Summary
PICA adopted Resolution No. 2022-08, approving the retention of The Arbitrage Group to conduct arbitrage rebate calculations required for PICA’s outstanding bonds. The resolution ensures compliance with federal tax laws regarding bond proceeds by engaging a professional consultant. The Arbitrage Group was selected following a proposal submitted on May 5, 2022, outlining services for the calculation periods ending June 30, 2022, and June 30, 2023. The engagement helps PICA meet its regulatory obligations until the maturity of its bonds on June 30, 2023. The resolution authorizes the execution of necessary contracts and affirms prior related actions. It takes effect immediately, ensuring continuity in financial compliance.