Kodiak Island Borough, AK_Ctrl#8 10th Rebate_CONTROL #8.00
KODIAK ISLAND BOROUGH, ALASKA
$8,000,000.00
GENERAL OBLIGATION SCHOOL BOND, 2011 SERIES A
ARBITRAGE REBATE CALCULATIONS
FOR THE 10TH YEAR COMPUTATION PERIOD
MARCH 01, 2011 TO MARCH 01, 2021
AS OF THE DATE OF THIS REPORT
MAY 20, 2021
ARBITRAGE
COMPLIANCE
SPECIALISTS!�
BOND COMPLIANCE SERVICES
Arbitrage Compliance Specialists, Inc.
6041 S. Syracuse Way #310 I Greenwood Village, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
Kodiak Island Borough, Alaska ("Issuer")
710 Mill Bay Road
Kodiak, Alaska 99615-6340
CONTROL #8.00
KODIAK ISLAND BOROUGH, ALASKA
$8,000,000.00
GENERAL OBLIGATION SCHOOL BOND, 2011 SERIES A
ARBITRAGE REBATE CALCULATIONS
FOR THE 10TH YEAR COMPUTATION PERIOD
MARCH 01, 2011 TO MARCH 01, 2021
AS OF THE DATE OF THIS REPORT
MAY 20, 2021
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
Please note that the Final IRS filing date is 60 days from March 01, 2031. 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 and 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.
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.
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.
6041 S. Syracuse Way #310 I Greenwood Village, Colorado 80111 I 800.672.9993 I www.rebatebyacs.com
NOTES AND ASSUMPTIONS
1. The PAR amount of the Debt is $8,000,000.00.
2. The Delivery Date of the Debt is March 01, 2011.
3. The Computation Date is March 01, 2021.
4. The Computation Period is March 01, 2011 to March 01, 2021.
5. The Bond Yield on the Debt is 4.5108%.
6. The Investment Yield is 2.10692186%
7. The Arbitrage Rebate Liability, as of the end of the calculation period, is ($415,658.97).
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.
Period 03/01/11 to 03/01/21
Bond Yield 4.51080000%
Investment Yield 2.10692186%
Liability ($415,658.97)
10th Year Arbitrage Rebate Calculation
KODIAK ISLAND BOROUGH, ALASKA
GENERAL OBLIGATION SCHOOL BOND, 2011 SERIES A
Page 1 of 6
$8,000,000.00
EXHIBIT 1
Control # 8.00
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
03/01/11 (7,779,496.43)1.56215829% (12,152,804.85) 3600
03/15/11 3,936.03 1.55945075% 6,138.04 3586
03/19/11 2,999.35 1.55867803% 4,675.02 3582
03/23/11 70,197.82 1.55790569% 109,361.58 3578
03/29/11 75,259.18 1.55674790% 117,159.57 3572
03/31/11 2,999.35 1.55655502% 4,668.65 3571
04/05/11 2,100.00 1.55559097% 3,266.74 3566
04/11/11 89.00 1.55443490% 138.34 3560
04/12/11 289.10 1.55424230% 449.33 3559
04/16/11 8,780.64 1.55347216% 13,640.48 3555
04/19/11 46.00 1.55289481% 71.43 3552
04/30/11 (2,516.18)1.55077967% (3,902.04) 3541
05/10/11 97,124.15 1.54885933% 150,431.65 3531
05/14/11 2,214.11 1.54809185% 3,427.65 3527
05/28/11 4,723.62 1.54540869% 7,299.92 3513
05/31/11 (25,392.42)1.54502576% (39,231.94) 3511
06/02/11 1,400.00 1.54464293% 2,162.50 3509
06/07/11 149.17 1.54368626% 230.27 3504
06/11/11 813.20 1.54292135% 1,254.70 3500
06/17/11 2,300.00 1.54177469% 3,546.08 3494
06/22/11 57,272.86 1.54081980% 88,247.16 3489
06/25/11 4,585.54 1.54024714% 7,062.86 3486
06/30/11 93,235.57 1.53929320% 143,516.88 3481
07/05/11 216.40 1.53833984% 332.90 3476
07/09/11 2,956.19 1.53757758% 4,545.37 3472
07/14/11 130,506.92 1.53662528% 200,540.23 3467
07/15/11 216.40 1.53643489% 332.48 3466
07/23/11 1,603.32 1.53491264% 2,460.96 3458
07/28/11 64,277.47 1.53396199% 98,599.20 3453
07/29/11 105.77 1.53377194% 162.23 3452
07/31/11 (21,605.46)1.53358190% (33,133.74) 3451
08/06/11 3,461.13 1.53244219% 5,303.98 3445
08/10/11 304.25 1.53168285% 466.01 3441
08/11/11 5,250.00 1.53149307% 8,040.34 3440
08/17/11 92.08 1.53035491% 140.92 3434
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 6
Control # 8.00
PAR $8,000,000.00 EXHIBIT 1
Period 03/01/11 to 03/01/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
08/20/11 2,710.53 1.52978615% 4,146.53 3431
08/31/11 (28,043.05)1.52789180% (42,846.75) 3421
09/03/11 4,619.38 1.52732395% 7,055.29 3418
09/15/11 131,848.19 1.52505467% 201,075.70 3406
09/23/11 225.21 1.52354368% 343.12 3398
09/27/11 (130,331.48)1.52278876% (198,467.31) 3394
09/29/11 137,745.91 1.52241143% 209,705.95 3392
09/30/11 13,150.84 1.52222280% 20,018.51 3391
10/01/11 11,412.80 1.52203420% 17,370.67 3390
10/06/11 104.37 1.52109153% 158.76 3385
10/15/11 3,636.48 1.51939620% 5,525.25 3376
10/17/11 34,416.52 1.51901972% 52,279.37 3374
10/20/11 (13,239.77)1.51845517% (20,104.00) 3371
10/28/11 120.00 1.51695072% 182.03 3363
10/29/11 4,198.05 1.51676277% 6,367.45 3362
10/31/11 17,697.79 1.51657485% 26,840.02 3361
11/09/11 1,992.35 1.51488455% 3,018.18 3352
11/10/11 150,342.58 1.51469685% 227,723.43 3351
11/15/11 216.40 1.51375873% 327.58 3346
11/30/11 (9,381.56)1.51094784% (14,175.05) 3331
12/02/11 4,991.27 1.51057345% 7,539.68 3329
12/08/11 1,560.00 1.50945084% 2,354.74 3323
12/15/11 134,217.97 1.50814218% 202,419.78 3316
12/22/11 3,440.48 1.50683465% 5,184.23 3309
12/31/11 4,693.42 1.50534172% 7,065.20 3301
01/06/12 218,718.42 1.50422299% 329,001.28 3295
01/10/12 242.13 1.50347764% 364.04 3291
01/11/12 (4,315.68)1.50329136% (6,487.72) 3290
01/13/12 (4,315.68)1.50291886% (6,486.12) 3288
01/17/12 216.40 1.50217415% 325.07 3284
01/27/12 18,970.12 1.50031399% 28,461.14 3274
01/31/12 (14,529.10)1.49975639% (21,790.11) 3271
02/02/12 3,848.16 1.49938478% 5,769.87 3269
02/03/12 4,415.86 1.49919900% 6,620.25 3268
02/10/12 4,202.60 1.49789923% 6,295.07 3261
02/13/12 350.00 1.49734253% 524.07 3258
02/15/12 216.40 1.49697151% 323.94 3256
02/17/12 24,899.29 1.49660058% 37,264.29 3254
02/24/12 411,157.68 1.49530306% 614,805.34 3247
02/29/12 (5,806.42)1.49437695% (8,676.98) 3242
03/01/12 (1,550.00)1.49400666% Computation Date Credit (2,315.71) 3240
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 6
Control # 8.00
PAR $8,000,000.00 EXHIBIT 1
Period 03/01/11 to 03/01/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
03/06/12 147,496.46 1.49308135% 220,224.21 3235
03/08/12 31.47 1.49271139% 46.98 3233
03/09/12 6,304.03 1.49252644% 9,408.93 3232
03/13/12 114.25 1.49178688% 170.44 3228
03/15/12 216.40 1.49141724% 322.74 3226
03/20/12 372,050.14 1.49049354% 554,538.33 3221
03/23/12 5,311.12 1.48993959% 7,913.25 3218
03/27/12 146.14 1.48920131% 217.63 3214
03/31/12 25,730.77 1.48864784% 38,304.06 3211
04/06/12 19,296.45 1.48754152% 28,704.27 3205
04/09/12 916.62 1.48698867% 1,363.00 3202
04/10/12 323,077.05 1.48680443% 480,352.39 3201
04/15/12 216.40 1.48588358% 321.55 3196
04/17/12 57.50 1.48551540% 85.42 3194
04/20/12 4,234.65 1.48496330% 6,288.30 3191
04/30/12 654.02 1.48312446% 969.99 3181
05/01/12 27,587.10 1.48294070% 40,910.03 3180
05/04/12 5,000.78 1.48238956% 7,413.10 3177
05/09/12 109,717.21 1.48147144% 162,542.91 3172
05/15/12 291.86 1.48037045% 432.06 3166
05/18/12 2,701.61 1.47982027% 3,997.90 3163
05/22/12 473.03 1.47908700% 699.65 3159
05/29/12 363,407.60 1.47780467% 537,045.45 3152
05/31/12 (2,081.22)1.47762157% (3,075.26) 3151
06/01/12 4,775.09 1.47743849% 7,054.90 3150
06/05/12 925,178.44 1.47670640% 1,366,216.93 3146
06/08/12 1,211.21 1.47615758% 1,787.94 3143
06/12/12 1,331.52 1.47542613% 1,964.56 3139
06/15/12 3,494.95 1.47487778% 5,154.62 3136
06/19/12 41,265.00 1.47414697% 60,830.67 3132
06/26/12 1,206.00 1.47286891% 1,776.28 3125
06/29/12 2,602.36 1.47232151% 3,831.51 3122
06/30/12 12,593.68 1.47213909% 18,539.65 3121
07/03/12 3,380.00 1.47159197% 4,973.98 3118
07/10/12 125,472.72 1.47031613% 184,484.56 3111
07/16/12 216.40 1.46922343% 317.94 3105
07/24/12 7,375.00 1.46776776% 10,824.79 3097
07/27/12 2,441.54 1.46722226% 3,582.28 3094
07/31/12 (8,794.02)1.46667696% (12,897.99) 3091
08/07/12 187,080.46 1.46540538% 274,148.71 3084
08/09/12 275.68 1.46504228% 403.88 3082
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 6
Control # 8.00
PAR $8,000,000.00 EXHIBIT 1
Period 03/01/11 to 03/01/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
08/10/12 4,199.35 1.46486076% 6,151.46 3081
08/14/12 69.62 1.46413491% 101.93 3077
08/15/12 292.75 1.46395350% 428.57 3076
08/24/12 2,523.57 1.46232185% 3,690.27 3067
08/31/12 6,484.22 1.46123510% 9,474.97 3061
09/04/12 465.66 1.46051104% 680.10 3057
09/07/12 2,518.39 1.45996824% 3,676.77 3054
09/10/12 131,021.09 1.45942563% 191,215.54 3051
09/11/12 216,628.57 1.45924481% 316,114.12 3050
09/15/12 2,412.06 1.45852174% 3,518.04 3046
09/17/12 216.40 1.45816034% 315.55 3044
09/25/12 7,828.05 1.45671564% 11,403.24 3036
09/26/12 8,775.00 1.45653515% 12,781.10 3035
10/02/12 1,225.00 1.45545270% 1,782.93 3029
10/05/12 2,826.46 1.45491177% 4,112.25 3026
10/09/12 4,710.24 1.45419085% 6,849.59 3022
10/15/12 216.40 1.45311014% 314.45 3016
10/16/12 72.41 1.45293010% 105.21 3015
10/19/12 2,509.43 1.45239011% 3,644.67 3012
10/23/12 10,666.43 1.45167044% 15,484.14 3008
10/30/12 329,632.74 1.45041187% 478,103.24 3001
10/31/12 2,554.19 1.45041187% 3,704.63 3001
11/02/12 4,496.88 1.45005248% 6,520.71 2999
11/07/12 (5.67)1.44915439% (8.22) 2994
11/13/12 85,797.37 1.44807742% 124,241.23 2988
11/15/12 216.40 1.44771861% 313.29 2986
11/16/12 3,880.66 1.44753924% 5,617.41 2985
11/30/12 2,949.30 1.44503035% 4,261.83 2971
12/11/12 35,914.61 1.44306214% 51,827.01 2960
12/14/12 5,251.69 1.44252582% 7,575.70 2957
12/17/12 516.40 1.44198969% 744.64 2954
12/18/12 4,500.00 1.44181103% 6,488.15 2953
12/28/12 4,174.32 1.44002562% 6,011.13 2943
12/31/12 10,907.32 1.43966880% 15,702.93 2941
01/08/13 21,749.00 1.43824242% 31,280.33 2933
01/11/13 7,441.22 1.43770789% 10,698.30 2930
01/15/13 37,184.78 1.43699549% 53,434.36 2926
01/22/13 1,000.00 1.43574965% 1,435.75 2919
01/24/13 210,257.17 1.43539389% 301,801.86 2917
01/25/13 5,926.76 1.43521605% 8,506.18 2916
01/29/13 7,036.44 1.43450488% 10,093.81 2912
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 5 of 6
Control # 8.00
PAR $8,000,000.00 EXHIBIT 1
Period 03/01/11 to 03/01/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
01/31/13 4,569.61 1.43432715% 6,554.32 2911
02/05/13 11,725.19 1.43343880% 16,807.34 2906
02/07/13 (2,667.98)1.43308362% (3,823.44) 2904
02/08/13 5,294.70 1.43290606% 7,586.81 2903
02/12/13 2,971.53 1.43219604% 4,255.81 2899
02/15/13 216.40 1.43166376% 309.81 2896
02/19/13 18,451.47 1.43095436% 26,403.21 2892
02/22/13 4,864.48 1.43042253% 6,958.26 2889
02/28/13 (1,369.59)1.42935949% (1,957.64) 2883
03/01/13 (1,590.00)1.42882826% Computation Date Credit (2,271.84) 2880
03/08/13 3,487.04 1.42758949% 4,978.06 2873
03/11/13 42.40 1.42705892% 60.51 2870
03/12/13 59.28 1.42688211% 84.59 2869
03/15/13 216.40 1.42635180% 308.66 2866
03/19/13 9,480.90 1.42564503% 13,516.40 2862
03/21/13 178,326.82 1.42529178% 254,167.75 2860
03/22/13 4,654.90 1.42511519% 6,633.77 2859
03/31/13 44,847.42 1.42370322% 63,849.42 2851
04/02/13 10,875.00 1.42335045% 15,478.94 2849
04/05/13 5,432.63 1.42282145% 7,729.66 2846
04/09/13 8,511.00 1.42211643% 12,103.63 2842
04/15/13 216.40 1.42105956% 307.52 2836
04/16/13 12,259.24 1.42088349% 17,418.95 2835
04/19/13 5,053.56 1.42035541% 7,177.85 2832
04/22/13 (163.13)1.41982753% (231.62) 2829
04/23/13 70,735.34 1.41965161% 100,419.54 2828
04/29/13 90.00 1.41859657% 127.67 2822
04/30/13 (3,479.91)1.41842080% (4,935.98) 2821
05/03/13 6,051.06 1.41789364% 8,579.76 2818
05/07/13 125,539.50 1.41719106% 177,913.46 2814
05/14/13 180.00 1.41596239% 254.87 2807
05/15/13 282.92 1.41578695% 400.55 2806
05/17/13 3,490.20 1.41543614% 4,940.16 2804
05/21/13 35,352.83 1.41473478% 50,014.88 2800
05/28/13 1,079.16 1.41350823% 1,525.40 2793
05/31/13 165,816.00 1.41315799% 234,324.20 2791
06/04/13 842.41 1.41245775% 1,189.87 2787
06/06/13 232.38 1.41210777% 328.15 2785
06/11/13 27,445.13 1.41123318% 38,731.48 2780
06/14/13 1,585,913.90 1.41070869% 2,237,262.52 2777
06/17/13 216.40 1.41018440% 305.16 2774
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 6 of 6
Control # 8.00
PAR $8,000,000.00 EXHIBIT 1
Period 03/01/11 to 03/01/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
06/18/13 31,678.91 1.41000967% 44,667.57 2773
03/01/14 (1,620.00)1.36649336% Computation Date Credit (2,213.72) 2520
Liability (415,658.97)236,271.04
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 8.00
PAR $8,000,000.00 EXHIBIT 2
Period 03/01/11 to 03/01/21
Listing of Investments by Fund
Debt Service Fund
BNY - 42596 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 Through 3/1/21
Project Proceeds
General Ledger - Fund 460 101.100 Expenditures of the Fund have been allocated based on a First In, First Out methodolgy.
Wells Fargo
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 5
Control # 8.00
PAR $8,000,000.00 EXHIBIT 3
Period 03/01/11 to 03/01/21
Proof of Investment Yield
Investment Yield 2.10692186%
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/01/11 (8,008,543.64) 1.23317253%(9,875,916.00)229,047.21 1.23317253%282,454.73
03/15/11 1.23216781%3,936.03 1.23216781%4,849.85
03/19/11 1.23188090%2,999.35 1.23188090%3,694.84
03/23/11 1.23159406%70,197.82 1.23159406%86,455.22
03/29/11 1.23116391%75,259.18 1.23116391%92,656.39
03/31/11 1.23109224%2,999.35 1.23109224%3,692.48
04/05/11 1.23073392%2,100.00 1.23073392%2,584.54
04/11/11 1.23030408%89.00 1.23030408%109.50
04/12/11 1.23023246%289.10 1.23023246%355.66
04/16/11 1.22994600%8,780.64 1.22994600%10,799.71
04/19/11 1.22973119%46.00 1.22973119%56.57
04/30/11 (2,516.18) 1.22894391%(3,092.24)1.22894391%
05/10/11 1.22822863%97,124.15 1.22822863%119,290.66
05/14/11 1.22794264%2,214.11 1.22794264%2,718.80
05/28/11 1.22694218%4,723.62 1.22694218%5,795.61
05/31/11 (39,495.49) 1.22679933%(48,453.04)14,103.07 1.22679933%17,301.64
06/02/11 1.22665649%1,400.00 1.22665649%1,717.32
06/07/11 1.22629946%149.17 1.22629946%182.93
06/11/11 1.22601392%813.20 1.22601392%996.99
06/17/11 1.22558573%2,300.00 1.22558573%2,818.85
06/22/11 1.22522901%57,272.86 1.22522901%70,172.37
06/25/11 1.22501504%4,585.54 1.22501504%5,617.36
06/30/11 (13,001.76) 1.22465849%(15,922.72)106,237.33 1.22465849%130,104.45
07/05/11 1.22430205%216.40 1.22430205%264.94
07/09/11 1.22401697%2,956.19 1.22401697%3,618.43
07/14/11 1.22366071%130,506.92 1.22366071%159,696.19
07/15/11 1.22358947%216.40 1.22358947%264.78
07/23/11 1.22301971%1,603.32 1.22301971%1,960.89
07/28/11 1.22266374%64,277.47 1.22266374%78,589.73
07/29/11 1.22259256%105.77 1.22259256%129.31
07/31/11 (33,578.81) 1.22252139%(41,050.81)11,973.35 1.22252139%14,637.68
08/06/11 1.22209441%3,461.13 1.22209441%4,229.83
08/10/11 1.22180985%304.25 1.22180985%371.74
08/11/11 1.22173872%5,250.00 1.22173872%6,414.13
08/17/11 1.22131202%92.08 1.22131202%112.46
08/20/11 1.22109872%2,710.53 1.22109872%3,309.82
08/31/11 (38,455.96) 1.22038801%(46,931.19)10,412.91 1.22038801%12,707.79
09/03/11 1.22017488%4,619.38 1.22017488%5,636.45
09/15/11 1.21932272%131,848.19 1.21932272%160,765.49
09/17/11 (7,017.07) 1.21918075%(8,555.08)7,017.07 1.21918075%8,555.08
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 5
Control # 8.00
PAR $8,000,000.00 EXHIBIT 3
Period 03/01/11 to 03/01/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
09/23/11 1.21875495%225.21 1.21875495%274.48
09/27/11 (130,331.48) 1.21847116%(158,805.15)1.21847116%
09/29/11 1.21832929%137,745.91 1.21832929%167,819.88
09/30/11 (12,328.61) 1.21825836%(15,019.43)25,479.45 1.21825836%31,040.55
10/01/11 1.21818744%11,412.80 1.21818744%13,902.93
10/06/11 1.21783288%104.37 1.21783288%127.11
10/15/11 1.21719493%3,636.48 1.21719493%4,426.31
10/17/11 1.21705321%34,416.52 1.21705321%41,886.74
10/20/11 (13,239.77) 1.21684066%(16,110.69)1.21684066%
10/28/11 1.21627404%120.00 1.21627404%145.95
10/29/11 1.21620323%4,198.05 1.21620323%5,105.68
10/30/11 (48,035.14) 1.21613243%(58,417.09)48,035.14 1.21613243%58,417.09
10/31/11 (54,842.22) 1.21613243%(66,695.40)72,540.01 1.21613243%88,218.26
11/09/11 1.21549537%1,992.35 1.21549537%2,421.69
11/10/11 1.21542461%150,342.58 1.21542461%182,730.07
11/12/11 (4,991.27) 1.21528309%(6,065.81)4,991.27 1.21528309%6,065.81
11/15/11 1.21507085%216.40 1.21507085%262.94
11/30/11 (23,454.90) 1.21401020%(28,474.49)14,073.34 1.21401020%17,085.18
12/02/11 1.21386885%4,991.27 1.21386885%6,058.75
12/08/11 1.21344490%1,560.00 1.21344490%1,892.97
12/15/11 1.21295048%134,217.97 1.21295048%162,799.75
12/16/11 (4,100.29) 1.21287987%(4,973.16)4,100.29 1.21287987%4,973.16
12/22/11 1.21245626%3,440.48 1.21245626%4,171.43
12/30/11 (9,742.41) 1.21189168%(11,806.75)9,742.41 1.21189168%11,806.75
12/31/11 (19,333.41) 1.21189168%(23,430.00)24,026.83 1.21189168%29,117.92
01/06/12 1.21146842%218,718.42 1.21146842%264,970.46
01/10/12 1.21118633%242.13 1.21118633%293.26
01/11/12 (4,315.68) 1.21111582%(5,226.79)1.21111582%
01/13/12 (4,315.68) 1.21097481%(5,226.18)1.21097481%
01/17/12 1.21069283%216.40 1.21069283%261.99
01/27/12 1.20998818%18,970.12 1.20998818%22,953.62
01/31/12 (33,004.95) 1.20977686%(39,928.62)18,475.85 1.20977686%22,351.66
02/02/12 1.20963600%3,848.16 1.20963600%4,654.87
02/03/12 1.20956558%4,415.86 1.20956558%5,341.27
02/10/12 1.20907274%4,202.60 1.20907274%5,081.25
02/13/12 1.20886158%350.00 1.20886158%423.10
02/15/12 1.20872083%216.40 1.20872083%261.57
02/17/12 1.20858010%24,899.29 1.20858010%30,092.79
02/24/12 1.20808766%411,157.68 1.20808766%496,714.52
02/29/12 (20,079.44) 1.20773604%(24,250.66)14,273.02 1.20773604%17,238.04
03/06/12 1.20724394%147,496.46 1.20724394%178,064.21
03/08/12 1.20710338%31.47 1.20710338%37.99
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 5
Control # 8.00
PAR $8,000,000.00 EXHIBIT 3
Period 03/01/11 to 03/01/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/09/12 1.20703310%6,304.03 1.20703310%7,609.17
03/13/12 1.20675205%114.25 1.20675205%137.87
03/15/12 1.20661154%216.40 1.20661154%261.11
03/20/12 1.20626035%372,050.14 1.20626035%448,789.33
03/23/12 1.20604969%5,311.12 1.20604969%6,405.47
03/27/12 1.20576886%146.14 1.20576886%176.21
03/31/12 (37,423.97) 1.20555828%(45,116.78)63,154.74 1.20555828%76,136.72
04/06/12 1.20513723%19,296.45 1.20513723%23,254.87
04/09/12 1.20492676%916.62 1.20492676%1,104.46
04/10/12 1.20485661%323,077.05 1.20485661%389,261.52
04/15/12 1.20450593%216.40 1.20450593%260.66
04/17/12 1.20436569%57.50 1.20436569%69.25
04/20/12 1.20415535%4,234.65 1.20415535%5,099.18
04/30/12 (11,136.10) 1.20345451%(13,401.79)11,790.12 1.20345451%14,188.87
05/01/12 1.20338444%27,587.10 1.20338444%33,197.89
05/04/12 (833.00) 1.20317428%(1,002.24)5,833.78 1.20317428%7,019.05
05/09/12 1.20282409%109,717.21 1.20282409%131,970.50
05/15/12 1.20240400%291.86 1.20240400%350.93
05/18/12 1.20219400%2,701.61 1.20219400%3,247.86
05/22/12 1.20191407%473.03 1.20191407%568.54
05/29/12 1.20142435%363,407.60 1.20142435%436,606.74
05/31/12 (15,546.76) 1.20135440%(18,677.17)13,465.54 1.20135440%16,176.89
06/01/12 1.20128446%4,775.09 1.20128446%5,736.24
06/05/12 1.20100474%925,178.44 1.20100474%1,111,143.70
06/08/12 1.20079500%1,211.21 1.20079500%1,454.41
06/12/12 1.20051539%1,331.52 1.20051539%1,598.51
06/15/12 1.20030573%3,494.95 1.20030573%4,195.01
06/19/12 1.20002624%41,265.00 1.20002624%49,519.08
06/26/12 1.19953728%1,206.00 1.19953728%1,446.64
06/29/12 1.19932779%2,602.36 1.19932779%3,121.08
06/30/12 (9,418.66) 1.19925797%(11,295.40)22,012.34 1.19925797%26,398.47
07/03/12 1.19904853%3,380.00 1.19904853%4,052.78
07/10/12 1.19855997%125,472.72 1.19855997%150,386.58
07/16/12 1.19814137%216.40 1.19814137%259.28
07/24/12 1.19758346%7,375.00 1.19758346%8,832.18
07/27/12 1.19737431%2,441.54 1.19737431%2,923.44
07/31/12 (18,086.24) 1.19716519%(21,652.22)9,292.22 1.19716519%11,124.32
08/07/12 1.19667740%187,080.46 1.19667740%223,874.96
08/09/12 (76.73) 1.19653807%(91.81)352.41 1.19653807%421.67
08/10/12 1.19646841%4,199.35 1.19646841%5,024.39
08/14/12 1.19618981%69.62 1.19618981%83.28
08/15/12 1.19612017%292.75 1.19612017%350.16
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 5
Control # 8.00
PAR $8,000,000.00 EXHIBIT 3
Period 03/01/11 to 03/01/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
08/24/12 1.19549360%2,523.57 1.19549360%3,016.91
08/30/12 (8,755.65) 1.19507607%(10,463.67)8,755.65 1.19507607%10,463.67
08/31/12 (5,090.06) 1.19507607%(6,083.01)11,574.28 1.19507607%13,832.15
09/04/12 1.19479779%465.66 1.19479779%556.37
09/07/12 1.19458913%2,518.39 1.19458913%3,008.44
09/10/12 1.19438050%131,021.09 1.19438050%156,489.04
09/11/12 1.19431097%216,628.57 1.19431097%258,721.88
09/15/12 1.19403287%2,412.06 1.19403287%2,880.08
09/17/12 1.19389385%216.40 1.19389385%258.36
09/25/12 1.19333791%7,828.05 1.19333791%9,341.51
09/26/12 1.19326844%8,775.00 1.19326844%10,470.93
10/02/12 1.19285168%1,225.00 1.19285168%1,461.24
10/05/12 1.19264336%2,826.46 1.19264336%3,370.96
10/09/12 (65.60) 1.19236565%(78.22)4,775.84 1.19236565%5,694.55
10/15/12 1.19194921%216.40 1.19194921%257.94
10/16/12 1.19187982%72.41 1.19187982%86.30
10/19/12 1.19167167%2,509.43 1.19167167%2,990.42
10/23/12 1.19139418%10,666.43 1.19139418%12,707.92
10/30/12 1.19090875%329,632.74 1.19090875%392,562.51
10/31/12 (6,452.21) 1.19090875%(7,683.99)9,006.40 1.19090875%10,725.80
11/02/12 1.19077009%4,496.88 1.19077009%5,354.75
11/07/12 (5.67) 1.19042351%(6.75)1.19042351%
11/13/12 1.19000774%85,797.37 1.19000774%102,099.53
11/15/12 1.18986919%216.40 1.18986919%257.49
11/16/12 1.18979992%3,880.66 1.18979992%4,617.21
11/30/12 (9,108.00) 1.18883054%(10,827.87)12,057.30 1.18883054%14,334.09
12/11/12 1.18806944%35,914.61 1.18806944%42,669.05
12/14/12 1.18786195%5,251.69 1.18786195%6,238.28
12/17/12 1.18765450%516.40 1.18765450%613.30
12/18/12 1.18758536%4,500.00 1.18758536%5,344.13
12/28/12 1.18689415%4,174.32 1.18689415%4,954.48
12/31/12 (5,617.97) 1.18675596%(6,667.16)16,525.29 1.18675596%19,611.49
01/08/13 1.18620335%21,749.00 1.18620335%25,798.74
01/11/13 1.18599619%7,441.22 1.18599619%8,825.26
01/15/13 1.18572003%37,184.78 1.18572003%44,090.74
01/22/13 1.18523690%1,000.00 1.18523690%1,185.24
01/24/13 1.18509890%210,257.17 1.18509890%249,175.54
01/25/13 1.18502991%5,926.76 1.18502991%7,023.39
01/29/13 1.18475397%7,036.44 1.18475397%8,336.45
01/31/13 (4,857.53) 1.18468500%(5,754.64)9,427.14 1.18468500%11,168.19
02/05/13 1.18434019%11,725.19 1.18434019%13,886.61
02/07/13 (3,000.00) 1.18420229%(3,552.61)332.02 1.18420229%393.18
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 5 of 5
Control # 8.00
PAR $8,000,000.00 EXHIBIT 3
Period 03/01/11 to 03/01/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
02/08/13 1.18413335%5,294.70 1.18413335%6,269.63
02/12/13 1.18385763%2,971.53 1.18385763%3,517.87
02/15/13 1.18365087%216.40 1.18365087%256.14
02/19/13 1.18337526%18,451.47 1.18337526%21,835.01
02/22/13 (0.56) 1.18316859%(0.66)4,865.04 1.18316859%5,756.16
02/28/13 (10,430.69) 1.18275536%(12,336.95)9,061.10 1.18275536%10,717.06
03/08/13 1.18206697%3,487.04 1.18206697%4,121.91
03/11/13 1.18186053%42.40 1.18186053%50.11
03/12/13 1.18179172%59.28 1.18179172%70.06
03/15/13 1.18158533%216.40 1.18158533%255.70
03/19/13 1.18131020%9,480.90 1.18131020%11,199.88
03/21/13 1.18117266%178,326.82 1.18117266%210,634.76
03/22/13 1.18110389%4,654.90 1.18110389%5,497.92
03/31/13 (4,829.08) 1.18055391%(5,700.99)49,676.50 1.18055391%58,645.78
04/02/13 1.18041646%10,875.00 1.18041646%12,837.03
04/05/13 1.18021031%5,432.63 1.18021031%6,411.65
04/09/13 1.17993549%8,511.00 1.17993549%10,042.43
04/15/13 1.17952339%216.40 1.17952339%255.25
04/16/13 1.17945473%12,259.24 1.17945473%14,459.22
04/19/13 1.17924874%5,053.56 1.17924874%5,959.40
04/22/13 (163.13) 1.17904279%(192.34)1.17904279%
04/23/13 1.17897415%70,735.34 1.17897415%83,395.14
04/29/13 1.17856239%90.00 1.17856239%106.07
04/30/13 (6,573.58) 1.17849378%(7,746.92)3,093.67 1.17849378%3,645.87
05/03/13 1.17828796%6,051.06 1.17828796%7,129.89
05/07/13 1.17801359%125,539.50 1.17801359%147,887.24
05/14/13 (30.00) 1.17753361%(35.33)210.00 1.17753361%247.28
05/15/13 1.17746506%282.92 1.17746506%333.13
05/17/13 1.17732796%3,490.20 1.17732796%4,109.11
05/21/13 1.17705382%35,352.83 1.17705382%41,612.18
05/28/13 1.17657422%1,079.16 1.17657422%1,269.71
05/31/13 (7,809.37) 1.17643723%(9,187.24)173,625.37 1.17643723%204,259.35
06/04/13 1.17616330%842.41 1.17616330%990.81
06/06/13 (232.38) 1.17602636%(273.29)464.76 1.17602636%546.57
06/11/13 1.17568407%27,445.13 1.17568407%32,266.80
06/14/13 1.17547874%1,585,913.90 1.17547874%1,864,208.08
06/17/13 1.17527345%216.40 1.17527345%254.33
06/18/13 1.17520503%31,678.91 1.17520503%37,229.21
06/30/13 (1,391.35) 1.17438428%(1,633.98)1,391.35 1.17438428%1,633.98
(8,691,658.44)(10,703,814.31) 8,932,689.48 10,703,814.31
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 4
Control # 8.00
PAR $8,000,000.00 EXHIBIT 4
Period 03/01/11 to 03/01/21
Investment Detail - Project Proceeds - General Ledger - Fund 460 101.100
Wells Fargo
Net 241,031.04 Yield 2.10683033%
Alloc. $Alloc. %Type100% $ Date
03/01/11 Balance Start (8,008,543.64)100.00000%(8,008,543.64)
03/01/11 Maturity 229,047.21100.00000%229,047.21
03/15/11 Maturity 3,936.03100.00000%3,936.03
03/19/11 Maturity 2,999.35100.00000%2,999.35
03/23/11 Maturity 70,197.82100.00000%70,197.82
03/29/11 Maturity 75,259.18100.00000%75,259.18
03/31/11 Maturity 2,999.35100.00000%2,999.35
04/05/11 Maturity 2,100.00100.00000%2,100.00
04/11/11 Maturity 89.00100.00000%89.00
04/12/11 Maturity 289.10100.00000%289.10
04/16/11 Maturity 8,780.64100.00000%8,780.64
04/19/11 Maturity 46.00100.00000%46.00
04/30/11 Principal (2,516.18)100.00000%(2,516.18)
05/10/11 Maturity 97,124.15100.00000%97,124.15
05/14/11 Maturity 2,214.11100.00000%2,214.11
05/28/11 Maturity 4,723.62100.00000%4,723.62
05/31/11 Principal (14,103.07)100.00000%(14,103.07)
05/31/11 Principal (25,392.42)100.00000%(25,392.42)
05/31/11 Interest 14,103.07100.00000%14,103.07
06/02/11 Maturity 1,400.00100.00000%1,400.00
06/07/11 Maturity 149.17100.00000%149.17
06/11/11 Maturity 813.20100.00000%813.20
06/17/11 Maturity 2,300.00100.00000%2,300.00
06/22/11 Maturity 57,272.86100.00000%57,272.86
06/25/11 Maturity 4,585.54100.00000%4,585.54
06/30/11 Principal (13,001.76)100.00000%(13,001.76)
06/30/11 Interest 13,001.76100.00000%13,001.76
06/30/11 Maturity 38,335.63100.00000%38,335.63
06/30/11 Maturity 54,899.94100.00000%54,899.94
07/05/11 Maturity 216.40100.00000%216.40
07/09/11 Maturity 2,956.19100.00000%2,956.19
07/14/11 Maturity 130,506.92100.00000%130,506.92
07/15/11 Maturity 216.40100.00000%216.40
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
07/23/11 Maturity 1,603.32100.00000%1,603.32
07/28/11 Maturity 64,277.47100.00000%64,277.47
07/29/11 Maturity 105.77100.00000%105.77
07/31/11 Principal (21,605.46)100.00000%(21,605.46)
07/31/11 Principal (11,973.35)100.00000%(11,973.35)
07/31/11 Interest 11,973.35100.00000%11,973.35
08/06/11 Maturity 3,461.13100.00000%3,461.13
08/10/11 Maturity 304.25100.00000%304.25
08/11/11 Maturity 5,250.00100.00000%5,250.00
08/17/11 Maturity 92.08100.00000%92.08
08/20/11 Maturity 2,710.53100.00000%2,710.53
08/31/11 Principal (28,043.05)100.00000%(28,043.05)
08/31/11 Principal (10,412.91)100.00000%(10,412.91)
08/31/11 Interest 10,412.91100.00000%10,412.91
09/03/11 Maturity 4,619.38100.00000%4,619.38
09/15/11 Maturity 216.40100.00000%216.40
09/15/11 Maturity 131,631.79100.00000%131,631.79
09/17/11 Principal (7,017.07)100.00000%(7,017.07)
09/17/11 Maturity 7,017.07100.00000%7,017.07
09/23/11 Maturity 225.21100.00000%225.21
09/27/11 Principal (130,331.48)100.00000%(130,331.48)
09/29/11 Maturity 137,745.91100.00000%137,745.91
09/30/11 Principal (12,328.61)100.00000%(12,328.61)
09/30/11 Interest 12,328.61100.00000%12,328.61
09/30/11 Maturity 6,133.77100.00000%6,133.77
09/30/11 Maturity 7,017.07100.00000%7,017.07
10/01/11 Maturity 11,412.80100.00000%11,412.80
10/06/11 Maturity 104.37100.00000%104.37
10/15/11 Maturity 3,636.48100.00000%3,636.48
10/17/11 Maturity 216.40100.00000%216.40
10/17/11 Maturity 34,200.12100.00000%34,200.12
10/20/11 Principal (13,239.77)100.00000%(13,239.77)
10/28/11 Maturity 120.00100.00000%120.00
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
10/29/11 Maturity 4,198.05100.00000%4,198.05
10/30/11 Principal 48,035.14100.00000%48,035.14
10/30/11 Interest (48,035.14)100.00000%(48,035.14)
10/31/11 Principal (54,842.22)100.00000%(54,842.22)
10/31/11 Interest 54,842.22100.00000%54,842.22
10/31/11 Maturity 17,697.79100.00000%17,697.79
11/09/11 Maturity 585.32100.00000%585.32
11/09/11 Maturity 1,407.03100.00000%1,407.03
11/10/11 Maturity 150,342.58100.00000%150,342.58
11/12/11 Principal (4,991.27)100.00000%(4,991.27)
11/12/11 Maturity 4,991.27100.00000%4,991.27
11/15/11 Maturity 216.40100.00000%216.40
11/30/11 Principal (9,381.56)100.00000%(9,381.56)
11/30/11 Principal (14,073.34)100.00000%(14,073.34)
11/30/11 Interest 14,073.34100.00000%14,073.34
12/02/11 Maturity 4,991.27100.00000%4,991.27
12/08/11 Maturity 1,560.00100.00000%1,560.00
12/15/11 Maturity 216.40100.00000%216.40
12/15/11 Maturity 134,001.57100.00000%134,001.57
12/16/11 Principal (4,100.29)100.00000%(4,100.29)
12/16/11 Maturity 4,100.29100.00000%4,100.29
12/22/11 Maturity 3,440.48100.00000%3,440.48
12/30/11 Principal (9,742.41)100.00000%(9,742.41)
12/30/11 Maturity 9,742.41100.00000%9,742.41
12/31/11 Principal (5,048.99)100.00000%(5,048.99)
12/31/11 Principal (14,284.42)100.00000%(14,284.42)
12/31/11 Interest 14,284.42100.00000%14,284.42
12/31/11 Maturity 9,742.41100.00000%9,742.41
01/06/12 Maturity 218,718.42100.00000%218,718.42
01/10/12 Maturity 242.13100.00000%242.13
01/11/12 Principal (4,315.68)100.00000%(4,315.68)
01/13/12 Principal (4,315.68)100.00000%(4,315.68)
01/17/12 Maturity 216.40100.00000%216.40
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 2 of 4
Control # 8.00
PAR $8,000,000.00 EXHIBIT 4
Period 03/01/11 to 03/01/21
Investment Detail - Project Proceeds - General Ledger - Fund 460 101.100
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
01/27/12 Maturity 18,970.12100.00000%18,970.12
01/31/12 Principal (12,297.61)100.00000%(12,297.61)
01/31/12 Principal (2,231.49)100.00000%(2,231.49)
01/31/12 Principal (18,475.85)100.00000%(18,475.85)
01/31/12 Interest 18,475.85100.00000%18,475.85
02/02/12 Maturity 3,848.16100.00000%3,848.16
02/03/12 Maturity 4,415.86100.00000%4,415.86
02/10/12 Maturity 123.26100.00000%123.26
02/10/12 Maturity 4,079.34100.00000%4,079.34
02/13/12 Maturity 350.00100.00000%350.00
02/15/12 Maturity 216.40100.00000%216.40
02/17/12 Maturity 24,899.29100.00000%24,899.29
02/24/12 Maturity 3,886.21100.00000%3,886.21
02/24/12 Maturity 407,271.47100.00000%407,271.47
02/29/12 Principal (8,437.15)100.00000%(8,437.15)
02/29/12 Principal (11,642.29)100.00000%(11,642.29)
02/29/12 Interest 11,642.29100.00000%11,642.29
02/29/12 Maturity 10.49100.00000%10.49
02/29/12 Maturity 150.00100.00000%150.00
02/29/12 Maturity 2,470.24100.00000%2,470.24
03/06/12 Maturity 27.97100.00000%27.97
03/06/12 Maturity 147,468.49100.00000%147,468.49
03/08/12 Maturity 31.47100.00000%31.47
03/09/12 Maturity 6,304.03100.00000%6,304.03
03/13/12 Maturity 114.25100.00000%114.25
03/15/12 Maturity 216.40100.00000%216.40
03/20/12 Maturity 372,050.14100.00000%372,050.14
03/23/12 Maturity 5,311.12100.00000%5,311.12
03/27/12 Maturity 146.14100.00000%146.14
03/31/12 Principal (25,730.77)100.00000%(25,730.77)
03/31/12 Principal (11,693.20)100.00000%(11,693.20)
03/31/12 Interest 11,693.20100.00000%11,693.20
03/31/12 Maturity 25,730.77100.00000%25,730.77
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
03/31/12 Maturity 25,730.77100.00000%25,730.77
04/06/12 Maturity 6,713.45100.00000%6,713.45
04/06/12 Maturity 12,583.00100.00000%12,583.00
04/09/12 Maturity 916.62100.00000%916.62
04/10/12 Maturity 323,077.05100.00000%323,077.05
04/15/12 Maturity 216.40100.00000%216.40
04/17/12 Maturity 57.50100.00000%57.50
04/20/12 Maturity 4,234.65100.00000%4,234.65
04/30/12 Principal (11,136.10)100.00000%(11,136.10)
04/30/12 Interest 11,136.10100.00000%11,136.10
04/30/12 Maturity 82.08100.00000%82.08
04/30/12 Maturity 571.94100.00000%571.94
05/01/12 Maturity 27,587.10100.00000%27,587.10
05/04/12 Principal (833.00)100.00000%(833.00)
05/04/12 Maturity 5,833.78100.00000%5,833.78
05/09/12 Maturity 31.47100.00000%31.47
05/09/12 Maturity 109,685.74100.00000%109,685.74
05/15/12 Maturity 75.46100.00000%75.46
05/15/12 Maturity 216.40100.00000%216.40
05/18/12 Maturity 2,701.61100.00000%2,701.61
05/22/12 Maturity 473.03100.00000%473.03
05/29/12 Maturity 363,407.60100.00000%363,407.60
05/31/12 Principal (2,081.22)100.00000%(2,081.22)
05/31/12 Principal (2,081.22)100.00000%(2,081.22)
05/31/12 Principal (11,384.32)100.00000%(11,384.32)
05/31/12 Interest 11,384.32100.00000%11,384.32
05/31/12 Maturity 2,081.22100.00000%2,081.22
06/01/12 Maturity 4,775.09100.00000%4,775.09
06/05/12 Maturity 925,178.44100.00000%925,178.44
06/08/12 Maturity 55.97100.00000%55.97
06/08/12 Maturity 486.50100.00000%486.50
06/08/12 Maturity 668.74100.00000%668.74
06/12/12 Maturity 1,331.52100.00000%1,331.52
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
06/15/12 Maturity 216.40100.00000%216.40
06/15/12 Maturity 3,278.55100.00000%3,278.55
06/19/12 Maturity 41,265.00100.00000%41,265.00
06/26/12 Maturity 1,206.00100.00000%1,206.00
06/29/12 Maturity 2,602.36100.00000%2,602.36
06/30/12 Principal (9,418.66)100.00000%(9,418.66)
06/30/12 Interest 9,418.66100.00000%9,418.66
06/30/12 Maturity 12,593.68100.00000%12,593.68
07/03/12 Maturity 3,380.00100.00000%3,380.00
07/10/12 Maturity 922.32100.00000%922.32
07/10/12 Maturity 124,550.40100.00000%124,550.40
07/16/12 Maturity 216.40100.00000%216.40
07/24/12 Maturity 7,375.00100.00000%7,375.00
07/27/12 Maturity 2,441.54100.00000%2,441.54
07/31/12 Principal (8,794.02)100.00000%(8,794.02)
07/31/12 Principal (9,292.22)100.00000%(9,292.22)
07/31/12 Interest 9,292.22100.00000%9,292.22
08/07/12 Maturity 187,080.46100.00000%187,080.46
08/09/12 Principal (76.73)100.00000%(76.73)
08/09/12 Maturity 76.73100.00000%76.73
08/09/12 Maturity 76.73100.00000%76.73
08/09/12 Maturity 198.95100.00000%198.95
08/10/12 Maturity 4,199.35100.00000%4,199.35
08/14/12 Maturity 69.62100.00000%69.62
08/15/12 Maturity 76.35100.00000%76.35
08/15/12 Maturity 216.40100.00000%216.40
08/24/12 Maturity 2,523.57100.00000%2,523.57
08/30/12 Principal (8,755.65)100.00000%(8,755.65)
08/30/12 Interest 8,755.65100.00000%8,755.65
08/31/12 Principal (5,090.06)100.00000%(5,090.06)
08/31/12 Interest 5,090.06100.00000%5,090.06
08/31/12 Maturity 3,121.10100.00000%3,121.10
08/31/12 Maturity 3,363.12100.00000%3,363.12
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 3 of 4
Control # 8.00
PAR $8,000,000.00 EXHIBIT 4
Period 03/01/11 to 03/01/21
Investment Detail - Project Proceeds - General Ledger - Fund 460 101.100
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
09/04/12 Maturity 465.66100.00000%465.66
09/07/12 Maturity 2,518.39100.00000%2,518.39
09/10/12 Maturity 131,021.09100.00000%131,021.09
09/11/12 Maturity 216,628.57100.00000%216,628.57
09/15/12 Maturity 2,412.06100.00000%2,412.06
09/17/12 Maturity 216.40100.00000%216.40
09/25/12 Maturity 7,828.05100.00000%7,828.05
09/26/12 Maturity 8,775.00100.00000%8,775.00
10/02/12 Maturity 1,225.00100.00000%1,225.00
10/05/12 Maturity 2,826.46100.00000%2,826.46
10/09/12 Principal (65.60)100.00000%(65.60)
10/09/12 Maturity 30.24100.00000%30.24
10/09/12 Maturity 65.60100.00000%65.60
10/09/12 Maturity 4,680.00100.00000%4,680.00
10/15/12 Maturity 216.40100.00000%216.40
10/16/12 Maturity 72.41100.00000%72.41
10/19/12 Maturity 2,509.43100.00000%2,509.43
10/23/12 Maturity 10,666.43100.00000%10,666.43
10/30/12 Maturity 329,632.74100.00000%329,632.74
10/31/12 Principal (6,452.21)100.00000%(6,452.21)
10/31/12 Interest 6,452.21100.00000%6,452.21
10/31/12 Maturity 2,554.19100.00000%2,554.19
11/02/12 Maturity 4,496.88100.00000%4,496.88
11/07/12 Principal (5.67)100.00000%(5.67)
11/13/12 Maturity 85,797.37100.00000%85,797.37
11/15/12 Maturity 216.40100.00000%216.40
11/16/12 Maturity 3,880.66100.00000%3,880.66
11/30/12 Principal (9,108.00)100.00000%(9,108.00)
11/30/12 Interest 9,108.00100.00000%9,108.00
11/30/12 Maturity 2,949.30100.00000%2,949.30
12/11/12 Maturity 35,914.61100.00000%35,914.61
12/14/12 Maturity 5,251.69100.00000%5,251.69
12/17/12 Maturity 216.40100.00000%216.40
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
12/17/12 Maturity 300.00100.00000%300.00
12/18/12 Maturity 4,500.00100.00000%4,500.00
12/28/12 Maturity 4,174.32100.00000%4,174.32
12/31/12 Principal (5,617.97)100.00000%(5,617.97)
12/31/12 Interest 5,617.97100.00000%5,617.97
12/31/12 Maturity 10,907.32100.00000%10,907.32
01/08/13 Maturity 21,749.00100.00000%21,749.00
01/11/13 Maturity 7,441.22100.00000%7,441.22
01/15/13 Maturity 216.40100.00000%216.40
01/15/13 Maturity 36,968.38100.00000%36,968.38
01/22/13 Maturity 1,000.00100.00000%1,000.00
01/24/13 Maturity 210,257.17100.00000%210,257.17
01/25/13 Maturity 5,926.76100.00000%5,926.76
01/29/13 Maturity 7,036.44100.00000%7,036.44
01/31/13 Principal (4,857.53)100.00000%(4,857.53)
01/31/13 Interest 4,857.53100.00000%4,857.53
01/31/13 Maturity 4,569.61100.00000%4,569.61
02/05/13 Maturity 11,725.19100.00000%11,725.19
02/07/13 Principal (1,000.00)100.00000%(1,000.00)
02/07/13 Principal (1,000.00)100.00000%(1,000.00)
02/07/13 Principal (1,000.00)100.00000%(1,000.00)
02/07/13 Maturity 38.95100.00000%38.95
02/07/13 Maturity 12.77100.00000%12.77
02/07/13 Maturity 33.20100.00000%33.20
02/07/13 Maturity 247.10100.00000%247.10
02/08/13 Maturity 5,294.70100.00000%5,294.70
02/12/13 Maturity 2,971.53100.00000%2,971.53
02/15/13 Maturity 216.40100.00000%216.40
02/19/13 Maturity 18,451.47100.00000%18,451.47
02/22/13 Principal (0.56)100.00000%(0.56)
02/22/13 Maturity 4,865.04100.00000%4,865.04
02/28/13 Principal (1,619.59)100.00000%(1,619.59)
02/28/13 Principal (8,811.10)100.00000%(8,811.10)
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
02/28/13 Interest 8,811.10100.00000%8,811.10
02/28/13 Maturity 250.00100.00000%250.00
03/08/13 Maturity 3,487.04100.00000%3,487.04
03/11/13 Maturity 42.40100.00000%42.40
03/12/13 Maturity 59.28100.00000%59.28
03/15/13 Maturity 216.40100.00000%216.40
03/19/13 Maturity 9,480.90100.00000%9,480.90
03/21/13 Maturity 178,326.82100.00000%178,326.82
03/22/13 Maturity 4,654.90100.00000%4,654.90
03/31/13 Principal (4,829.08)100.00000%(4,829.08)
03/31/13 Interest 4,829.08100.00000%4,829.08
03/31/13 Maturity 44,847.42100.00000%44,847.42
04/02/13 Maturity 10,875.00100.00000%10,875.00
04/05/13 Maturity 5,432.63100.00000%5,432.63
04/09/13 Maturity 8,509.77100.00000%8,509.77
04/09/13 Maturity 1.23100.00000%1.23
04/15/13 Maturity 216.40100.00000%216.40
04/16/13 Maturity 12,259.24100.00000%12,259.24
04/19/13 Maturity 5,053.56100.00000%5,053.56
04/22/13 Principal (163.13)100.00000%(163.13)
04/23/13 Maturity 70,735.34100.00000%70,735.34
04/29/13 Maturity 90.00100.00000%90.00
04/30/13 Principal (3,479.91)100.00000%(3,479.91)
04/30/13 Principal (3,093.67)100.00000%(3,093.67)
04/30/13 Interest 3,093.67100.00000%3,093.67
05/03/13 Maturity 6,051.06100.00000%6,051.06
05/07/13 Maturity 125,539.50100.00000%125,539.50
05/14/13 Principal (30.00)100.00000%(30.00)
05/14/13 Maturity 90.00100.00000%90.00
05/14/13 Maturity 30.00100.00000%30.00
05/14/13 Maturity 90.00100.00000%90.00
05/15/13 Maturity 216.40100.00000%216.40
05/15/13 Maturity 66.52100.00000%66.52
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 4 of 4
Control # 8.00
PAR $8,000,000.00 EXHIBIT 4
Period 03/01/11 to 03/01/21
Investment Detail - Project Proceeds - General Ledger - Fund 460 101.100
Wells Fargo
Alloc. $Alloc. %Type100% $ Date
05/17/13 Maturity 3,490.20100.00000%3,490.20
05/21/13 Maturity 35,352.83100.00000%35,352.83
05/28/13 Maturity 1,079.16100.00000%1,079.16
05/31/13 Principal (4,812.13)100.00000%(4,812.13)
05/31/13 Principal (2,997.24)100.00000%(2,997.24)
05/31/13 Interest 2,997.24100.00000%2,997.24
05/31/13 Maturity 3,949.55100.00000%3,949.55
05/31/13 Maturity 164,557.33100.00000%164,557.33
05/31/13 Maturity 2,121.25100.00000%2,121.25
06/04/13 Maturity 842.41100.00000%842.41
06/06/13 Principal (232.38)100.00000%(232.38)
06/06/13 Maturity 232.38100.00000%232.38
06/06/13 Maturity 232.38100.00000%232.38
06/11/13 Maturity 27,445.13100.00000%27,445.13
06/14/13 Maturity 2,429.96100.00000%2,429.96
06/14/13 Maturity 5,224.94100.00000%5,224.94
06/14/13 Maturity 1,578,259.00100.00000%1,578,259.00
06/17/13 Maturity 216.40100.00000%216.40
06/18/13 Maturity 31,678.91100.00000%31,678.91
06/30/13 Principal (1,391.35)100.00000%(1,391.35)
06/30/13 Interest 1,391.35100.00000%1,391.35
Arbitrage Compliance Specialists, Inc.
Report 10th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 8.00
PAR $8,000,000.00 EXHIBIT 5
Period 03/01/11 to 03/01/21
Calculation Credits
Period 03/01/11 to 03/01/21
Date AmountTransaction Type
03/01/12 (1,550.00)Computation Date
03/01/13 (1,590.00)Computation Date
03/01/14 (1,620.00)Computation Date
Arbitrage Compliance Specialists, Inc.