Sarasota County Debt Management Policy - Resolution 2021-184

Sarasota County Debt Management Policy G. RECORDKEEPING 1. General The County is aware of its ongoing recordkeeping responsibilities associated with its debt issuances. The County's relationship with its dissemination agent is intended to assist the County in maintaining compliance with its recordkeeping responsibilities. Each Tax Certificate prepared on behalf of the County for a debt issuance shall provide for a description of the records to be maintained by or on behalf of the County and period of time such records must be maintained. In addition, the County is familiar with the IRS's Frequently Asked Questions related to the recordkeeping requirements for tax-exempt debt. 2. Means of Maintaining Records The County may maintain all records required to be held as described in this section in a manner consistent with State Record Law. These records will be store in paper and/or electronic form (e.g., CD, drives, disks, form either internally or through the dissemination agent). It is the policy of the County to maintain as much of its records electronically as feasible. 3. Transcript and Use of Debt Proceeds The County shall maintain, or cause to be maintained, all records relating to the tax- exempt status of its tax-exempt debt issuances and the qualification of County debt and the representations, certifications and covenants set forth in its respective Tax Certificates until the date 3 years after the last outstanding obligation of the issue to which such records and Tax Certificate relate has been retired. These records include, but are not limited to, the following: a. Basic records and documents relating to the obligations (including the transcript, which shall include, among other records, the Tax Certificate, IRS Form 8038-G or 8038-8, verification report, authorizing resolution(s), trust indenture, loan agreement, record of public approval, and the opinion of Bond Counsel); b. Documentation evidencing the expenditure of debt proceeds; c. Documentation evidencing interest paid by the County for which refundable credits are claimed and all IRS Form 8038-CPs submitted on behalf of the County; d. Documentation evidencing the use of debt financed projects by public and private sources, including copies of all arrangements described in Part VI I Section D of these policies and procedures; 24