CONTRACT EXTENSION FOR FISCAL YEAR 10/1/21 - 9/30/22 RBITAGE
COMPLIANCE
PECIALISTS 1=
August 10, 2021
Ms. Monica Mitchell, Assistant Finance Director
City of Clearwater, Florida("Issuer")
100 South Myrtle Avenue, 3rd Floor(East End)
Clearwater, FL 33756-5520
Dear Ms. Mitchell
CONTRACT EXTENSION FOR ARBITRAGE COMPLIANCE SERVICES
FOR FISCAL YEAR 10/1/21 —9/30/22
Arbitrage Compliance Specialists, Inc. ("ACS") is pleased to present our fees to provide arbitrage compliance
services for the City. Our firm has distinctive legal and accounting experience with arbitrage compliance services
dating back to the inception of the arbitrage rebate regulations of 1986. ACS is one of the most prominent
and well-respected providers of arbitrage compliance services in the nation. ACS' staff members are
accounting professionals who have extensive knowledge of governmental accounting, accounting allocation
methods and legal interpretation skills to compute the lowest permissible liability allowed. We pride
ourselves on our unprecedented commitment to each and every client we represent.
This contract relates to the City's tax-exempt debt issues and shall become effective at the date of acceptance
by the City and remain in effect until 9/30/22. The City or ACS can terminate this Contract upon a 30 day
written notice and payment of any services to-date. ACS has provided our fee schedule to encompass the
various elements that we may encounter during the calculations. ACS' fees are derived by the number of years
included in the calculation. The fees listed in the attached Bond Compliance
Program Budgets for the period 10/1/21 to 9/30/22 provides fees for reports covering the applicable periods.
Each calculation includes both a legal opinion and a CPA opinion to provide assurance that the calculations were
completed according to Section 148(f) of the Internal Revenue Code of 1986 that governs the arbitrage
rebate requirements (the"Tax Code").
We appreciate the opportunity to provide assistance to help the City comply with the IRS arbitrage
compliance requirements. As always, if we may be of further assistance or if there are any questions, please do
not hesitate to call us at(800) 672-9993 ext. 7536.
Sincerely,
Arbitrage Compliance Specia 'sts, Inc.
Robert Goubert, Director
Accepted by—Signature Print Name
I ! ) \ Ct
Date Title
Organization
Arbitraue Coy° Dhance SDedaflsts. enc,
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Gross Proceeds Spent before the Computation Period
Annual Calculation Fee for the Debt Service Residual $100
Gross Proceeds Remain Durinlz Computation Period
Annual Calculation Fee $495
Calculation Services
1. Review the documents related to the debt issue to include the Official Statement, Tax Certificate, IRS
Form 8038-G and CPA Verification Report.
2. Complete an in-depth analysis of the debt structure by our in-house tax attorney to determine if the debt
issue is subject to rebate and/or yield restriction and identify applicable exceptions.
3. Monitor IRS filing deadlines, election requirements and restricted periods in our database tracking system
to ensure timely reporting.
4. Perform the rebate, yield restriction/yield reduction or spending exception/penalty calculations in
compliance with Internal Revenue Code of 1986.
5. Provide calculations with legal opinion and CPA certified professional opinion that can be relied upon by
the City regarding the liability. The report will provide supporting documentation to include the
calculation method employed, assumptions and conclusions.
6. Prepare payment Form 8038-T with detailed filing instructions for accurate and timely filing to the IRS, if
applicable.
Support Services
7. Discuss the report and findings to ensure a complete understanding of the procedures and
recommendations in such report.
8. Prepare a debt compliance monitoring schedule that identifies all-important relevant information by issue
including prior calculations, liability amounts, future calculation due dates and important status notes.
9. Advise on how future changes in the Tax Code may affect the debt issue.
10. Provide technical assistance and consultation in matters related to the arbitrage compliance regulations.
11. Assist in the IRS record retention requirements,which include storage of records related to the debt issue.
12. Provide no cost audit support in the event of an IRS audit.
-2-
{ Bond Compliance Program Budget
City of Clearwater, Florida
ARBITRAGE
COMPLIANCE Arbitrage Compliance Specialists, Inc. 10/01/21 to 09/30/22
S P EC T A L I STS I= Phone: (800) 672-9993
Fax: (800) 756-6505
www.rebatebyacs.com Tuesday, August 10, 2021
Mm `'"" BUDGET
Type Start Date End Date Amount
12.00 $14,810,000.00 Revenue Bonds(Spring Training Facility), Arbitrage Rebate Calculation 20th Year 09/30/21 03/31/22 $495.00
Series 2002
22.00 $47,025,000.00 Water and Sewer Revenue Refunding Arbitrage Rebate Calculation Final 09/07/21 12/01/21 $495.00
Bonds,Series 2011
23.00 $19,365,000.00 Stormwater System Revenue Refunding Arbitrage Rebate Calculation 10th Year 09/30/21 02/02/22 $495.00
Bonds,Series 2012
24.00 $11,025,000.00 Stormwater System Revenue Refunding Arbitrage Rebate Review Interim 09/30/21 09/30/22 $100.00
Bonds,Series 2013
25.00 $7,365,000.00 Gas System Revenue Refunding Bonds, Arbitrage Rebate Review Interim 09/30/21 09/30/22 $100.00
Series 2013
26.00 $5,405,000.00 Gas System Revenue Refunding Bond, Arbitrage Rebate Review Interim 09/30/21 09/30/22 $100.00
Series 2014
29.00 $69,270,000.00 Water and Sewer Revenue Refunding Arbitrage Rebate Calculation 05th Year 09/30/21 02/28/22 $495.00
Bonds, Series 2017
30.00 $29,080,000.00 Water and Sewer Revenue Refunding Arbitrage Rebate Calculation 05th Year 09/30/21 09/21/22 $495.00
Bonds,Series 2017B
31.00 $20,430,000.00 Water and Sewer Revenue Refunding Arbitrage Rebate Calculation Interim 09/30/21 09/30/22 $495.00
Bonds,Series 2020
Total $3,270.00
Printed. Tuesday,August 10,2021