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Posted on: February 4, 2019

Requesting proposals for Arbitrage Rebate Calculation Services

The DWP is requesting proposals from qualified firms to provide arbitrage rebate calculation services to comply with federal tax laws and regulations relating to certain outstanding and future tax-exempt bonds issued by the DWP. 

PLEASE REFER TO ALL REQUIREMENTS AS PROVIDED IN THE RFP DOCUMENT.

DWP Arbitrage Rebate Calculation Services RFP 

Scope of Work to be Performed

For each outstanding bond issue as listed in Exhibit A and for future tax-exempt bond issues, the following services shall be provided:

1. Verification of the rebate and reporting requirements of the bond issue according to federal tax law.

2. To maintain and make available to the DWP, semi-annually, arbitrage rebate calculations in accordance with federal tax law.

3. Preparation of a report for bond issues on their five-year anniversary dates, or upon maturity or full redemption of the bond issue, which includes:

a. An explanation of the method and assumptions used in the report.

b. Calculation of arbitrage rebate and yield restriction liabilities.

c. Advice regarding the amount and timing of any payments required.

d. Documentation of calculations used to arrive at conclusions.

4. Preparation of all necessary IRS forms related to the services.

5. Preparation of an annual arbitrage rebate compliance summary listing each bond issue and the overall arbitrage rebate liability owed as of June 30th of each fiscal year with documentation of the supporting calculations.

6. Preparation on an as needed basis of a summary of potential transactional issues that may need to be addressed by the DWP to ensure compliance with the controlling documents

(s) (e.g., Indenture of Trust, Fiscal Agent Agreement, etc.) pertinent to the tax-exempt obligation(s) in question.

7. Coordination, as needed, with the DWP’s Bond Counsel of a review of the arbitrage rebate calculations and consultation to the DWP for arbitrage-related matters.

8. Any additional arbitrage-related work as requested by the DWP.

INTERESTED PARTIES SHALL SUBMIT FIVE (5) HARDCOPIES AND ONE (1) ELECTRONIC VERSION (FLASH DRIVE OR DISC) OF THEIR PROPOSAL. PROPOSALS MUST BE RECEIVED AT THE DWP BY 4:00 P.M. PACIFIC TIME ON MARCH 14, 2019.

DWP Arbitrage Rebate Calculation Services RFP

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