Financial Policy Handbook 2017

4. In the event the City takes action with respect to a bond financed asset, which causes the private business test or private loan test to be met, the Coordinator shall contact bond counsel and ensure timely remedial action under IRS Regulation Section 1.141-12. SECTION 7 - GENERAL PROJECT RECORDS For each project financed with tax-exempt obligations, the Coordinator shall maintain, until three (3) years after retirement of said tax-exempt obligations, the following: 1. Appraisals, demand surveys or feasibility studies, 2. Applications, approvals and other documentation of grants, 3. Depreciation schedules, 4. Contracts representing the project.