Laserfiche WebLink
22. the Obligations must provide that the City will not cause or permit the Obligations to be <br />treated as "federally guaranteed" obligations within the meaning of § 149(b) of the Code; <br />23. the transcript must include a No Arbitrage Certificate or similar Federal Tax Certificate <br />setting forth the City's reasonable expectations regarding the use, expenditure and <br />investment of the proceeds of the Obligations; <br />24. the transcript must include evidence that the information reporting requirements of <br />§ 149(e) of the Code will be satisfied. This requirement may be satisfied by filing an IRS <br />Form 8038 with the Internal Revenue Service. In addition, the applicable completed IRS <br />Form 8038 or other evidence that the information reporting requirements of § 149(e) <br />have been satisfied must be provided to the Executive Administrator within fourteen (14) <br />days .of closing. The Executive Administrator may withhold the release of funds for <br />failure to comply; <br />25. the Obligations must provide that neither the City nor a related party thereto will acquire <br />any of the TWDB's Source Series Bonds in an amount related to the amount of the <br />Obligations to be acquired from the City by the TWDB; <br />State Revolving Fund Conditions <br />26. the City shall submit outlay reports with sufficient documentation on costs on a quarterly <br />or monthly basis in accordance with TWDB outlay report guidelines; n <br />27. the Obligations must include a provision stating that all laborers and mechanics employed <br />by contractors and subcontractors for projects shall be paid wages at rates not less than <br />those prevailing on projects of a similar character in the locality in accordance with the <br />Davis -Bacon Act, and the U.S. Department of Labor's implementing regulations. The <br />City, all contractors, and all sub -contractors shall ensure that all project contracts <br />mandate compliance with Davis -Bacon. All contracts and subcontracts for the <br />construction of the project carried out in whole or in part with financial assistance made <br />available as provided herein shall insert in full in any contract in excess of $2,000 the <br />contracts clauses as provided by the TWDB; <br />28. the Obligations must include a provision stating that the City shall provide the TWDB <br />with all information required to be reported in accordance with the Federal Funding <br />Accountability and Transparency Act of 2006, Pub. L. 109-282, as amended by Pub. L. <br />110-252. The City shall obtain a Data Universal Numbering System (DUNS) Number <br />and shall register with System for Award Management (SAM), and maintain current <br />registration at all times during which the Obligations are outstanding; <br />29. the Obligations shall provide that all loan proceeds will be timely and expeditiously used, <br />as required by 40 CFR § 35.3135(d), and also shall provide that the City will adhere to <br />the approved project schedule; <br />6 <br />TWDB Commitment No. L1000600 <br />Exhibit A, Page 7 of 10 <br />