21 1.26376447% 96,549.34 3420
08/05/16 2,939.14 1.26350499% 3,713.62 3417
08/09/16 353,481.00 1.26315909% 446,502.74 3413
08/19/16 (601.86)1.26229477% (759.72) 3403
08/23/16 2,803.90 1.26194921% 3,538.38 3399
09/02/16 1,972.25 1.26117204% 2,487.35 3390
09/06/16 1,095.00 1.26082678% 1,380.61 3386
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/26
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
09/12/16 (1,070.00)1.26030908% (1,348.53) 3380
09/16/16 1,278.57 1.25996406% 1,610.95 3376
09/27/16 2,414.70 1.25901574% 3,040.15 3365
09/30/16 799.47 1.25875723% 1,006.34 3362
10/14/16 952.26 1.25755156% 1,197.52 3348
10/18/16 74,274.40 1.25720730% 93,378.32 3344
10/25/16 8,177.73 1.25660506% 10,276.18 3337
10/28/16 2,947.58 1.25634705% 3,703.18 3334
10/31/16 6,294.68 1.25617507% 7,907.22 3332
11/08/16 126,676.44 1.25548739% 159,040.67 3324
11/10/16 3,506.30 1.25531553% 4,401.51 3322
11/15/16 30,372.50 1.25488598% 38,114.02 3317
11/22/16 28,750.00 1.25428485% 36,060.69 3310
11/23/16 2,447.06 1.25419900% 3,069.10 3309
11/29/16 8,897.50 1.25368402% 11,154.65 3303
12/06/16 157,538.94 1.25308347% 197,409.44 3296
12/09/16 4,249.12 1.25282618% 5,323.41 3293
12/16/16 1,962.40 1.25222604% 2,457.37 3286
12/20/16 988.64 1.25188324% 1,237.66 3282
12/23/16 3,629.70 1.25162619% 4,543.03 3279
12/27/16 285,735.27 1.25128355% 357,535.84 3275
12/31/16 24,671.81 1.25102663% 30,865.09 3272
01/06/17 1,011.06 1.25051295% 1,264.34 3266
01/10/17 323.97 1.25017061% 405.02 3262
01/17/17 592.00 1.24957174% 739.75 3255
01/20/17 2,564.51 1.24931518% 3,203.88 3252
01/24/17 947.50 1.24897317% 1,183.40 3248
01/31/17 160.00 1.24846033% 199.75 3242
02/02/17 (1,670.00)1.24828943% Computation Date Credit (2,084.64) 3240
02/03/17 5,329.91 1.24820399% 6,652.81 3239
02/15/17 2,375.44 1.24717915% 2,962.60 3227
02/17/17 2,776.48 1.24700843% 3,462.29 3225
03/01/17 390.00 1.24581401% 485.87 3211
03/03/17 5,232.57 1.24564347% 6,517.92 3209
03/07/17 4,403.12 1.24530247% 5,483.22 3205
03/14/17 2,948.63 1.24470594% 3,670.18 3198
03/17/17 2,703.87 1.24445037% 3,364.83 3195
03/21/17 3,150.15 1.24410969% 3,919.13 3191
03/28/17 8,281.65 1.24351373% 10,298.35 3184
03/30/17 240.00 1.24334350% 298.40 3182
03/31/17 15,562.18 1.24334350% 19,349.14 3182
04/04/17 5,705.10 1.24300313% 7,091.46 3178
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/26
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
04/14/17 3,512.66 1.24215260% 4,363.26 3168
04/25/17 52,587.54 1.24121769% 65,272.58 3157
04/28/17 3,961.91 1.24096283% 4,916.58 3154
05/02/17 141,121.64 1.24062311% 175,078.77 3150
05/04/17 (42.84)1.24045328% (53.14) 3148
05/05/17 30.00 1.24036838% 37.21 3147
05/09/17 33,383.57 1.24002882% 41,396.59 3143
05/12/17 4,286.56 1.23977421% 5,314.37 3140
05/15/17 (7,122.34)1.23951965% (8,828.28) 3137
05/26/17 4,992.55 1.23858672% 6,183.71 3126
05/30/17 8,830.81 1.23824765% 10,934.73 3122
06/06/17 1,991.00 1.23773922% 2,464.34 3116
06/09/17 4,476.81 1.23748508% 5,539.99 3113
06/13/17 142,283.65 1.23714631% 176,025.69 3109
06/20/17 327,464.53 1.23655368% 404,927.47 3102
06/23/17 3,731.92 1.23629978% 4,613.77 3099
06/27/17 54.00 1.23596134% 66.74 3095
06/30/17 29,522.95 1.23570756% 36,481.73 3092
07/01/17 5,330.05 1.23562298% 6,585.93 3091
07/05/17 135,332.18 1.23528472% 167,173.77 3087
07/11/17 281,395.00 1.23477750% 347,460.22 3081
07/18/17 703.12 1.23418601% 867.78 3074
07/21/17 (2,386.35)1.23393260% (2,944.60) 3071
07/25/17 336,141.15 1.23359480% 414,661.98 3067
07/27/17 (42,877.66)1.23342594% (52,886.42) 3065
08/04/17 6,216.60 1.23283509% 7,664.04 3058
08/08/17 100,108.00 1.23249760% 123,382.87 3054
08/15/17 70,950.00 1.23190720% 87,403.82 3047
08/18/17 3,627.00 1.23165425% 4,467.21 3044
08/22/17 664,236.28 1.23131708% 817,885.48 3040
08/29/17 21,619.14 1.23072725% 26,607.26 3033
09/01/17 5,643.47 1.23055877% 6,944.62 3031
09/05/17 150,691.28 1.23022190% 185,383.71 3027
09/15/17 2,723.45 1.22938011% 3,348.16 3017
09/19/17 273,746.44 1.22904356% 336,446.30 3013
09/26/17 56,429.63 1.22845482% 69,321.25 3006
09/29/17 3,441.83 1.22820258% 4,227.26 3003
09/30/17 9,991.30 1.22811852% 12,270.50 3002
10/03/17 742.60 1.22786635% 911.81 2999
10/10/17 235.50 1.22727817% 289.02 2992
10/13/17 2,854.55 1.22702618% 3,502.61 2989
10/17/17 40,903.06 1.22669027% 50,175.39 2985
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/26
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
10/24/17 22,442.10 1.22610266% 27,516.32 2978
10/27/17 2,447.08 1.22585091% 2,999.76 2975
10/31/17 238.88 1.22559921% 292.77 2972
11/07/17 2,208.00 1.22501211% 2,704.83 2965
11/09/17 1,873.57 1.22484442% 2,294.83 2963
11/14/17 30,790.00 1.22442530% 37,700.05 2958
11/21/17 2,504.25 1.22383877% 3,064.80 2951
11/22/17 1,567.47 1.22375500% 1,918.20 2950
11/28/17 8,646.09 1.22325251% 10,576.35 2944
12/05/17 566.70 1.22266654% 692.89 2937
12/08/17 2,539.40 1.22241550% 3,104.20 2934
12/12/17 5,365.45 1.22208085% 6,557.01 2930
12/19/17 15,780.17 1.22149544% 19,275.41 2923
12/22/17 1,235.09 1.22124464% 1,508.35 2920
12/26/17 1,354.53 1.22091031% 1,653.76 2916
12/31/17 15,534.46 1.22057608% 18,960.99 2912
01/05/18 883.17 1.22015842% 1,077.61 2907
01/09/18 2,882.10 1.21982439% 3,515.66 2903
01/16/18 986.17 1.21924006% 1,202.38 2896
01/19/18 1,535.82 1.21898972% 1,872.15 2893
01/23/18 4,559.61 1.21865601% 5,556.60 2889
01/30/18 1,940.00 1.21807224% 2,363.06 2882
02/02/18 (1,700.00)1.21790550% Computation Date Credit (2,070.44) 2880
02/02/18 3,331.51 1.21790550% 4,057.46 2880
02/09/18 90.00 1.21732209% 109.56 2873
02/13/18 67,425.23 1.21698884% 82,055.75 2869
02/16/18 1,679.16 1.21673896% 2,043.10 2866
02/20/18 2,765.00 1.21640587% 3,363.36 2862
02/28/18 1,681.48 1.21573996% 2,044.24 2854
03/02/18 1,745.06 1.21540714% 2,120.96 2850
03/12/18 (1,661.74)1.21457550% (2,018.31) 2840
03/16/18 1,678.68 1.21424300% 2,038.33 2836
03/20/18 5,705.24 1.21391059% 6,925.65 2832
03/24/18 39.20 1.21357827% 47.57 2828
03/27/18 6,780.46 1.21332909% 8,226.93 2825
03/30/18 2,166.58 1.21307997% 2,628.23 2822
03/31/18 15,976.70 1.21307997% 19,381.01 2822
04/03/18 559.00 1.21283089% 677.97 2819
04/10/18 2,637.00 1.21224991% 3,196.70 2812
04/13/18 2,846.80 1.21200101% 3,450.32 2809
04/17/18 59.00 1.21166921% 71.49 2805
04/24/18 8,219.02 1.21108879% 9,953.96 2798
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 5 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/26
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
04/27/18 4,160.68 1.21084012% 5,037.92 2795
05/01/18 16,603.83 1.21050864% 20,099.08 2791
05/11/18 8,170.22 1.20968035% 9,883.35 2781
05/15/18 9,217.96 1.20934919% 11,147.73 2777
05/22/18 3,754.20 1.20876988% 4,537.96 2770
05/25/18 1,685.47 1.20852169% 2,036.93 2767
06/08/18 3,116.33 1.20744678% 3,762.80 2754
06/19/18 43,101.47 1.20653799% 52,003.56 2743
06/22/18 2,250.35 1.20629026% 2,714.58 2740
06/26/18 221,162.91 1.20596003% 266,713.63 2736
06/30/18 13,986.81 1.20562989% 16,862.92 2732
07/06/18 4,250.27 1.20513485% 5,122.15 2726
07/10/18 507,064.00 1.20480493% 610,913.21 2722
07/17/18 12,702.25 1.20422780% 15,296.40 2715
07/20/18 2,424.23 1.20398054% 2,918.73 2712
07/24/18 437,753.76 1.20365094% 526,902.72 2708
07/31/18 881.60 1.20315671% 1,060.70 2702
08/03/18 3,968.14 1.20290967% 4,773.31 2699
08/08/18 250.00 1.20249805% 300.62 2694
08/14/18 283,232.00 1.20200430% 340,446.08 2688
08/17/18 3,166.59 1.20175749% 3,805.47 2685
08/21/18 845,688.85 1.20142850% 1,016,034.69 2681
08/28/18 5,465.58 1.20085299% 6,563.36 2674
09/28/18 173.41 1.19838961% 207.81 2644
09/30/18 1,747.66 1.19822556% 2,094.09 2642
10/02/18 14,172.94 1.19806154% 16,980.05 2640
10/12/18 755.91 1.19724176% 905.01 2630
10/16/18 77,394.96 1.19691401% 92,635.11 2626
10/19/18 254,850.99 1.19666825% 304,972.09 2623
02/02/19 (1,730.00)1.18826114% Computation Date Credit (2,055.69) 2520
Liability (232,688.79)128,256.76
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 15.00
PAR $7,010,000.00 EXHIBIT 2
Period 02/02/16 to 02/02/26
Listing of Investments by Fund
Costs of Issuance
Spent at Closing
Debt Service Fund
It has been determined that the Fund has been used primarily to achieve a proper matching of revenues with principal and
interest payments within each bond year; as described under Section 1.148-1(b) of the Regulations.Bona Fide Per Issuer
Project Fund
General Ledger - Fund 460 Expenditures of the Fund have been allocated based on a First In, First Out methodology.
Wells Fargo (to 10/19/18)
General Ledger - Fund 470
Wells Fargo (to 8/28/18)
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Investment Yield 1.04669834%
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
02/02/16 (8,000,000.00) 1.11004093%(8,880,327.47)1.11004093%
02/29/16 (12,500.52) 1.10917214%(13,865.23)12,500.52 1.10917214%13,865.23
03/01/16 1.10910781%229,328.36 1.10910781%254,349.88
03/04/16 1.10901132%2,607.50 1.10901132%2,891.75
03/08/16 1.10888269%56,764.79 1.10888269%62,945.49
03/15/16 1.10865762%13,766.90 1.10865762%15,262.78
03/18/16 1.10856117%691.52 1.10856117%766.59
03/29/16 1.10820761%152,819.00 1.10820761%169,355.18
03/31/16 (12,680.62) 1.10817547%(14,052.35)30,230.85 1.10817547%33,501.09
04/01/16 1.10814333%343.31 1.10814333%380.44
04/05/16 1.10801480%13,009.93 1.10801480%14,415.19
04/15/16 1.10769353%1,592.26 1.10769353%1,763.74
04/19/16 1.10756505%2,231.88 1.10756505%2,471.95
04/24/16 1.10740447%73.40 1.10740447%81.28
04/29/16 1.10724391%1,223.76 1.10724391%1,355.00
04/30/16 (9,800.43) 1.10721180%(10,851.15)9,800.43 1.10721180%10,851.15
05/10/16 1.10689077%394,969.00 1.10689077%437,187.54
05/13/16 1.10679448%1,297.15 1.10679448%1,435.68
05/17/16 1.10666610%2,724.88 1.10666610%3,015.53
05/27/16 1.10634522%827.24 1.10634522%915.21
05/31/16 (10,173.08) 1.10624898%(11,253.96)10,173.08 1.10624898%11,253.96
06/07/16 1.10602444%0.35 1.10602444%0.39
06/08/16 1.10599237%241.81 1.10599237%267.44
06/10/16 1.10592822%1,346.82 1.10592822%1,489.49
06/14/16 1.10579995%10,587.93 1.10579995%11,708.13
06/24/16 1.10547932%1,515.74 1.10547932%1,675.62
06/30/16 (9,785.26) 1.10528699%(10,815.52)28,029.10 1.10528699%30,980.20
07/02/16 1.10522289%1,244.93 1.10522289%1,375.93
07/05/16 1.10512674%8,979.64 1.10512674%9,923.64
07/12/16 1.10490243%0.07 1.10490243%0.08
07/19/16 1.10467816%2,570.81 1.10467816%2,839.92
07/22/16 1.10458206%433.65 1.10458206%479.00
07/27/16 1.10442191%467.81 1.10442191%516.66
07/31/16 (8,592.16) 1.10432584%(9,488.54)8,592.16 1.10432584%9,488.54
08/02/16 1.10426179%76,398.21 1.10426179%84,363.62
08/05/16 1.10416572%2,939.14 1.10416572%3,245.30
08/09/16 1.10403765%353,481.00 1.10403765%390,256.33
08/19/16 (601.86) 1.10371754%(664.28)1.10371754%
08/23/16 1.10358952%2,803.90 1.10358952%3,094.35
08/31/16 (6,660.16) 1.10336552%(7,348.59)6,660.16 1.10336552%7,348.59
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
09/02/16 1.10330153%1,972.25 1.10330153%2,175.99
09/06/16 1.10317356%1,095.00 1.10317356%1,207.98
09/12/16 (1,070.00) 1.10298163%(1,180.19)1.10298163%
09/16/16 1.10285369%1,278.57 1.10285369%1,410.08
09/27/16 1.10250195%2,414.70 1.10250195%2,662.21
09/30/16 (5,871.04) 1.10240604%(6,472.27)6,670.51 1.10240604%7,353.61
10/14/16 1.10195856%952.26 1.10195856%1,049.35
10/18/16 1.10183075%74,274.40 1.10183075%81,837.82
10/25/16 1.10160711%8,177.73 1.10160711%9,008.65
10/28/16 1.10151127%2,947.58 1.10151127%3,246.79
10/31/16 (5,398.95) 1.10144739%(5,946.66)11,693.63 1.10144739%12,879.92
11/08/16 1.10119189%126,676.44 1.10119189%139,495.07
11/10/16 1.10112802%3,506.30 1.10112802%3,860.89
11/15/16 1.10096838%30,372.50 1.10096838%33,439.16
11/22/16 1.10074491%28,750.00 1.10074491%31,646.42
11/23/16 1.10071299%2,447.06 1.10071299%2,693.51
11/29/16 1.10052149%8,897.50 1.10052149%9,791.89
11/30/16 (6,526.35) 1.10048957%(7,182.18)6,526.35 1.10048957%7,182.18
12/06/16 1.10029811%157,538.94 1.10029811%173,339.80
12/09/16 1.10020239%4,249.12 1.10020239%4,674.89
12/16/16 1.09997908%1,962.40 1.09997908%2,158.60
12/20/16 1.09985149%988.64 1.09985149%1,087.36
12/23/16 1.09975581%3,629.70 1.09975581%3,991.78
12/27/16 1.09962825%285,735.27 1.09962825%314,202.58
12/31/16 (15,257.40) 1.09953259%(16,776.01)39,929.21 1.09953259%43,903.47
01/06/17 1.09934130%1,011.06 1.09934130%1,111.50
01/10/17 1.09921378%323.97 1.09921378%356.11
01/17/17 1.09899067%592.00 1.09899067%650.60
01/20/17 1.09889507%2,564.51 1.09889507%2,818.13
01/24/17 1.09876761%947.50 1.09876761%1,041.08
01/31/17 (6,138.22) 1.09857644%(6,743.30)6,298.22 1.09857644%6,919.08
02/03/17 1.09848088%5,329.91 1.09848088%5,854.80
02/15/17 1.09809868%2,375.44 1.09809868%2,608.47
02/17/17 1.09803500%2,776.48 1.09803500%3,048.67
02/28/17 (8,256.71) 1.09768479%(9,063.26)8,256.71 1.09768479%9,063.26
03/01/17 1.09758930%390.00 1.09758930%428.06
03/03/17 1.09752564%5,232.57 1.09752564%5,742.88
03/07/17 1.09739834%4,403.12 1.09739834%4,831.98
03/14/17 1.09717560%2,948.63 1.09717560%3,235.16
03/17/17 1.09708015%2,703.87 1.09708015%2,966.36
03/21/17 1.09695290%3,150.15 1.09695290%3,455.57
03/28/17 1.09673025%8,281.65 1.09673025%9,082.74
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/30/17 1.09666664%240.00 1.09666664%263.20
03/31/17 (2,633.91) 1.09666664%(2,888.52)18,196.09 1.09666664%19,955.04
04/04/17 1.09653944%5,705.10 1.09653944%6,255.87
04/14/17 1.09622150%3,512.66 1.09622150%3,850.65
04/25/17 1.09587187%52,587.54 1.09587187%57,629.21
04/27/17 (44,900.00) 1.09580831%(49,201.79)44,900.00 1.09580831%49,201.79
04/28/17 1.09577654%3,961.91 1.09577654%4,341.37
04/30/17 (6,697.83) 1.09571298%(7,338.90)6,697.83 1.09571298%7,338.90
05/02/17 1.09564944%141,121.64 1.09564944%154,619.85
05/04/17 (42.84) 1.09558589%(46.93)1.09558589%
05/05/17 1.09555412%30.00 1.09555412%32.87
05/09/17 1.09542705%33,383.57 1.09542705%36,569.27
05/12/17 1.09533175%4,286.56 1.09533175%4,695.21
05/15/17 (7,122.34) 1.09523647%(7,800.65)1.09523647%
05/24/17 (2,840.35) 1.09495066%(3,110.04)2,840.35 1.09495066%3,110.04
05/26/17 1.09488715%4,992.55 1.09488715%5,466.28
05/30/17 1.09476016%8,830.81 1.09476016%9,667.62
05/31/17 (4,768.95) 1.09476016%(5,220.86)4,768.95 1.09476016%5,220.86
06/06/17 1.09456969%1,991.00 1.09456969%2,179.29
06/09/17 1.09447447%4,476.81 1.09447447%4,899.75
06/13/17 1.09434752%142,283.65 1.09434752%155,707.76
06/20/17 1.09412540%327,464.53 1.09412540%358,287.26
06/23/17 1.09403022%3,731.92 1.09403022%4,082.83
06/27/17 1.09390332%54.00 1.09390332%59.07
06/30/17 (6,228.50) 1.09380816%(6,812.78)35,751.45 1.09380816%39,105.23
07/01/17 1.09377644%5,330.05 1.09377644%5,829.88
07/05/17 1.09364957%135,332.18 1.09364957%148,005.98
07/11/17 1.09345930%281,395.00 1.09345930%307,693.98
07/18/17 1.09323736%703.12 1.09323736%768.68
07/21/17 (2,386.35) 1.09314225%(2,608.62)1.09314225%
07/25/17 1.09301546%336,141.15 1.09301546%367,407.47
07/27/17 (42,877.66) 1.09295207%(46,863.23)1.09295207%
07/31/17 (5,642.99) 1.09285699%(6,166.98)5,642.99 1.09285699%6,166.98
08/04/17 1.09273023%6,216.60 1.09273023%6,793.07
08/08/17 1.09260348%100,108.00 1.09260348%109,378.35
08/15/17 1.09238171%70,950.00 1.09238171%77,504.48
08/18/17 1.09228668%3,627.00 1.09228668%3,961.72
08/22/17 1.09215999%664,236.28 1.09215999%725,452.29
08/29/17 1.09193831%21,619.14 1.09193831%23,606.77
08/31/17 (7,968.23) 1.09190664%(8,700.56)7,968.23 1.09190664%8,700.56
09/01/17 1.09187498%5,643.47 1.09187498%6,161.96
09/05/17 1.09174833%150,691.28 1.09174833%164,516.95
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
09/12/17 (35,691.28) 1.09152674%(38,957.99)35,691.28 1.09152674%38,957.99
09/15/17 1.09143178%2,723.45 1.09143178%2,972.46
09/19/17 (35,691.28) 1.09130519%(38,950.08)309,437.72 1.09130519%337,690.99
09/26/17 1.09108368%56,429.63 1.09108368%61,569.45
09/29/17 1.09098876%3,441.83 1.09098876%3,755.00
09/30/17 (3,314.38) 1.09095713%(3,615.85)13,305.68 1.09095713%14,515.93
10/03/17 1.09086222%742.60 1.09086222%810.07
10/10/17 1.09064080%235.50 1.09064080%256.85
10/13/17 1.09054592%2,854.55 1.09054592%3,113.02
10/17/17 1.09041943%40,903.06 1.09041943%44,601.49
10/24/17 1.09019811%22,442.10 1.09019811%24,466.33
10/27/17 1.09010327%2,447.08 1.09010327%2,667.57
10/31/17 (416.06) 1.09000843%(453.51)654.94 1.09000843%713.89
11/07/17 1.08978719%2,208.00 1.08978719%2,406.25
11/09/17 1.08972399%1,873.57 1.08972399%2,041.67
11/14/17 1.08956599%30,790.00 1.08956599%33,547.74
11/21/17 1.08934484%2,504.25 1.08934484%2,727.99
11/22/17 1.08931325%1,567.47 1.08931325%1,707.47
11/28/17 1.08912373%8,646.09 1.08912373%9,416.66
11/30/17 (3,020.06) 1.08906057%(3,289.03)3,020.06 1.08906057%3,289.03
12/05/17 1.08890267%566.70 1.08890267%617.08
12/08/17 1.08880794%2,539.40 1.08880794%2,764.92
12/12/17 1.08868165%5,365.45 1.08868165%5,841.27
12/19/17 1.08846068%15,780.17 1.08846068%17,176.09
12/22/17 1.08836599%1,235.09 1.08836599%1,344.23
12/26/17 1.08823975%1,354.53 1.08823975%1,474.05
12/31/17 (167.81) 1.08811352%(182.60)15,702.27 1.08811352%17,085.85
01/05/18 1.08795576%883.17 1.08795576%960.85
01/09/18 1.08782957%2,882.10 1.08782957%3,135.23
01/16/18 1.08760877%986.17 1.08760877%1,072.57
01/19/18 1.08751416%1,535.82 1.08751416%1,670.23
01/23/18 1.08738802%4,559.61 1.08738802%4,958.07
01/30/18 1.08716731%1,940.00 1.08716731%2,109.10
01/31/18 (10,192.79) 1.08716731%(11,081.27)10,192.79 1.08716731%11,081.27
02/02/18 1.08710425%3,331.51 1.08710425%3,621.70
02/09/18 1.08688360%90.00 1.08688360%97.82
02/13/18 1.08675753%67,425.23 1.08675753%73,274.88
02/16/18 1.08666299%1,679.16 1.08666299%1,824.68
02/20/18 1.08653695%2,765.00 1.08653695%3,004.27
02/28/18 (368.75) 1.08628491%(400.57)2,050.23 1.08628491%2,227.13
03/02/18 1.08615891%1,745.06 1.08615891%1,895.41
03/12/18 (1,661.74) 1.08584398%(1,804.39)1.08584398%
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 5 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/16/18 1.08571803%1,678.68 1.08571803%1,822.57
03/20/18 1.08559210%5,705.24 1.08559210%6,193.56
03/24/18 1.08546618%39.20 1.08546618%42.55
03/27/18 1.08537176%6,780.46 1.08537176%7,359.32
03/28/18 (3.26) 1.08534028%(3.54)3.26 1.08534028%3.54
03/30/18 1.08527734%2,166.58 1.08527734%2,351.34
03/31/18 (10,775.41) 1.08527734%(11,694.31)26,752.11 1.08527734%29,033.46
04/03/18 1.08518292%559.00 1.08518292%606.62
04/10/18 1.08496266%2,637.00 1.08496266%2,861.05
04/13/18 1.08486828%2,846.80 1.08486828%3,088.40
04/17/18 1.08474244%59.00 1.08474244%64.00
04/24/18 1.08452227%8,219.02 1.08452227%8,913.71
04/27/18 1.08442792%4,160.68 1.08442792%4,511.96
04/30/18 (3,519.75) 1.08433358%(3,816.58)3,519.75 1.08433358%3,816.58
05/01/18 1.08430214%16,603.83 1.08430214%18,003.57
05/11/18 1.08398775%8,170.22 1.08398775%8,856.42
05/15/18 1.08386201%9,217.96 1.08386201%9,991.00
05/22/18 1.08364202%3,754.20 1.08364202%4,068.21
05/25/18 1.08354775%1,685.47 1.08354775%1,826.29
05/31/18 (10,833.87) 1.08339065%(11,737.31)10,833.87 1.08339065%11,737.31
06/08/18 1.08313934%3,116.33 1.08313934%3,375.42
06/19/18 1.08279389%43,101.47 1.08279389%46,670.01
06/22/18 1.08269969%2,250.35 1.08269969%2,436.45
06/26/18 1.08257411%221,162.91 1.08257411%239,425.24
06/30/18 (2,307.74) 1.08244854%(2,498.01)16,294.55 1.08244854%17,638.01
07/06/18 1.08226022%4,250.27 1.08226022%4,599.90
07/10/18 1.08213468%507,064.00 1.08213468%548,711.54
07/17/18 1.08191504%12,702.25 1.08191504%13,742.76
07/20/18 1.08182092%2,424.23 1.08182092%2,622.58
07/24/18 1.08169544%437,753.76 1.08169544%473,516.25
07/31/18 (59.46) 1.08150725%(64.31)941.06 1.08150725%1,017.76
08/03/18 1.08141316%3,968.14 1.08141316%4,291.20
08/08/18 1.08125637%250.00 1.08125637%270.31
08/14/18 1.08106826%283,232.00 1.08106826%306,193.12
08/17/18 1.08097421%3,166.59 1.08097421%3,423.00
08/21/18 1.08084883%845,688.85 1.08084883%914,061.80
08/28/18 1.08062945%5,465.58 1.08062945%5,906.27
08/31/18 (1,462.61) 1.08056677%(1,580.45)1,462.61 1.08056677%1,580.45
09/28/18 1.07968973%173.41 1.07968973%187.23
09/30/18 (667.41) 1.07962712%(720.55)2,415.07 1.07962712%2,607.38
10/02/18 1.07956450%14,172.94 1.07956450%15,300.60
10/12/18 1.07925148%755.91 1.07925148%815.82
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 6 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/26
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
10/16/18 1.07912630%77,394.96 1.07912630%83,518.94
10/19/18 1.07903242%254,850.99 1.07903242%274,992.48
(8,373,576.36)(9,289,641.17)8,506,933.12 9,289,641.17
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (to 10/19/18)
Net 27,472.55 Yield 1.59961122%
Alloc. $Alloc. %Type100% $ Date
02/02/16 Principal (2,000,000.00)100.00000%(2,000,000.00)
02/29/16 Principal (8,262.41)100.00000%(8,262.41)
02/29/16 Interest 8,262.41100.00000%8,262.41
03/01/16 Maturity 229,328.36100.00000%229,328.36
03/04/16 Maturity 2,607.50100.00000%2,607.50
03/08/16 Maturity 1,371.80100.00000%1,371.80
03/08/16 Maturity 55,392.99100.00000%55,392.99
03/15/16 Maturity 216.40100.00000%216.40
03/15/16 Maturity 13,550.50100.00000%13,550.50
03/18/16 Maturity 691.52100.00000%691.52
03/29/16 Maturity 152,819.00100.00000%152,819.00
03/31/16 Principal (8,264.91)100.00000%(8,264.91)
03/31/16 Interest 8,264.91100.00000%8,264.91
03/31/16 Maturity 6,263.73100.00000%6,263.73
03/31/16 Maturity 0.60100.00000%0.60
03/31/16 Maturity 467.76100.00000%467.76
03/31/16 Maturity 2,152.68100.00000%2,152.68
03/31/16 Maturity 1,304.33100.00000%1,304.33
03/31/16 Maturity 210.35100.00000%210.35
03/31/16 Maturity 45.60100.00000%45.60
03/31/16 Maturity 575.19100.00000%575.19
03/31/16 Maturity 417.00100.00000%417.00
03/31/16 Maturity 542.07100.00000%542.07
03/31/16 Maturity 690.45100.00000%690.45
03/31/16 Maturity 1,181.13100.00000%1,181.13
03/31/16 Maturity 3,699.34100.00000%3,699.34
04/01/16 Maturity 343.31100.00000%343.31
04/05/16 Maturity 13,009.93100.00000%13,009.93
04/15/16 Maturity 216.40100.00000%216.40
04/15/16 Maturity 1,375.86100.00000%1,375.86
04/19/16 Maturity 2,231.88100.00000%2,231.88
04/24/16 Maturity 73.40100.00000%73.40
04/29/16 Maturity 1,223.76100.00000%1,223.76
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
04/30/16 Principal (590.33)100.00000%(590.33)
04/30/16 Interest 590.33100.00000%590.33
05/10/16 Maturity 394,969.00100.00000%394,969.00
05/13/16 Maturity 1,297.15100.00000%1,297.15
05/17/16 Maturity 2,724.88100.00000%2,724.88
05/27/16 Maturity 827.24100.00000%827.24
05/31/16 Principal (356.45)100.00000%(356.45)
05/31/16 Interest 356.45100.00000%356.45
06/07/16 Maturity 0.35100.00000%0.35
06/08/16 Maturity 241.81100.00000%241.81
06/10/16 Maturity 1,346.82100.00000%1,346.82
06/14/16 Maturity 10,587.93100.00000%10,587.93
06/24/16 Maturity 1,515.74100.00000%1,515.74
06/30/16 Principal (1,933.75)100.00000%(1,933.75)
06/30/16 Interest 1,933.75100.00000%1,933.75
06/30/16 Maturity 5,653.80100.00000%5,653.80
06/30/16 Maturity 0.58100.00000%0.58
06/30/16 Maturity 46.33100.00000%46.33
06/30/16 Maturity 428.49100.00000%428.49
06/30/16 Maturity 1,508.97100.00000%1,508.97
06/30/16 Maturity 1,171.63100.00000%1,171.63
06/30/16 Maturity 166.86100.00000%166.86
06/30/16 Maturity 187.53100.00000%187.53
06/30/16 Maturity 841.78100.00000%841.78
06/30/16 Maturity 416.84100.00000%416.84
06/30/16 Maturity 397.97100.00000%397.97
06/30/16 Maturity 911.98100.00000%911.98
06/30/16 Maturity 329.68100.00000%329.68
06/30/16 Maturity 4,281.28100.00000%4,281.28
06/30/16 Maturity 509.46100.00000%509.46
06/30/16 Maturity 240.73100.00000%240.73
06/30/16 Maturity 54.95100.00000%54.95
06/30/16 Maturity 1,094.98100.00000%1,094.98
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
07/02/16 Maturity 1,244.93100.00000%1,244.93
07/05/16 Maturity 8,979.64100.00000%8,979.64
07/12/16 Maturity 0.07100.00000%0.07
07/19/16 Maturity 2,570.81100.00000%2,570.81
07/22/16 Maturity 433.65100.00000%433.65
07/27/16 Maturity 467.81100.00000%467.81
07/31/16 Principal (662.36)100.00000%(662.36)
07/31/16 Interest 662.36100.00000%662.36
08/02/16 Maturity 76,398.21100.00000%76,398.21
08/05/16 Maturity 1,469.57100.00000%1,469.57
08/05/16 Maturity 1,469.57100.00000%1,469.57
08/09/16 Maturity 353,481.00100.00000%353,481.00
08/19/16 Principal (601.86)100.00000%(601.86)
08/23/16 Maturity 2,803.90100.00000%2,803.90
08/31/16 Principal 13.96100.00000%13.96
08/31/16 Interest (13.96)100.00000%(13.96)
09/02/16 Maturity 1,972.25100.00000%1,972.25
09/06/16 Maturity 1,095.00100.00000%1,095.00
09/12/16 Principal (1,070.00)100.00000%(1,070.00)
09/16/16 Maturity 1,278.57100.00000%1,278.57
09/27/16 Maturity 2,414.70100.00000%2,414.70
09/30/16 Principal (242.01)100.00000%(242.01)
09/30/16 Interest 242.01100.00000%242.01
09/30/16 Maturity 799.47100.00000%799.47
10/14/16 Maturity 952.26100.00000%952.26
10/18/16 Maturity 16,708.93100.00000%16,708.93
10/25/16 Maturity 8,177.73100.00000%8,177.73
10/28/16 Maturity 1,521.53100.00000%1,521.53
10/31/16 Principal 100.86100.00000%100.86
10/31/16 Interest (100.86)100.00000%(100.86)
11/08/16 Maturity 84,102.00100.00000%84,102.00
11/10/16 Maturity 797.23100.00000%797.23
11/15/16 Maturity 407.50100.00000%407.50
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
11/23/16 Maturity 854.81100.00000%854.81
11/29/16 Maturity 8,897.50100.00000%8,897.50
11/30/16 Principal 528.32100.00000%528.32
11/30/16 Interest (528.32)100.00000%(528.32)
12/06/16 Maturity 1,052.34100.00000%1,052.34
12/09/16 Maturity 1,726.01100.00000%1,726.01
12/16/16 Maturity 1,962.40100.00000%1,962.40
12/20/16 Maturity 988.64100.00000%988.64
12/23/16 Maturity 786.24100.00000%786.24
12/31/16 Principal (1,312.68)100.00000%(1,312.68)
12/31/16 Interest 1,312.68100.00000%1,312.68
12/31/16 Maturity 1,463.40100.00000%1,463.40
12/31/16 Maturity 0.14100.00000%0.14
12/31/16 Maturity 22.10100.00000%22.10
12/31/16 Maturity 110.74100.00000%110.74
12/31/16 Maturity 415.54100.00000%415.54
12/31/16 Maturity 318.49100.00000%318.49
12/31/16 Maturity 49.61100.00000%49.61
12/31/16 Maturity 10.07100.00000%10.07
12/31/16 Maturity 114.28100.00000%114.28
12/31/16 Maturity 48.36100.00000%48.36
12/31/16 Maturity 63.99100.00000%63.99
12/31/16 Maturity 115.16100.00000%115.16
12/31/16 Maturity 5.39100.00000%5.39
12/31/16 Maturity 164.58100.00000%164.58
12/31/16 Maturity 1,166.19100.00000%1,166.19
01/06/17 Maturity 59.48100.00000%59.48
01/10/17 Maturity 323.97100.00000%323.97
01/17/17 Maturity 592.00100.00000%592.00
01/20/17 Maturity 184.49100.00000%184.49
01/24/17 Maturity 947.50100.00000%947.50
01/31/17 Principal (524.73)100.00000%(524.73)
01/31/17 Interest 524.73100.00000%524.73
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
02/03/17 Maturity 434.04100.00000%434.04
02/15/17 Maturity 1,410.69100.00000%1,410.69
02/17/17 Maturity 166.05100.00000%166.05
02/28/17 Principal (704.27)100.00000%(704.27)
02/28/17 Interest 704.27100.00000%704.27
03/03/17 Maturity 237.06100.00000%237.06
03/14/17 Maturity 2,948.63100.00000%2,948.63
03/17/17 Maturity 166.11100.00000%166.11
03/28/17 Maturity 6,680.00100.00000%6,680.00
03/31/17 Principal (112.04)100.00000%(112.04)
03/31/17 Interest 112.04100.00000%112.04
03/31/17 Maturity 166.83100.00000%166.83
03/31/17 Maturity 1,200.86100.00000%1,200.86
03/31/17 Maturity 9.24100.00000%9.24
03/31/17 Maturity 0.11100.00000%0.11
03/31/17 Maturity 90.57100.00000%90.57
03/31/17 Maturity 301.86100.00000%301.86
03/31/17 Maturity 259.01100.00000%259.01
03/31/17 Maturity 107.20100.00000%107.20
03/31/17 Maturity 58.60100.00000%58.60
03/31/17 Maturity 130.16100.00000%130.16
03/31/17 Maturity 115.16100.00000%115.16
03/31/17 Maturity 13.49100.00000%13.49
03/31/17 Maturity 59.13100.00000%59.13
03/31/17 Maturity 42.10100.00000%42.10
04/04/17 Maturity 300.00100.00000%300.00
04/04/17 Maturity 962.60100.00000%962.60
04/14/17 Maturity 307.95100.00000%307.95
04/25/17 Maturity 7,687.54100.00000%7,687.54
04/30/17 Principal (556.85)100.00000%(556.85)
04/30/17 Interest 556.85100.00000%556.85
05/04/17 Principal (3.65)100.00000%(3.65)
05/30/17 Maturity 8,830.81100.00000%8,830.81
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
05/31/17 Principal (402.06)100.00000%(402.06)
05/31/17 Interest 402.06100.00000%402.06
06/30/17 Principal (0.49)100.00000%(0.49)
06/30/17 Principal (4,992.42)100.00000%(4,992.42)
06/30/17 Principal (373.08)100.00000%(373.08)
06/30/17 Principal (55.76)100.00000%(55.76)
06/30/17 Interest 55.76100.00000%55.76
06/30/17 Maturity 75.87100.00000%75.87
06/30/17 Maturity 1,349.62100.00000%1,349.62
06/30/17 Maturity 0.13100.00000%0.13
06/30/17 Maturity 512.69100.00000%512.69
06/30/17 Maturity 34.85100.00000%34.85
06/30/17 Maturity 179.15100.00000%179.15
06/30/17 Maturity 45.98100.00000%45.98
06/30/17 Maturity 2.32100.00000%2.32
06/30/17 Maturity 153.54100.00000%153.54
06/30/17 Maturity 76.19100.00000%76.19
06/30/17 Maturity 21.67100.00000%21.67
06/30/17 Maturity 280.79100.00000%280.79
06/30/17 Maturity 101.42100.00000%101.42
06/30/17 Maturity 13.07100.00000%13.07
06/30/17 Maturity 4,992.42100.00000%4,992.42
06/30/17 Maturity 0.49100.00000%0.49
06/30/17 Maturity 373.08100.00000%373.08
06/30/17 Maturity 1,176.94100.00000%1,176.94
06/30/17 Maturity 1,074.71100.00000%1,074.71
06/30/17 Maturity 124.42100.00000%124.42
06/30/17 Maturity 366.85100.00000%366.85
06/30/17 Maturity 229.57100.00000%229.57
06/30/17 Maturity 184.63100.00000%184.63
06/30/17 Maturity 37.00100.00000%37.00
06/30/17 Maturity 476.43100.00000%476.43
06/30/17 Maturity 186.19100.00000%186.19
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
06/30/17 Maturity 5,062.56100.00000%5,062.56
06/30/17 Maturity 0.50100.00000%0.50
06/30/17 Maturity 378.34100.00000%378.34
07/05/17 Maturity 16,245.28100.00000%16,245.28
07/25/17 Maturity 9,142.88100.00000%9,142.88
07/31/17 Principal (559.30)100.00000%(559.30)
07/31/17 Interest 559.30100.00000%559.30
08/22/17 Maturity 1,795.00100.00000%1,795.00
08/29/17 Maturity 13,546.64100.00000%13,546.64
08/31/17 Principal (947.33)100.00000%(947.33)
08/31/17 Interest 947.33100.00000%947.33
09/26/17 Maturity 2,401.87100.00000%2,401.87
09/30/17 Principal 454.40100.00000%454.40
09/30/17 Interest (454.40)100.00000%(454.40)
09/30/17 Maturity 957.29100.00000%957.29
09/30/17 Maturity 0.09100.00000%0.09
09/30/17 Maturity 71.69100.00000%71.69
09/30/17 Maturity 231.29100.00000%231.29
09/30/17 Maturity 201.64100.00000%201.64
09/30/17 Maturity 24.81100.00000%24.81
09/30/17 Maturity 30.00100.00000%30.00
09/30/17 Maturity 31.33100.00000%31.33
09/30/17 Maturity 30.33100.00000%30.33
09/30/17 Maturity 78.95100.00000%78.95
09/30/17 Maturity 13.50100.00000%13.50
09/30/17 Maturity 41.22100.00000%41.22
10/03/17 Maturity 742.60100.00000%742.60
10/24/17 Maturity 1,256.80100.00000%1,256.80
10/31/17 Principal (57.94)100.00000%(57.94)
10/31/17 Interest 57.94100.00000%57.94
11/28/17 Maturity 8,646.09100.00000%8,646.09
11/30/17 Principal 418.05100.00000%418.05
11/30/17 Interest (418.05)100.00000%(418.05)
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
12/05/17 Maturity 566.70100.00000%566.70
12/19/17 Maturity 5,339.78100.00000%5,339.78
12/31/17 Principal (60.68)100.00000%(60.68)
12/31/17 Interest 60.68100.00000%60.68
12/31/17 Maturity 1,426.68100.00000%1,426.68
12/31/17 Maturity 13.85100.00000%13.85
12/31/17 Maturity 0.14100.00000%0.14
12/31/17 Maturity 107.34100.00000%107.34
12/31/17 Maturity 569.20100.00000%569.20
12/31/17 Maturity 310.83100.00000%310.83
12/31/17 Maturity 46.15100.00000%46.15
12/31/17 Maturity 94.49100.00000%94.49
12/31/17 Maturity 54.10100.00000%54.10
12/31/17 Maturity 93.65100.00000%93.65
12/31/17 Maturity 118.42100.00000%118.42
12/31/17 Maturity 60.86100.00000%60.86
12/31/17 Maturity 43.55100.00000%43.55
01/16/18 Maturity 227.50100.00000%227.50
01/31/18 Principal 1,410.26100.00000%1,410.26
01/31/18 Interest (1,410.26)100.00000%(1,410.26)
02/20/18 Maturity 1,120.00100.00000%1,120.00
02/28/18 Principal (52.27)100.00000%(52.27)
02/28/18 Interest 52.27100.00000%52.27
03/27/18 Maturity 4,800.46100.00000%4,800.46
03/28/18 Principal 3.26100.00000%3.26
03/28/18 Interest (3.26)100.00000%(3.26)
03/30/18 Maturity 156.80100.00000%156.80
03/31/18 Principal (1,521.94)100.00000%(1,521.94)
03/31/18 Interest 1,521.94100.00000%1,521.94
03/31/18 Maturity 70.67100.00000%70.67
03/31/18 Maturity 490.59100.00000%490.59
03/31/18 Maturity 0.05100.00000%0.05
03/31/18 Maturity 36.76100.00000%36.76
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
03/31/18 Maturity 113.01100.00000%113.01
03/31/18 Maturity 107.30100.00000%107.30
03/31/18 Maturity 16.28100.00000%16.28
03/31/18 Maturity 97.66100.00000%97.66
03/31/18 Maturity 28.29100.00000%28.29
03/31/18 Maturity 20.08100.00000%20.08
03/31/18 Maturity 29.42100.00000%29.42
03/31/18 Maturity 39.47100.00000%39.47
03/31/18 Maturity 1.61100.00000%1.61
04/03/18 Maturity 559.00100.00000%559.00
04/17/18 Maturity 59.00100.00000%59.00
04/24/18 Maturity 8,198.67100.00000%8,198.67
04/27/18 Maturity 2,999.40100.00000%2,999.40
04/30/18 Principal 485.43100.00000%485.43
04/30/18 Interest (485.43)100.00000%(485.43)
05/11/18 Maturity 7,191.34100.00000%7,191.34
05/15/18 Maturity 9,217.96100.00000%9,217.96
05/22/18 Maturity 790.70100.00000%790.70
05/25/18 Maturity 365.16100.00000%365.16
05/31/18 Principal (1,445.98)100.00000%(1,445.98)
05/31/18 Interest 1,445.98100.00000%1,445.98
06/19/18 Maturity 2,921.85100.00000%2,921.85
06/26/18 Maturity 2,289.27100.00000%2,289.27
06/30/18 Principal (58.30)100.00000%(58.30)
06/30/18 Principal (4.71)100.00000%(4.71)
06/30/18 Principal (6.37)100.00000%(6.37)
06/30/18 Principal (0.01)100.00000%(0.01)
06/30/18 Principal (14.15)100.00000%(14.15)
06/30/18 Principal (1.60)100.00000%(1.60)
06/30/18 Principal (144.95)100.00000%(144.95)
06/30/18 Interest 144.95100.00000%144.95
06/30/18 Maturity 478.50100.00000%478.50
06/30/18 Maturity 6.37100.00000%6.37
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
06/30/18 Maturity 0.05100.00000%0.05
06/30/18 Maturity 35.93100.00000%35.93
06/30/18 Maturity 155.38100.00000%155.38
06/30/18 Maturity 106.22100.00000%106.22
06/30/18 Maturity 13.83100.00000%13.83
06/30/18 Maturity 8.92100.00000%8.92
06/30/18 Maturity 36.09100.00000%36.09
06/30/18 Maturity 24.87100.00000%24.87
06/30/18 Maturity 31.84100.00000%31.84
06/30/18 Maturity 52.63100.00000%52.63
06/30/18 Maturity 29.16100.00000%29.16
06/30/18 Maturity 9.15100.00000%9.15
07/24/18 Maturity 9,550.52100.00000%9,550.52
07/31/18 Principal 13.93100.00000%13.93
07/31/18 Interest (13.93)100.00000%(13.93)
07/31/18 Maturity 881.60100.00000%881.60
08/14/18 Maturity 1,795.00100.00000%1,795.00
08/21/18 Maturity 59.35100.00000%59.35
08/31/18 Principal (1,462.61)100.00000%(1,462.61)
08/31/18 Interest 1,462.61100.00000%1,462.61
09/28/18 Maturity 173.41100.00000%173.41
09/30/18 Principal (667.41)100.00000%(667.41)
09/30/18 Interest 667.41100.00000%667.41
09/30/18 Maturity 445.54100.00000%445.54
09/30/18 Maturity 6.37100.00000%6.37
09/30/18 Maturity 0.05100.00000%0.05
09/30/18 Maturity 32.78100.00000%32.78
09/30/18 Maturity 121.10100.00000%121.10
09/30/18 Maturity 99.08100.00000%99.08
09/30/18 Maturity 15.21100.00000%15.21
09/30/18 Maturity 10.12100.00000%10.12
09/30/18 Maturity 11.13100.00000%11.13
09/30/18 Maturity 5.11100.00000%5.11
Wells Fargo (to 10/19/18)
Alloc. $Alloc. %Type100% $ Date
09/30/18 Maturity 27.08100.00000%27.08
09/30/18 Maturity 55.90100.00000%55.90
09/30/18 Maturity 2.28100.00000%2.28
09/30/18 Maturity 17.40100.00000%17.40
09/30/18 Maturity 898.51100.00000%898.51
10/02/18 Maturity 14,172.94100.00000%14,172.94
10/12/18 Maturity 755.91100.00000%755.91
10/16/18 Maturity 38,697.48100.00000%38,697.48
10/16/18 Maturity 38,697.48100.00000%38,697.48
10/19/18 Maturity 254,850.99100.00000%254,850.99
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 5 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (to 8/28/18)
Net 105,884.21 Yield 0.96048549%
Alloc. $Alloc. %Type100% $ Date
02/02/16 Principal (6,000,000.00)100.00000%(6,000,000.00)
02/29/16 Principal (4,238.11)100.00000%(4,238.11)
02/29/16 Interest 4,238.11100.00000%4,238.11
03/31/16 Principal (4,415.71)100.00000%(4,415.71)
03/31/16 Interest 4,415.71100.00000%4,415.71
04/30/16 Principal (9,210.10)100.00000%(9,210.10)
04/30/16 Interest 9,210.10100.00000%9,210.10
05/31/16 Principal (9,816.63)100.00000%(9,816.63)
05/31/16 Interest 9,816.63100.00000%9,816.63
06/30/16 Principal (7,851.51)100.00000%(7,851.51)
06/30/16 Interest 7,851.51100.00000%7,851.51
07/31/16 Principal (7,929.80)100.00000%(7,929.80)
07/31/16 Interest 7,929.80100.00000%7,929.80
08/31/16 Principal (6,646.20)100.00000%(6,646.20)
08/31/16 Interest 6,646.20100.00000%6,646.20
09/30/16 Principal (5,629.03)100.00000%(5,629.03)
09/30/16 Interest 5,629.03100.00000%5,629.03
10/18/16 Maturity 57,565.47100.00000%57,565.47
10/28/16 Maturity 1,426.05100.00000%1,426.05
10/31/16 Principal (5,298.09)100.00000%(5,298.09)
10/31/16 Interest 5,298.09100.00000%5,298.09
10/31/16 Maturity 6,294.68100.00000%6,294.68
11/08/16 Maturity 42,574.44100.00000%42,574.44
11/10/16 Maturity 2,709.07100.00000%2,709.07
11/15/16 Maturity 29,965.00100.00000%29,965.00
11/22/16 Maturity 28,750.00100.00000%28,750.00
11/23/16 Maturity 1,592.25100.00000%1,592.25
11/30/16 Principal 5,998.03100.00000%5,998.03
11/30/16 Interest (5,998.03)100.00000%(5,998.03)
12/06/16 Maturity 156,486.60100.00000%156,486.60
12/09/16 Maturity 2,523.11100.00000%2,523.11
12/23/16 Maturity 2,843.46100.00000%2,843.46
12/27/16 Maturity 285,735.27100.00000%285,735.27
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
12/31/16 Principal (10,354.16)100.00000%(10,354.16)
12/31/16 Principal (3,590.56)100.00000%(3,590.56)
12/31/16 Interest 10,354.16100.00000%10,354.16
12/31/16 Maturity 5,777.31100.00000%5,777.31
12/31/16 Maturity 0.58100.00000%0.58
12/31/16 Maturity 87.26100.00000%87.26
12/31/16 Maturity 512.27100.00000%512.27
12/31/16 Maturity 1,640.50100.00000%1,640.50
12/31/16 Maturity 1,257.31100.00000%1,257.31
12/31/16 Maturity 195.87100.00000%195.87
12/31/16 Maturity 45.06100.00000%45.06
12/31/16 Maturity 511.31100.00000%511.31
12/31/16 Maturity 216.37100.00000%216.37
12/31/16 Maturity 286.28100.00000%286.28
12/31/16 Maturity 515.18100.00000%515.18
12/31/16 Maturity 24.15100.00000%24.15
12/31/16 Maturity 736.37100.00000%736.37
12/31/16 Maturity 12,388.51100.00000%12,388.51
01/06/17 Maturity 951.58100.00000%951.58
01/20/17 Maturity 2,380.02100.00000%2,380.02
01/31/17 Principal (5,613.49)100.00000%(5,613.49)
01/31/17 Interest 5,613.49100.00000%5,613.49
01/31/17 Maturity 160.00100.00000%160.00
02/03/17 Maturity 4,895.87100.00000%4,895.87
02/15/17 Maturity 964.75100.00000%964.75
02/17/17 Maturity 2,610.43100.00000%2,610.43
02/28/17 Principal (7,552.44)100.00000%(7,552.44)
02/28/17 Interest 7,552.44100.00000%7,552.44
03/01/17 Maturity 90.00100.00000%90.00
03/01/17 Maturity 300.00100.00000%300.00
03/03/17 Maturity 4,995.51100.00000%4,995.51
03/07/17 Maturity 4,403.12100.00000%4,403.12
03/17/17 Maturity 2,537.76100.00000%2,537.76
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
03/21/17 Maturity 3,150.15100.00000%3,150.15
03/28/17 Maturity 1,601.65100.00000%1,601.65
03/30/17 Maturity 90.00100.00000%90.00
03/30/17 Maturity 60.00100.00000%60.00
03/30/17 Maturity 90.00100.00000%90.00
03/31/17 Principal (1,300.00)100.00000%(1,300.00)
03/31/17 Principal (1,221.87)100.00000%(1,221.87)
03/31/17 Interest 1,221.87100.00000%1,221.87
03/31/17 Maturity 3,485.38100.00000%3,485.38
03/31/17 Maturity 5,300.28100.00000%5,300.28
03/31/17 Maturity 40.77100.00000%40.77
03/31/17 Maturity 0.53100.00000%0.53
03/31/17 Maturity 399.76100.00000%399.76
03/31/17 Maturity 1,332.32100.00000%1,332.32
03/31/17 Maturity 1,143.25100.00000%1,143.25
03/31/17 Maturity 536.23100.00000%536.23
03/31/17 Maturity 293.15100.00000%293.15
03/31/17 Maturity 651.10100.00000%651.10
03/31/17 Maturity 575.98100.00000%575.98
03/31/17 Maturity 67.54100.00000%67.54
03/31/17 Maturity 295.76100.00000%295.76
03/31/17 Maturity 185.81100.00000%185.81
04/04/17 Maturity 4,442.50100.00000%4,442.50
04/14/17 Maturity 3,204.71100.00000%3,204.71
04/25/17 Maturity 44,900.00100.00000%44,900.00
04/27/17 Principal (44,900.00)100.00000%(44,900.00)
04/27/17 Maturity 44,900.00100.00000%44,900.00
04/28/17 Maturity 3,961.91100.00000%3,961.91
04/30/17 Principal (6,140.98)100.00000%(6,140.98)
04/30/17 Interest 6,140.98100.00000%6,140.98
05/02/17 Maturity 141,121.64100.00000%141,121.64
05/04/17 Principal (39.19)100.00000%(39.19)
05/05/17 Maturity 30.00100.00000%30.00
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 6 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
05/09/17 Maturity 33,383.57100.00000%33,383.57
05/12/17 Maturity 4,286.56100.00000%4,286.56
05/15/17 Principal (7,122.34)100.00000%(7,122.34)
05/24/17 Principal (2,840.35)100.00000%(2,840.35)
05/24/17 Maturity 2,840.35100.00000%2,840.35
05/26/17 Maturity 2,152.20100.00000%2,152.20
05/26/17 Maturity 2,840.35100.00000%2,840.35
05/31/17 Principal (4,366.89)100.00000%(4,366.89)
05/31/17 Interest 4,366.89100.00000%4,366.89
06/06/17 Maturity 1,991.00100.00000%1,991.00
06/09/17 Maturity 4,476.81100.00000%4,476.81
06/13/17 Maturity 142,283.65100.00000%142,283.65
06/20/17 Maturity 327,464.53100.00000%327,464.53
06/23/17 Maturity 3,731.92100.00000%3,731.92
06/27/17 Maturity 54.00100.00000%54.00
06/30/17 Principal (0.02)100.00000%(0.02)
06/30/17 Principal (239.96)100.00000%(239.96)
06/30/17 Principal (17.94)100.00000%(17.94)
06/30/17 Principal (548.83)100.00000%(548.83)
06/30/17 Interest 548.83100.00000%548.83
06/30/17 Maturity 5,330.05100.00000%5,330.05
06/30/17 Maturity 341.46100.00000%341.46
06/30/17 Maturity 5,359.47100.00000%5,359.47
06/30/17 Maturity 0.55100.00000%0.55
06/30/17 Maturity 2,035.93100.00000%2,035.93
06/30/17 Maturity 138.40100.00000%138.40
06/30/17 Maturity 806.30100.00000%806.30
06/30/17 Maturity 206.93100.00000%206.93
06/30/17 Maturity 10.42100.00000%10.42
06/30/17 Maturity 690.94100.00000%690.94
06/30/17 Maturity 342.89100.00000%342.89
06/30/17 Maturity 97.52100.00000%97.52
06/30/17 Maturity 1,115.05100.00000%1,115.05
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
06/30/17 Maturity 402.75100.00000%402.75
06/30/17 Maturity 51.92100.00000%51.92
06/30/17 Maturity 239.96100.00000%239.96
06/30/17 Maturity 0.02100.00000%0.02
06/30/17 Maturity 17.94100.00000%17.94
06/30/17 Maturity 56.58100.00000%56.58
06/30/17 Maturity 51.65100.00000%51.65
06/30/17 Maturity 5.98100.00000%5.98
06/30/17 Maturity 17.64100.00000%17.64
06/30/17 Maturity 11.04100.00000%11.04
06/30/17 Maturity 8.88100.00000%8.88
06/30/17 Maturity 1.78100.00000%1.78
06/30/17 Maturity 22.90100.00000%22.90
06/30/17 Maturity 8.95100.00000%8.95
06/30/17 Maturity 243.34100.00000%243.34
06/30/17 Maturity 0.02100.00000%0.02
06/30/17 Maturity 18.18100.00000%18.18
07/01/17 Maturity 5,330.05100.00000%5,330.05
07/05/17 Maturity 119,086.90100.00000%119,086.90
07/11/17 Maturity 281,395.00100.00000%281,395.00
07/18/17 Maturity 703.12100.00000%703.12
07/21/17 Principal (2,386.35)100.00000%(2,386.35)
07/25/17 Maturity 326,998.27100.00000%326,998.27
07/27/17 Principal (42,877.66)100.00000%(42,877.66)
07/31/17 Principal (5,083.69)100.00000%(5,083.69)
07/31/17 Interest 5,083.69100.00000%5,083.69
08/04/17 Maturity 6,216.60100.00000%6,216.60
08/08/17 Maturity 100,108.00100.00000%100,108.00
08/15/17 Maturity 70,950.00100.00000%70,950.00
08/18/17 Maturity 3,627.00100.00000%3,627.00
08/22/17 Maturity 662,441.28100.00000%662,441.28
08/29/17 Maturity 8,072.50100.00000%8,072.50
08/31/17 Principal (7,020.90)100.00000%(7,020.90)
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
08/31/17 Interest 7,020.90100.00000%7,020.90
09/01/17 Maturity 5,643.47100.00000%5,643.47
09/05/17 Maturity 150,691.28100.00000%150,691.28
09/12/17 Principal (74.70)100.00000%(74.70)
09/12/17 Principal (35,616.58)100.00000%(35,616.58)
09/12/17 Maturity 35,691.28100.00000%35,691.28
09/15/17 Maturity 2,723.45100.00000%2,723.45
09/19/17 Principal (74.70)100.00000%(74.70)
09/19/17 Principal (35,616.58)100.00000%(35,616.58)
09/19/17 Maturity 309,437.72100.00000%309,437.72
09/26/17 Maturity 54,027.76100.00000%54,027.76
09/29/17 Maturity 3,441.83100.00000%3,441.83
09/30/17 Principal 2,859.98100.00000%2,859.98
09/30/17 Interest (2,859.98)100.00000%(2,859.98)
09/30/17 Maturity 4,629.08100.00000%4,629.08
09/30/17 Maturity 0.45100.00000%0.45
09/30/17 Maturity 346.67100.00000%346.67
09/30/17 Maturity 1,118.39100.00000%1,118.39
09/30/17 Maturity 975.04100.00000%975.04
09/30/17 Maturity 119.96100.00000%119.96
09/30/17 Maturity 145.04100.00000%145.04
09/30/17 Maturity 151.51100.00000%151.51
09/30/17 Maturity 146.66100.00000%146.66
09/30/17 Maturity 381.76100.00000%381.76
09/30/17 Maturity 65.28100.00000%65.28
09/30/17 Maturity 199.32100.00000%199.32
10/10/17 Maturity 235.50100.00000%235.50
10/13/17 Maturity 2,854.55100.00000%2,854.55
10/17/17 Maturity 40,903.06100.00000%40,903.06
10/24/17 Maturity 21,185.30100.00000%21,185.30
10/27/17 Maturity 2,447.08100.00000%2,447.08
10/31/17 Principal (358.12)100.00000%(358.12)
10/31/17 Interest 358.12100.00000%358.12
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 7 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
10/31/17 Maturity 238.88100.00000%238.88
11/07/17 Maturity 2,208.00100.00000%2,208.00
11/09/17 Maturity 1,873.57100.00000%1,873.57
11/14/17 Maturity 30,790.00100.00000%30,790.00
11/21/17 Maturity 2,504.25100.00000%2,504.25
11/22/17 Maturity 1,567.47100.00000%1,567.47
11/30/17 Principal 2,602.01100.00000%2,602.01
11/30/17 Interest (2,602.01)100.00000%(2,602.01)
12/08/17 Maturity 2,539.40100.00000%2,539.40
12/12/17 Maturity 5,365.45100.00000%5,365.45
12/19/17 Maturity 10,440.39100.00000%10,440.39
12/22/17 Maturity 1,235.09100.00000%1,235.09
12/26/17 Maturity 1,354.53100.00000%1,354.53
12/31/17 Principal (107.13)100.00000%(107.13)
12/31/17 Interest 107.13100.00000%107.13
12/31/17 Maturity 6,198.41100.00000%6,198.41
12/31/17 Maturity 60.18100.00000%60.18
12/31/17 Maturity 0.65100.00000%0.65
12/31/17 Maturity 476.50100.00000%476.50
12/31/17 Maturity 2,472.98100.00000%2,472.98
12/31/17 Maturity 1,354.64100.00000%1,354.64
12/31/17 Maturity 200.50100.00000%200.50
12/31/17 Maturity 410.55100.00000%410.55
12/31/17 Maturity 235.02100.00000%235.02
12/31/17 Maturity 406.90100.00000%406.90
12/31/17 Maturity 514.48100.00000%514.48
12/31/17 Maturity 264.39100.00000%264.39
01/05/18 Maturity 493.17100.00000%493.17
01/05/18 Maturity 60.00100.00000%60.00
01/05/18 Maturity 60.00100.00000%60.00
01/05/18 Maturity 90.00100.00000%90.00
01/05/18 Maturity 90.00100.00000%90.00
01/05/18 Maturity 45.00100.00000%45.00
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
01/05/18 Maturity 45.00100.00000%45.00
01/09/18 Maturity 2,882.10100.00000%2,882.10
01/16/18 Maturity 758.67100.00000%758.67
01/19/18 Maturity 1,535.82100.00000%1,535.82
01/23/18 Maturity 4,559.61100.00000%4,559.61
01/30/18 Maturity 1,940.00100.00000%1,940.00
01/31/18 Principal 8,782.53100.00000%8,782.53
01/31/18 Interest (8,782.53)100.00000%(8,782.53)
02/02/18 Maturity 3,331.51100.00000%3,331.51
02/09/18 Maturity 90.00100.00000%90.00
02/13/18 Maturity 67,425.23100.00000%67,425.23
02/16/18 Maturity 1,679.16100.00000%1,679.16
02/20/18 Maturity 1,645.00100.00000%1,645.00
02/28/18 Principal (316.48)100.00000%(316.48)
02/28/18 Interest 316.48100.00000%316.48
02/28/18 Maturity 168.00100.00000%168.00
02/28/18 Maturity 100.00100.00000%100.00
02/28/18 Maturity 1,393.74100.00000%1,393.74
02/28/18 Maturity 19.74100.00000%19.74
03/02/18 Maturity 1,745.06100.00000%1,745.06
03/12/18 Principal (1,661.74)100.00000%(1,661.74)
03/16/18 Maturity 1,678.68100.00000%1,678.68
03/20/18 Maturity 5,705.24100.00000%5,705.24
03/24/18 Maturity 39.20100.00000%39.20
03/27/18 Maturity 1,980.00100.00000%1,980.00
03/30/18 Maturity 2,009.78100.00000%2,009.78
03/31/18 Principal (9,253.47)100.00000%(9,253.47)
03/31/18 Interest 9,253.47100.00000%9,253.47
03/31/18 Maturity 1,003.45100.00000%1,003.45
03/31/18 Maturity 6,965.75100.00000%6,965.75
03/31/18 Maturity 0.70100.00000%0.70
03/31/18 Maturity 521.89100.00000%521.89
03/31/18 Maturity 1,604.56100.00000%1,604.56
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
03/31/18 Maturity 1,523.48100.00000%1,523.48
03/31/18 Maturity 231.11100.00000%231.11
03/31/18 Maturity 1,386.67100.00000%1,386.67
03/31/18 Maturity 401.73100.00000%401.73
03/31/18 Maturity 285.07100.00000%285.07
03/31/18 Maturity 417.76100.00000%417.76
03/31/18 Maturity 560.49100.00000%560.49
03/31/18 Maturity 22.85100.00000%22.85
04/10/18 Maturity 2,637.00100.00000%2,637.00
04/13/18 Maturity 2,846.80100.00000%2,846.80
04/24/18 Maturity 20.35100.00000%20.35
04/27/18 Maturity 1,161.28100.00000%1,161.28
04/30/18 Principal 3,034.32100.00000%3,034.32
04/30/18 Interest (3,034.32)100.00000%(3,034.32)
05/01/18 Maturity 16,603.83100.00000%16,603.83
05/11/18 Maturity 978.88100.00000%978.88
05/22/18 Maturity 2,963.50100.00000%2,963.50
05/25/18 Maturity 1,320.31100.00000%1,320.31
05/31/18 Principal (9,387.89)100.00000%(9,387.89)
05/31/18 Interest 9,387.89100.00000%9,387.89
06/08/18 Maturity 3,116.33100.00000%3,116.33
06/19/18 Maturity 40,179.62100.00000%40,179.62
06/22/18 Maturity 2,250.35100.00000%2,250.35
06/26/18 Maturity 218,873.64100.00000%218,873.64
06/30/18 Principal (844.00)100.00000%(844.00)
06/30/18 Principal (68.22)100.00000%(68.22)
06/30/18 Principal (92.29)100.00000%(92.29)
06/30/18 Principal (0.10)100.00000%(0.10)
06/30/18 Principal (204.85)100.00000%(204.85)
06/30/18 Principal (23.09)100.00000%(23.09)
06/30/18 Principal (845.10)100.00000%(845.10)
06/30/18 Interest 845.10100.00000%845.10
06/30/18 Maturity 6,926.70100.00000%6,926.70
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 8 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/26
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (to 8/28/18)
Alloc. $Alloc. %Type100% $ Date
06/30/18 Maturity 92.29100.00000%92.29
06/30/18 Maturity 0.70100.00000%0.70
06/30/18 Maturity 520.13100.00000%520.13
06/30/18 Maturity 2,249.25100.00000%2,249.25
06/30/18 Maturity 1,537.54100.00000%1,537.54
06/30/18 Maturity 200.18100.00000%200.18
06/30/18 Maturity 129.08100.00000%129.08
06/30/18 Maturity 522.35100.00000%522.35
06/30/18 Maturity 360.02100.00000%360.02
06/30/18 Maturity 460.85100.00000%460.85
06/30/18 Maturity 761.89100.00000%761.89
06/30/18 Maturity 422.12100.00000%422.12
06/30/18 Maturity 132.46100.00000%132.46
07/06/18 Maturity 4,250.27100.00000%4,250.27
07/10/18 Maturity 507,064.00100.00000%507,064.00
07/17/18 Maturity 12,702.25100.00000%12,702.25
07/20/18 Maturity 2,424.23100.00000%2,424.23
07/24/18 Maturity 428,203.24100.00000%428,203.24
07/31/18 Principal 45.53100.00000%45.53
07/31/18 Interest (45.53)100.00000%(45.53)
08/03/18 Maturity 3,968.14100.00000%3,968.14
08/08/18 Maturity 250.00100.00000%250.00
08/14/18 Maturity 281,437.00100.00000%281,437.00
08/17/18 Maturity 3,166.59100.00000%3,166.59
08/21/18 Maturity 845,629.50100.00000%845,629.50
08/28/18 Maturity 5,465.58100.00000%5,465.58
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 15.00
PAR $7,010,000.00 EXHIBIT 5
Period 02/02/16 to 02/02/26
Calculation Credits
Period 02/02/16 to 02/02/26
Date AmountTransaction Type
02/02/17 (1,670.00)Computation Date
02/02/18 (1,700.00)Computation Date
02/02/19 (1,730.00)Computation Date
Arbitrage Compliance Specialists, Inc.