Summary
PICA adopted Resolution No. 2020-06, approving a Post-Issuance Compliance Policy for its previously issued and future bonds or debt obligations. Some of these obligations are federally tax-exempt, requiring compliance with specific federal regulations. Legal counsel advised that adopting a formal policy would align with best practices and strengthen oversight of compliance with tax and securities laws. The resolution attaches the full policy as Exhibit “A,” outlining required monitoring, recordkeeping, and reporting procedures. The Board authorized the Authority’s officers to implement and adhere to the policy. This resolution takes effect immediately.