Tax Exempt Debt Record Retention Policy

The following categories of records are to be maintained for each series of tax-exempt bonds issued by the University. The period of retention is the period a particular issue is outstanding plus three years. With respect to the third category, if you do not know whether the qualifying activity being conducted is in a bond-financed property, contact the University Debt Accountant at 935-5672 for assistance.

  1. Records relating to the bond transaction.
    1. Trust indenture
    2. Loan agreements
    3. Bond counsel opinion
    4. Official statement
    5. All other related documents
  1. Documentation of expenditure of bond proceeds.
    1. Construction contracts
    2. Certificates of completion
    3. Vendor invoices
  1. Documentation of use of bond-financed property by public and private sources.
    1. Management contracts
    2. Leases
    3. Sponsored agreements and clinical trial agreements.
  1. Documentation of sources of payment or security for the bonds.
  1. Documentation pertaining investment of bond proceeds
    1. Support for purchases and sales of securities
    2. SLGs subscription
    3. Yield calculations
    4. Evidence of income received from investment of proceeds
    5. Guaranteed investment contracts
    6. Rebate calculations

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