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<br />APPENDIX B <br /> <br />INFORMATION REQffiRED TO PERFORM <br />REBATE COMPUTATIONS <br /> <br />The following information must be provided for each bond issue requiring an arbitrage rebate <br />calculation. Most of this information can be accumulated at the time the bonds are issued and <br />sent to First Southwest Company as part of the delivery of the bonds. We recommend that <br />information related to investment activity be forwarded on a periodic basis. This will allow First <br />Southwest Company to enter and review the investment detail in advance of the computation date <br />required under federal law . In this manner, the time required to complete the computation and <br />issue the related report can be reduced. <br /> <br />For each bond issue, please obtain the following information to be sent to First Southwest <br />Company: <br /> <br />Copy of Omcial Statement for the issue. If no Official Statement is prepared on the issue, <br />a copy of the bond resolution, indenture, ordinance or similar official transcript describing the <br />issue will be needed. <br /> <br />Copy of Winning Bid Form and Underwriter's Certificate as to Yields. This information <br />is only required when the bond issue was sold on a competitive basis. If the sale was <br />negotiated, the Final Official Statement normally provides the information required to properly <br />compute the arbitrage yield. If the issue was sold competitively, the winning bid form and <br />underwriter's certificate are needed to obtain information regarding the interest rates and initial <br />offering yields to the public. <br /> <br />Copy of Form 8038 (Informational Tax Form). This form is normally prepared by bond <br />counsel as part of the closing documents. A copy of this form must accompany any rebate <br />payments filed with the Internal Revenue Service. <br /> <br />Description of Funds created for the bond issue. To ensure that we have properly addressed <br />the distribution of all funds and the related arbitrage requirements, it is useful for us to obtain <br />a description of the various funds created by the bond issue. In the official documents <br />supporting the issuance of the bonds (e.g., Official Statement), there is normally a narrative <br />section outlining the funds for which bond proceeds and other monies may be deposited. <br /> <br />Copy of "No..Arbitrage Certificate." This certificate, although frequently called by another <br />name, describes the federal tax law requirements the Issuer must follow to comply with various <br />arbitrage laws. This document permits us to evaluate the specific tax compliance requirements <br />established by Bond Counsel at the time the bonds were issued. <br /> <br />9 <br />