Page 448 - FortWorthFY23AdoptedBudget

VIII. Procedures Applicable to Obligations with a Debt Service Reserve Fund

If the Issuer issues Obligations that are secured by a debt service reserve fund, the
Responsible Person will assure that the maximum amount of any reserve fund for the
Obligations invested at a yield higher than the yield on the Obligations will not exceed
the lesser of (1) 10% of the principal amount of the Obligations, (2) 125% of the average
annual debt service on the Obligations measured as of the Issue Date, or (3) 100% of the
maximum annual debt service on the Obligations as of the Issue Date.

IX. Procedures Applicable to Escrow Accounts for Refunding Issues

In addition to the foregoing, if the Issuer issues Obligations and proceeds are
deposited to an escrow fund to be administered pursuant to the terms of an escrow
agreement, the Responsible Person will:

A. Monitor the actions of the escrow agent to ensure compliance with the applicable
provisions of the escrow agreement, including with respect to reinvestment of cash
balances;

B. Contact the escrow agent on the date of redemption of obligations being refunded
to ensure that they were redeemed; and

C. Monitor any unspent proceeds of the refunded obligations to ensure that the yield
on any investments applicable to such proceeds are invested at a yield that does not
exceed the yield on the refunding obligations or otherwise applied.

X. Procedures Applicable to All Tax-Exempt Obligations

For all issuances of Obligations the Responsible Person will:

A. Maintain any official action of the Issuer (such as a reimbursement resolution) stating
the Issuer's intent to reimburse with the proceeds of the Obligations any amount
expended prior to the Issue Date for the acquisition, renovation or construction of
the facilities;

B. Ensure the applicable information return (e.g., Form 8038-G, 8038-GC, or any
successor forms) is filed timely with the Internal Revenue Service (the "IRS"); and

C. Ensure, unless excepted from rebate and yield restriction under section 148(f) of the
Code, excess investment earnings are computed and paid to the U.S. government at

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