Form 14246 - Advance Refunding Bonds Compliance Check Questionnaire - 2011
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8Department of the Treasury — Internal Revenue Service
14246
Form
Advance Refunding Bonds Compliance Check
OMB No. 1545-2071
(May 2011)
Questionnaire
We are asking for information regarding your current, post-issuance compliance and record retention procedures for Advance
Refunding Bonds. The questions in Part VII of the questionnaire (on awareness of voluntary compliance options) apply to all kinds of
tax-exempt bonds. Please complete the questionnaire and follow the instructions in the accompanying letter for returning it to us. For
all accompanying documentation, please clearly label the question to which it relates.
Name of Entity:
Employer Identification Number:
PART I Current Debt Management Policies and Procedures
1a. How do you identify and select bonds to be advance refunded?
(check all that apply)
State laws that guide refunding process and require certain savings
i.
ii. Written internal policy that requires certain savings
If written internal policy, are savings parameters subject to change, review, etc?
(attach
written internal policy or sheet with description)
iii. Advice of internal financial personnel
iv. Advice of outside financial advisors
v. Other
(attach sheet with description)
1b. Once prior bond issues to be advance refunded are identified, does the advance refunding
transaction require:
(check all that apply)
Approval by Attorney General, other State official, or State board
(other than your governing
Board or Committee)
Internal approvals such as vote of your governing Board or Committee
Financing at discretion of financial/executive personnel and no approval
(as referred to
is necessary
above)
1c. Do you have procedures in place to use capital appreciation bonds or zero coupon bonds in
Yes
No
structuring your advance refunding bond issues?
If Yes, do the procedures permit annual debt service on all your similarly secured bond issues
to be materially less than available revenues or taxes to pay those bonds?
(attach sheet with
description)
If Yes, what do the procedures permit the freed-up taxes and revenues, if any, to be used for?
(attach sheet with description)
If No, is your answer because:
You have procedures in place but do not use capital appreciation bonds or zero
coupon bonds in structuring your advance refunding bond issues?
You do not have procedures in place and you do not use capital appreciation bonds or
zero coupon bonds in structuring your advance refunding bond issues?
14246
Catalog Number 57701Q
Form
(Rev. 05-2011)
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