2004-TOWN MEETING RECORDS - Laserfiche WebLink

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ROPES & GRAY LLP Maureen E. Pacella,Vice President -3 - January 18,2005 r With respect to the construction bonds, and any notes issued in anticipation thereof,the Town may elect to pay a penalty in lieu of rebate. Given today's very low short-term rates,that may not be the best choice. If an election is made to pay a penalty in lieu of rebate,we shall need to receive a copy of such , election. We should be furnished with copies of all Designation Certificates and completed Forms 8038-G in " connection with any notes issued in anticipation of the bonds, or a statement that such notes have not been designated and the reason for same. If, at the time any bonds or notes are issued for the above purpose,the Town will qualify for either ,b (i) the $5,000,000 arbitrage rebate exception provided for in Section 148(f) of the ' Internal Revenue Code of 1986, as amended(the "Code"), or t u the$10,000,000 bank interest deductibility exception provided for in Section 265(b) (3) of the Code, or for both such exceptions, we shall also need a schedule of all tax-exempt bonds and notes,including all renewal issues, and other obligations (such as lease-purchase agreements)issued or expected to be issued,by the Town during the calendar year in which the bonds (or notes)are issued. At a later time,we shall need to receive the usual final papers, forms for which we shall prepare or approve, including the Official Statements(both preliminary and final) and Notice of Sale,a certified " 'f copy of the minutes of the meeting of the Board of Selectmen at which the bonds are awarded, Signature and No-Litigation Certificate,Non-Arbitrage Certificate,Designation Certificate(if appropriate), Treasurer's Receipt, Continuing Disclosure Undertaking, completed Form 8038-G, a specimen bond and one of the executed bonds for examination. Sincerely, I Cecelia H. Abraham Senior Legal Assistant CHA:ksb Enclosures �. I cc: Thomas J. Connolly, Treasurer ' Town of Mashpee F 9632403 1.DOC �