Project Fund Administration and IRS Bond/State Compliance

After bond funds are invested, the District will begin awarding building contracts, making progress payments and maintaining on a project-by-project basis management tracking for the Citizen's Oversight Committee.

In addition, the issuance of tax-exempt bonds creates reporting obligations including reporting and tracking ofarbitrage rebate on invested fund balances and continuing disclosure filings that are due each year as long as the bonds are outstanding. The continuing disclosure requirement is for the benefit of investors that own District Bonds and is mandated by the Securities and Exchange Commission.

The District has retained California Financial Services to provide all of the ongoing project tracking, reporting, and compliance services needed under its bond building program.

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Last modified: March 16, 2004

Disclaimer: This website is the sole responsibility of Mike McMahon. It does not represent any official opinions, statement of facts or positions of the Alameda Unified School District. Its sole purpose is to disseminate information to interested individuals in the Alameda community.