Friendship Public Charter Schools seeks qualified and experienced bidder(s) for. “Post Issuance-Compliance Services for Bonds issued
Interested contractors must provide the following services:
- Distribute a Post-Issuance Responsibilities Questionnaire” in connection with each bond issue requesting certain information relating to the projects financed by the bond issue as it relates to private use and bond proceeds expenditures.
- Work with representatives of the FPCS and/or its FPCS to collect all contracts, agreements, and related potential private-use materials (the “Agreements”) in connection with each separate bond issue, including any refunded bond issues.
- On a bond issue-by-bond issue basis, review the bond proceeds expenditure analysis or, perform such analysis and allocation if no allocation is provided.
- Prepare a detailed list of the bond financed property for each bond issue and prepare an analysis regarding the amount of bond proceeds allocable thereto. Such analysis would also account for any equity, grant funds or taxable bond proceeds that may otherwise be allocable to the bond financed property.
- Analyze each Agreement for compliance with IRS safe harbor contract guidelines applicable to management and research contracts and/or whether such Agreement gives rise to private business use.
- On a bond issue-by-bond issue basis, trace any non-conforming Agreements to the various physical locations within the bond financed property.
- On a bond issue-by-bond issue basis, determine the amount of private business use within the bond financed facilities.
- To the extent that private-use is determined to exist within the bond financed property, seek to optimize the analysis by determining whether any equity or taxable bond proceeds may be properly allocable to such use.
- Prepare a comprehensive annual report of findings on a bond issue-by-bond issue basis, which provides a description of the bond financed property, a tax status summary of all Agreements and how those Agreements are allocable to the bond financed property, an accounting of bond proceeds and a private-use analysis containing information necessary to complete Schedule K to IRS Form 990.
- If the amount of private use exceeds allowable limits under the Federal tax law, work in a timely manner with FPCS in order to determine appropriate courses of action and solutions.
- Conduct a legal review of the findings contained in the annual report and provide an opinion reflecting such findings.
- Electronically store on a secure server all information (including hard copies) provided by FPCS.