Kodiak Island Borough, AK_Ctrl#15 5th Rebate_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 05TH YEAR COMPUTATION PERIOD
FEBRUARY 02, 2016 TO FEBRUARY 02, 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 #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 05TH YEAR COMPUTATION PERIOD
FEBRUARY 02, 2016 TO FEBRUARY 02, 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 10th Year IRS filing date is 60 days from February 02, 2026. 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 $7,010,000.00.
2. The Delivery Date of the Debt is February 02, 2016.
3. The Computation Date is February 02, 2021.
4. The Computation Period is February 02, 2016 to February 02, 2021.
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 ($205,715.48).
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 02/02/16 to 02/02/21
Bond Yield 2.47940000%
Investment Yield 1.04669834%
Liability ($205,715.48)
05th 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)1.13111952% (9,048,956.13) 1800
03/01/16 229,328.36 1.12887645% 258,883.39 1771
03/04/16 2,607.50 1.12864467% 2,942.94 1768
03/08/16 56,764.79 1.12833569% 64,049.74 1764
03/15/16 13,766.90 1.12779519% 15,526.24 1757
03/18/16 691.52 1.12756362% 779.73 1754
03/29/16 152,819.00 1.12671496% 172,183.45 1743
03/31/16 17,550.23 1.12663784% 19,772.75 1742
04/01/16 343.31 1.12656072% 386.76 1741
04/05/16 13,009.93 1.12625232% 14,652.46 1737
04/15/16 1,592.26 1.12548168% 1,792.06 1727
04/19/16 2,231.88 1.12517357% 2,511.25 1723
04/24/16 73.40 1.12478855% 82.56 1718
04/29/16 1,223.76 1.12440366% 1,376.00 1713
05/10/16 394,969.00 1.12355738% 443,770.33 1702
05/13/16 1,297.15 1.12332668% 1,457.12 1699
05/17/16 2,724.88 1.12301916% 3,060.09 1695
05/27/16 827.24 1.12225073% 928.37 1685
06/07/16 0.35 1.12148283% 0.39 1675
06/08/16 241.81 1.12140607% 271.17 1674
06/10/16 1,346.82 1.12125256% 1,510.13 1672
06/14/16 10,587.93 1.12094561% 11,868.49 1668
06/24/16 1,515.74 1.12017860% 1,697.90 1658
06/30/16 18,243.84 1.11971864% 20,427.97 1652
07/02/16 1,244.93 1.11956536% 1,393.78 1650
07/05/16 8,979.64 1.11933549% 10,051.23 1647
07/12/16 0.07 1.11879930% 0.08 1640
07/19/16 2,570.81 1.11826336% 2,874.84 1633
07/22/16 433.65 1.11803375% 484.84 1630
07/27/16 467.81 1.11765118% 522.85 1625
08/02/16 76,398.21 1.11726874% 85,357.33 1620
08/05/16 2,939.14 1.11703933% 3,283.13 1617
08/09/16 353,481.00 1.11673353% 394,744.09 1613
08/19/16 (601.86)1.11596940% (671.66) 1603
08/23/16 2,803.90 1.11566390% 3,128.21 1599
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 2 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
09/02/16 1,972.25 1.11497682% 2,199.01 1590
09/06/16 1,095.00 1.11467158% 1,220.57 1586
09/12/16 (1,070.00)1.11421389% (1,192.21) 1580
09/16/16 1,278.57 1.11390887% 1,424.21 1576
09/27/16 2,414.70 1.11307048% 2,687.73 1565
09/30/16 799.47 1.11284194% 889.68 1562
10/14/16 952.26 1.11177603% 1,058.70 1548
10/18/16 74,274.40 1.11147167% 82,553.89 1544
10/25/16 8,177.73 1.11093925% 9,084.96 1537
10/28/16 2,947.58 1.11071114% 3,273.91 1534
10/31/16 6,294.68 1.11055910% 6,990.61 1532
11/08/16 126,676.44 1.10995113% 140,604.66 1524
11/10/16 3,506.30 1.10979920% 3,891.29 1522
11/15/16 30,372.50 1.10941944% 33,695.84 1517
11/22/16 28,750.00 1.10888800% 31,880.53 1510
11/23/16 2,447.06 1.10881210% 2,713.33 1509
11/29/16 8,897.50 1.10835681% 9,861.60 1503
12/06/16 157,538.94 1.10782588% 174,525.71 1496
12/09/16 4,249.12 1.10759841% 4,706.32 1493
12/16/16 1,962.40 1.10706784% 2,172.51 1486
12/20/16 988.64 1.10676477% 1,094.19 1482
12/23/16 3,629.70 1.10653753% 4,016.40 1479
12/27/16 285,735.27 1.10623460% 316,090.24 1475
12/31/16 24,671.81 1.10600747% 27,287.21 1472
01/06/17 1,011.06 1.10555333% 1,117.78 1466
01/10/17 323.97 1.10525068% 358.07 1462
01/17/17 592.00 1.10472123% 653.99 1455
01/20/17 2,564.51 1.10449440% 2,832.49 1452
01/24/17 947.50 1.10419204% 1,046.22 1448
01/31/17 160.00 1.10373865% 176.60 1442
02/02/17 (1,670.00)1.10358756% Computation Date Credit (1,842.99) 1440
02/03/17 5,329.91 1.10351202% 5,881.62 1439
02/15/17 2,375.44 1.10260599% 2,619.17 1427
02/17/17 2,776.48 1.10245505% 3,060.94 1425
03/01/17 390.00 1.10139909% 429.55 1411
03/03/17 5,232.57 1.10124833% 5,762.36 1409
03/07/17 4,403.12 1.10094685% 4,847.60 1405
03/14/17 2,948.63 1.10041947% 3,244.73 1398
03/17/17 2,703.87 1.10019352% 2,974.78 1395
03/21/17 3,150.15 1.09989234% 3,464.83 1391
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 3 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
03/28/17 8,281.65 1.09936546% 9,104.56 1384
03/30/17 240.00 1.09921497% 263.81 1382
03/31/17 15,562.18 1.09921497% 17,106.18 1382
04/04/17 5,705.10 1.09891405% 6,269.41 1378
04/14/17 3,512.66 1.09816211% 3,857.47 1368
04/25/17 52,587.54 1.09733558% 57,706.18 1357
04/28/17 3,961.91 1.09711027% 4,346.65 1354
05/02/17 141,121.64 1.09680992% 154,783.62 1350
05/04/17 (42.84)1.09665978% (46.98) 1348
05/05/17 30.00 1.09658472% 32.90 1347
05/09/17 33,383.57 1.09628452% 36,597.89 1343
05/12/17 4,286.56 1.09605943% 4,698.32 1340
05/15/17 (7,122.34)1.09583438% (7,804.91) 1337
05/26/17 4,992.55 1.09500960% 5,466.89 1326
05/30/17 8,830.81 1.09470983% 9,667.17 1322
06/06/17 1,991.00 1.09426033% 2,178.67 1316
06/09/17 4,476.81 1.09403565% 4,897.79 1313
06/13/17 142,283.65 1.09373615% 155,620.77 1309
06/20/17 327,464.53 1.09321222% 357,988.23 1302
06/23/17 3,731.92 1.09298776% 4,078.94 1299
06/27/17 54.00 1.09268854% 59.01 1295
06/30/17 29,522.95 1.09246419% 32,252.77 1292
07/01/17 5,330.05 1.09238941% 5,822.49 1291
07/05/17 135,332.18 1.09209036% 147,794.97 1287
07/11/17 281,395.00 1.09164194% 307,182.58 1281
07/18/17 703.12 1.09111901% 767.19 1274
07/21/17 (2,386.35)1.09089498% (2,603.26) 1271
07/25/17 336,141.15 1.09059634% 366,594.31 1267
07/27/17 (42,877.66)1.09044705% (46,755.82) 1265
08/04/17 6,216.60 1.08992470% 6,775.63 1258
08/08/17 100,108.00 1.08962632% 109,080.31 1254
08/15/17 70,950.00 1.08910436% 77,271.95 1247
08/18/17 3,627.00 1.08888074% 3,949.37 1244
08/22/17 664,236.28 1.08858265% 723,076.09 1240
08/29/17 21,619.14 1.08806119% 23,522.95 1233
09/01/17 5,643.47 1.08791225% 6,139.60 1231
09/05/17 150,691.28 1.08761442% 163,894.01 1227
09/15/17 2,723.45 1.08687022% 2,960.04 1217
09/19/17 273,746.44 1.08657268% 297,445.40 1213
09/26/17 56,429.63 1.08605218% 61,285.52 1206
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 4 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
09/29/17 3,441.83 1.08582919% 3,737.24 1203
09/30/17 9,991.30 1.08575487% 10,848.10 1202
10/03/17 742.60 1.08553193% 806.12 1199
10/10/17 235.50 1.08501193% 255.52 1192
10/13/17 2,854.55 1.08478915% 3,096.58 1189
10/17/17 40,903.06 1.08449218% 44,359.05 1185
10/24/17 22,442.10 1.08397268% 24,326.62 1178
10/27/17 2,447.08 1.08375012% 2,652.02 1175
10/31/17 238.88 1.08352759% 258.83 1172
11/07/17 2,208.00 1.08300856% 2,391.28 1165
11/09/17 1,873.57 1.08286030% 2,028.81 1163
11/14/17 30,790.00 1.08248977% 33,329.86 1158
11/21/17 2,504.25 1.08197122% 2,709.53 1151
11/22/17 1,567.47 1.08189717% 1,695.84 1150
11/28/17 8,646.09 1.08145293% 9,350.34 1144
12/05/17 566.70 1.08093488% 612.57 1137
12/08/17 2,539.40 1.08071294% 2,744.36 1134
12/12/17 5,365.45 1.08041709% 5,796.92 1130
12/19/17 15,780.17 1.07989954% 17,041.00 1123
12/22/17 1,235.09 1.07967781% 1,333.50 1120
12/26/17 1,354.53 1.07938224% 1,462.06 1116
12/31/17 15,534.46 1.07908675% 16,763.03 1112
01/05/18 883.17 1.07871750% 952.69 1107
01/09/18 2,882.10 1.07842219% 3,108.12 1103
01/16/18 986.17 1.07790560% 1,063.00 1096
01/19/18 1,535.82 1.07768428% 1,655.13 1093
01/23/18 4,559.61 1.07738925% 4,912.47 1089
01/30/18 1,940.00 1.07687316% 2,089.13 1082
02/02/18 (1,700.00)1.07672574% Computation Date Credit (1,830.43) 1080
02/02/18 3,331.51 1.07672574% 3,587.12 1080
02/09/18 90.00 1.07620996% 96.86 1073
02/13/18 67,425.23 1.07591534% 72,543.84 1069
02/16/18 1,679.16 1.07569443% 1,806.26 1066
02/20/18 2,765.00 1.07539995% 2,973.48 1062
02/28/18 1,681.48 1.07481123% 1,807.27 1054
03/02/18 1,745.06 1.07451700% 1,875.10 1050
03/12/18 (1,661.74)1.07378175% (1,784.35) 1040
03/16/18 1,678.68 1.07348780% 1,802.04 1036
03/20/18 5,705.24 1.07319392% 6,122.83 1032
03/24/18 39.20 1.07290013% 42.06 1028
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 5 of 5
Control # 15.00
PAR $7,010,000.00 EXHIBIT 1
Period 02/02/16 to 02/02/21
Arbitrage Rebate Calculation
Period
Ending Relevant Cash Flow Future Value Factor Adjustment Investment Yield Present Value Factor Total Future Value
Days of
Period
03/27/18 6,780.46 1.07267983% 7,273.26 1025
03/30/18 2,166.58 1.07245958% 2,323.57 1022
03/31/18 15,976.70 1.07245958% 17,134.37 1022
04/03/18 559.00 1.07223938% 599.38 1019
04/10/18 2,637.00 1.07172575% 2,826.14 1012
04/13/18 2,846.80 1.07150570% 3,050.36 1009
04/17/18 59.00 1.07121236% 63.20 1005
04/24/18 8,219.02 1.07069922% 8,800.10 998
04/27/18 4,160.68 1.07047938% 4,453.92 995
05/01/18 16,603.83 1.07018633% 17,769.19 991
05/11/18 8,170.22 1.06945405% 8,737.67 981
05/15/18 9,217.96 1.06916128% 9,855.49 977
05/22/18 3,754.20 1.06864912% 4,011.92 970
05/25/18 1,685.47 1.06842970% 1,800.81 967
06/08/18 3,116.33 1.06747940% 3,326.62 954
06/19/18 43,101.47 1.06667596% 45,975.30 943
06/22/18 2,250.35 1.06645694% 2,399.90 940
06/26/18 221,162.91 1.06616499% 235,796.15 936
06/30/18 13,986.81 1.06587312% 14,908.16 932
07/06/18 4,250.27 1.06543546% 4,528.39 926
07/10/18 507,064.00 1.06514379% 540,096.07 922
07/17/18 12,702.25 1.06463356% 13,523.24 915
07/20/18 2,424.23 1.06441496% 2,580.39 912
07/24/18 437,753.76 1.06412357% 465,824.09 908
07/31/18 881.60 1.06368663% 937.75 902
08/03/18 3,968.14 1.06346823% 4,219.99 899
08/08/18 250.00 1.06310433% 265.78 894
08/14/18 283,232.00 1.06266781% 300,981.53 888
08/17/18 3,166.59 1.06244962% 3,364.34 885
08/21/18 845,688.85 1.06215876% 898,255.82 881
08/28/18 5,465.58 1.06164996% 5,802.53 874
09/28/18 173.41 1.05947214% 183.72 844
09/30/18 1,747.66 1.05932711% 1,851.34 842
10/02/18 14,172.94 1.05918210% 15,011.72 840
10/12/18 755.91 1.05845735% 800.10 830
10/16/18 77,394.96 1.05816759% 81,896.84 826
10/19/18 254,850.99 1.05795032% 269,619.69 823
02/02/19 (1,730.00)1.05051776% Computation Date Credit (1,817.40) 720
Liability (205,715.48)128,256.76
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 15.00
PAR $7,010,000.00 EXHIBIT 2
Period 02/02/16 to 02/02/21
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 methodolgy.
Wells Fargo (2/2/16 - 10/19/18)
General Ledger - Fund 470
Wells Fargo (2/2/16 - 8/28/18)
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 1 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
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) 1.05358480%(8,428,678.41)1.05358480%
02/29/16 (12,500.52) 1.05276019%(13,160.05)12,500.52 1.05276019%13,160.05
03/01/16 1.05269914%229,328.36 1.05269914%241,413.77
03/04/16 1.05260756%2,607.50 1.05260756%2,744.67
03/08/16 1.05248547%56,764.79 1.05248547%59,744.12
03/15/16 1.05227184%13,766.90 1.05227184%14,486.52
03/18/16 1.05218030%691.52 1.05218030%727.60
03/29/16 1.05184472%152,819.00 1.05184472%160,741.86
03/31/16 (12,680.62) 1.05181421%(13,337.66)30,230.85 1.05181421%31,797.24
04/01/16 1.05178371%343.31 1.05178371%361.09
04/05/16 1.05166172%13,009.93 1.05166172%13,682.05
04/15/16 1.05135679%1,592.26 1.05135679%1,674.03
04/19/16 1.05123484%2,231.88 1.05123484%2,346.23
04/24/16 1.05108243%73.40 1.05108243%77.15
04/29/16 1.05093004%1,223.76 1.05093004%1,286.09
04/30/16 (9,800.43) 1.05089956%(10,299.27)9,800.43 1.05089956%10,299.27
05/10/16 1.05059485%394,969.00 1.05059485%414,952.40
05/13/16 1.05050346%1,297.15 1.05050346%1,362.66
05/17/16 1.05038161%2,724.88 1.05038161%2,862.16
05/27/16 1.05007705%827.24 1.05007705%868.67
05/31/16 (10,173.08) 1.04998570%(10,681.58)10,173.08 1.04998570%10,681.58
06/07/16 1.04977258%0.35 1.04977258%0.37
06/08/16 1.04974214%241.81 1.04974214%253.84
06/10/16 1.04968126%1,346.82 1.04968126%1,413.73
06/14/16 1.04955951%10,587.93 1.04955951%11,112.66
06/24/16 1.04925519%1,515.74 1.04925519%1,590.40
06/30/16 (9,785.26) 1.04907264%(10,265.45)28,029.10 1.04907264%29,404.56
07/02/16 1.04901180%1,244.93 1.04901180%1,305.95
07/05/16 1.04892054%8,979.64 1.04892054%9,418.93
07/12/16 1.04870764%0.07 1.04870764%0.07
07/19/16 1.04849478%2,570.81 1.04849478%2,695.48
07/22/16 1.04840356%433.65 1.04840356%454.64
07/27/16 1.04825156%467.81 1.04825156%490.38
07/31/16 (8,592.16) 1.04816037%(9,005.96)8,592.16 1.04816037%9,005.96
08/02/16 1.04809958%76,398.21 1.04809958%80,072.93
08/05/16 1.04800840%2,939.14 1.04800840%3,080.24
08/09/16 1.04788684%353,481.00 1.04788684%370,408.09
08/19/16 (601.86) 1.04758301%(630.50)1.04758301%
08/23/16 1.04746150%2,803.90 1.04746150%2,936.98
08/31/16 (6,660.16) 1.04724889%(6,974.85)6,660.16 1.04724889%6,974.85
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 2 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
09/02/16 1.04718816%1,972.25 1.04718816%2,065.32
09/06/16 1.04706669%1,095.00 1.04706669%1,146.54
09/12/16 (1,070.00) 1.04688453%(1,120.17)1.04688453%
09/16/16 1.04676310%1,278.57 1.04676310%1,338.36
09/27/16 1.04642924%2,414.70 1.04642924%2,526.81
09/30/16 (5,871.04) 1.04633821%(6,143.09)6,670.51 1.04633821%6,979.61
10/14/16 1.04591350%952.26 1.04591350%995.98
10/18/16 1.04579218%74,274.40 1.04579218%77,675.59
10/25/16 1.04557991%8,177.73 1.04557991%8,550.47
10/28/16 1.04548895%2,947.58 1.04548895%3,081.66
10/31/16 (5,398.95) 1.04542832%(5,644.22)11,693.63 1.04542832%12,224.85
11/08/16 1.04518582%126,676.44 1.04518582%132,400.42
11/10/16 1.04512520%3,506.30 1.04512520%3,664.52
11/15/16 1.04497367%30,372.50 1.04497367%31,738.46
11/22/16 1.04476157%28,750.00 1.04476157%30,036.90
11/23/16 1.04473127%2,447.06 1.04473127%2,556.52
11/29/16 1.04454951%8,897.50 1.04454951%9,293.88
11/30/16 (6,526.35) 1.04451922%(6,816.90)6,526.35 1.04451922%6,816.90
12/06/16 1.04433749%157,538.94 1.04433749%164,523.82
12/09/16 1.04424664%4,249.12 1.04424664%4,437.13
12/16/16 1.04403469%1,962.40 1.04403469%2,048.81
12/20/16 1.04391359%988.64 1.04391359%1,032.05
12/23/16 1.04382278%3,629.70 1.04382278%3,788.76
12/27/16 1.04370171%285,735.27 1.04370171%298,222.39
12/31/16 (15,257.40) 1.04361091%(15,922.79)39,929.21 1.04361091%41,670.56
01/06/17 1.04342934%1,011.06 1.04342934%1,054.97
01/10/17 1.04330832%323.97 1.04330832%338.00
01/17/17 1.04309655%592.00 1.04309655%617.51
01/20/17 1.04300581%2,564.51 1.04300581%2,674.80
01/24/17 1.04288483%947.50 1.04288483%988.13
01/31/17 (6,138.22) 1.04270339%(6,400.34)6,298.22 1.04270339%6,567.18
02/03/17 1.04261268%5,329.91 1.04261268%5,557.03
02/15/17 1.04224993%2,375.44 1.04224993%2,475.80
02/17/17 1.04218948%2,776.48 1.04218948%2,893.62
02/28/17 (8,256.71) 1.04185708%(8,602.31)8,256.71 1.04185708%8,602.31
03/01/17 1.04176645%390.00 1.04176645%406.29
03/03/17 1.04170603%5,232.57 1.04170603%5,450.80
03/07/17 1.04158520%4,403.12 1.04158520%4,586.22
03/14/17 1.04137379%2,948.63 1.04137379%3,070.63
03/17/17 1.04128320%2,703.87 1.04128320%2,815.49
03/21/17 1.04116242%3,150.15 1.04116242%3,279.82
03/28/17 1.04095109%8,281.65 1.04095109%8,620.79
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 3 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/30/17 1.04089072%240.00 1.04089072%249.81
03/31/17 (2,633.91) 1.04089072%(2,741.61)18,196.09 1.04089072%18,940.14
04/04/17 1.04076999%5,705.10 1.04076999%5,937.70
04/14/17 1.04046822%3,512.66 1.04046822%3,654.81
04/25/17 1.04013637%52,587.54 1.04013637%54,698.21
04/27/17 (44,900.00) 1.04007604%(46,699.41)44,900.00 1.04007604%46,699.41
04/28/17 1.04004588%3,961.91 1.04004588%4,120.57
04/30/17 (6,697.83) 1.03998556%(6,965.65)6,697.83 1.03998556%6,965.65
05/02/17 1.03992525%141,121.64 1.03992525%146,755.96
05/04/17 (42.84) 1.03986494%(44.55)1.03986494%
05/05/17 1.03983478%30.00 1.03983478%31.20
05/09/17 1.03971417%33,383.57 1.03971417%34,709.37
05/12/17 1.03962372%4,286.56 1.03962372%4,456.41
05/15/17 (7,122.34) 1.03953328%(7,403.91)1.03953328%
05/24/17 (2,840.35) 1.03926201%(2,951.87)2,840.35 1.03926201%2,951.87
05/26/17 1.03920173%4,992.55 1.03920173%5,188.27
05/30/17 1.03908120%8,830.81 1.03908120%9,175.93
05/31/17 (4,768.95) 1.03908120%(4,955.33)4,768.95 1.03908120%4,955.33
06/06/17 1.03890042%1,991.00 1.03890042%2,068.45
06/09/17 1.03881004%4,476.81 1.03881004%4,650.56
06/13/17 1.03868955%142,283.65 1.03868955%147,788.54
06/20/17 1.03847872%327,464.53 1.03847872%340,064.95
06/23/17 1.03838838%3,731.92 1.03838838%3,875.18
06/27/17 1.03826794%54.00 1.03826794%56.07
06/30/17 (6,228.50) 1.03817762%(6,466.29)35,751.45 1.03817762%37,116.36
07/01/17 1.03814751%5,330.05 1.03814751%5,533.38
07/05/17 1.03802710%135,332.18 1.03802710%140,478.47
07/11/17 1.03784650%281,395.00 1.03784650%292,044.82
07/18/17 1.03763585%703.12 1.03763585%729.58
07/21/17 (2,386.35) 1.03754558%(2,475.95)1.03754558%
07/25/17 1.03742523%336,141.15 1.03742523%348,721.31
07/27/17 (42,877.66) 1.03736507%(44,479.79)1.03736507%
07/31/17 (5,642.99) 1.03727482%(5,853.33)5,642.99 1.03727482%5,853.33
08/04/17 1.03715451%6,216.60 1.03715451%6,447.57
08/08/17 1.03703421%100,108.00 1.03703421%103,815.42
08/15/17 1.03682372%70,950.00 1.03682372%73,562.64
08/18/17 1.03673352%3,627.00 1.03673352%3,760.23
08/22/17 1.03661327%664,236.28 1.03661327%688,556.14
08/29/17 1.03640287%21,619.14 1.03640287%22,406.14
08/31/17 (7,968.23) 1.03637281%(8,258.06)7,968.23 1.03637281%8,258.06
09/01/17 1.03634276%5,643.47 1.03634276%5,848.57
09/05/17 1.03622255%150,691.28 1.03622255%156,149.70
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 4 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
09/12/17 (35,691.28) 1.03601223%(36,976.60)35,691.28 1.03601223%36,976.60
09/15/17 1.03592210%2,723.45 1.03592210%2,821.28
09/19/17 (35,691.28) 1.03580194%(36,969.10)309,437.72 1.03580194%320,516.19
09/26/17 1.03559170%56,429.63 1.03559170%58,438.06
09/29/17 1.03550161%3,441.83 1.03550161%3,564.02
09/30/17 (3,314.38) 1.03547159%(3,431.95)13,305.68 1.03547159%13,777.65
10/03/17 1.03538151%742.60 1.03538151%768.87
10/10/17 1.03517135%235.50 1.03517135%243.78
10/13/17 1.03508130%2,854.55 1.03508130%2,954.69
10/17/17 1.03496124%40,903.06 1.03496124%42,333.08
10/24/17 1.03475117%22,442.10 1.03475117%23,221.99
10/27/17 1.03466115%2,447.08 1.03466115%2,531.90
10/31/17 (416.06) 1.03457114%(430.44)654.94 1.03457114%677.58
11/07/17 1.03436115%2,208.00 1.03436115%2,283.87
11/09/17 1.03430116%1,873.57 1.03430116%1,937.84
11/14/17 1.03415121%30,790.00 1.03415121%31,841.52
11/21/17 1.03394130%2,504.25 1.03394130%2,589.25
11/22/17 1.03391132%1,567.47 1.03391132%1,620.62
11/28/17 1.03373144%8,646.09 1.03373144%8,937.74
11/30/17 (3,020.06) 1.03367149%(3,121.75)3,020.06 1.03367149%3,121.75
12/05/17 1.03352162%566.70 1.03352162%585.70
12/08/17 1.03343171%2,539.40 1.03343171%2,624.30
12/12/17 1.03331184%5,365.45 1.03331184%5,544.18
12/19/17 1.03310211%15,780.17 1.03310211%16,302.53
12/22/17 1.03301223%1,235.09 1.03301223%1,275.86
12/26/17 1.03289241%1,354.53 1.03289241%1,399.08
12/31/17 (167.81) 1.03277261%(173.31)15,702.27 1.03277261%16,216.87
01/05/18 1.03262287%883.17 1.03262287%911.98
01/09/18 1.03250310%2,882.10 1.03250310%2,975.78
01/16/18 1.03229353%986.17 1.03229353%1,018.02
01/19/18 1.03220373%1,535.82 1.03220373%1,585.28
01/23/18 1.03208400%4,559.61 1.03208400%4,705.90
01/30/18 1.03187452%1,940.00 1.03187452%2,001.84
01/31/18 (10,192.79) 1.03187452%(10,517.68)10,192.79 1.03187452%10,517.68
02/02/18 1.03181467%3,331.51 1.03181467%3,437.50
02/09/18 1.03160524%90.00 1.03160524%92.84
02/13/18 1.03148558%67,425.23 1.03148558%69,548.15
02/16/18 1.03139585%1,679.16 1.03139585%1,731.88
02/20/18 1.03127622%2,765.00 1.03127622%2,851.48
02/28/18 (368.75) 1.03103700%(380.19)2,050.23 1.03103700%2,113.86
03/02/18 1.03091741%1,745.06 1.03091741%1,799.01
03/12/18 (1,661.74) 1.03061849%(1,712.62)1.03061849%
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 5 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
03/16/18 1.03049895%1,678.68 1.03049895%1,729.88
03/20/18 1.03037943%5,705.24 1.03037943%5,878.56
03/24/18 1.03025991%39.20 1.03025991%40.39
03/27/18 1.03017029%6,780.46 1.03017029%6,985.03
03/28/18 (3.26) 1.03014041%(3.36)3.26 1.03014041%3.36
03/30/18 1.03008067%2,166.58 1.03008067%2,231.75
03/31/18 (10,775.41) 1.03008067%(11,099.54)26,752.11 1.03008067%27,556.83
04/03/18 1.02999106%559.00 1.02999106%575.77
04/10/18 1.02978200%2,637.00 1.02978200%2,715.54
04/13/18 1.02969241%2,846.80 1.02969241%2,931.33
04/17/18 1.02957298%59.00 1.02957298%60.74
04/24/18 1.02936400%8,219.02 1.02936400%8,460.36
04/27/18 1.02927445%4,160.68 1.02927445%4,282.48
04/30/18 (3,519.75) 1.02918491%(3,622.47)3,519.75 1.02918491%3,622.47
05/01/18 1.02915507%16,603.83 1.02915507%17,087.92
05/11/18 1.02885667%8,170.22 1.02885667%8,405.99
05/15/18 1.02873733%9,217.96 1.02873733%9,482.86
05/22/18 1.02852852%3,754.20 1.02852852%3,861.30
05/25/18 1.02843905%1,685.47 1.02843905%1,733.40
05/31/18 (10,833.87) 1.02828994%(11,140.36)10,833.87 1.02828994%11,140.36
06/08/18 1.02805141%3,116.33 1.02805141%3,203.75
06/19/18 1.02772352%43,101.47 1.02772352%44,296.39
06/22/18 1.02763412%2,250.35 1.02763412%2,312.54
06/26/18 1.02751492%221,162.91 1.02751492%227,248.19
06/30/18 (2,307.74) 1.02739574%(2,370.96)16,294.55 1.02739574%16,740.95
07/06/18 1.02721700%4,250.27 1.02721700%4,365.95
07/10/18 1.02709785%507,064.00 1.02709785%520,804.34
07/17/18 1.02688938%12,702.25 1.02688938%13,043.81
07/20/18 1.02680004%2,424.23 1.02680004%2,489.20
07/24/18 1.02668095%437,753.76 1.02668095%449,433.44
07/31/18 (59.46) 1.02650232%(61.04)941.06 1.02650232%966.00
08/03/18 1.02641302%3,968.14 1.02641302%4,072.95
08/08/18 1.02626421%250.00 1.02626421%256.57
08/14/18 1.02608566%283,232.00 1.02608566%290,620.29
08/17/18 1.02599640%3,166.59 1.02599640%3,248.91
08/21/18 1.02587739%845,688.85 1.02587739%867,573.07
08/28/18 1.02566917%5,465.58 1.02566917%5,605.88
08/31/18 (1,462.61) 1.02560968%(1,500.07)1,462.61 1.02560968%1,500.07
09/28/18 1.02477725%173.41 1.02477725%177.71
09/30/18 (667.41) 1.02471782%(683.91)2,415.07 1.02471782%2,474.77
10/02/18 1.02465839%14,172.94 1.02465839%14,522.42
10/12/18 1.02436129%755.91 1.02436129%774.32
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 6 of 6
Control # 15.00
PAR $7,010,000.00 EXHIBIT 3
Period 02/02/16 to 02/02/21
Proof of Investment Yield
Period
Ending Investments Value Factor Value Proceeds Value Factor Value
10/16/18 1.02424247%77,394.96 1.02424247%79,271.21
10/19/18 1.02415337%254,850.99 1.02415337%261,006.50
(8,373,576.36)(8,817,174.62) 8,506,933.12 8,817,174.62
Arbitrage Compliance Specialists, Inc.
Report 05th Year Arbitrage Rebate Calculation
Page 1 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 2 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 3 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 4 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 460
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 5 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 6 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 7 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (2/2/16 - 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 (2/2/16 - 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 (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 8 of 8
Control # 15.00
PAR $7,010,000.00 EXHIBIT 4
Period 02/02/16 to 02/02/21
Investment Detail - Project Fund - General Ledger - Fund 470
Wells Fargo (2/2/16 - 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 05th Year Arbitrage Rebate Calculation
Page 1 of 1
Control # 15.00
PAR $7,010,000.00 EXHIBIT 5
Period 02/02/16 to 02/02/21
Calculation Credits
Period 02/02/16 to 02/02/21
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.