A. Management; Retention; Oversight Officer: With the exception of subsection C3 of this section, which records will be managed and retained by the appropriate department head or designee, management and retention of records related to tax exempt bond issues will be supervised by the Oversight Officer.
B. Term Of Retention: Records will be retained for the life of the bonds, plus any refunding bonds, plus three (3) years. This means that the issuer will maintain records regarding refunded bonds until three (3) years after the final refunding bonds (including through a series of refundings) is retired. Records may be in the form of documents or electronic copies of documents, appropriately indexed to specific bond issues and compliance functions.
C. Included Records: Retainable records generally include:
1. The transcript documents executed in connection with the issuance of the bonds (including the authorizing documents, offering materials, Form 8038-G and the Tax Certificate and Agreement, and any elections made with respect to the bonds, if applicable) and any amendments to such documents.
2. Records of expenditures of bond proceeds include requisitions, account statements and the final allocation of proceeds.
3. Records of the use of bond financed property, including all agreements reviewed for private use.
4. Records pertaining to investments, including GIC documents under the Treasury Regulations, records of purchase and sale of other investments, SLGs subscriptions, and records of investment activity sufficient to permit calculation of arbitrage rebate or demonstration that no rebate is due.
5. Records pertaining to rebate calculations and all rebated amounts paid to the United States Treasury.
6. Documentation evidencing sources of payment or security for the bond issue. (2019 Compilation)