Page 123 - CityofMansfieldFY24Budget
P. 123
Other Service Providers
The City shall select other service providers (e.g. escrow agents, verification agents, trustees, arbitrage
consultants, etc.) as necessary to meet legal requirements and minimize net City debt costs.
Arbitrage Compliance
The City shall maintain its books and records in a manner consistent with the provision allowed for under
the Internal Revenue Code Section 148. Furthermore, the City shall have its arbitrage exposure
calculated annually and appropriately recognized in the City’s Annual Comprehensive Financial
Statement.
Investment of Bond Proceeds
All bond proceeds shall be invested in accordance with the City Investment Policy. The proceeds shall be
invested as part of the City’s consolidated cash pool and accounted for separately and accordingly to bond
covenants and the Internal Revenue Code.
122
