8 Colo. Code Regs. § 1508-2-1.11

Current through Register Vol. 47, No. 16, August 25, 2024

Section 8 CCR 1508-2-1.11 - Arbitrage Compliance

The State Treasurer shall comply with the applicable arbitrage regulations mandated by the Internal Revenue Code, including but not limited to, regulations regarding timely filings. For State Financial Obligations, the State Treasurer is responsible for the following:

A. The direction of investments related to proceeds of the issuance or incurrence of Financial Obligations will be undertaken by the State Treasurer in accordance with applicable State law and, if applicable, the State Treasurer's Investment Policy.

B. The State Treasurer shall maintain separate accounts by source of funds and record pro rata interest income of any commingled funds used to invest the proceeds of Financial Obligations, on a monthly basis.

C. Balances in project accounts shall be monitored by the State Treasurer to document the spending and allocation of the proceeds of Financial Obligations.

D. The State Treasurer shall perform rebate computations until Financial Obligations are paid in full, in accordance with Internal Revenue Code regulations.

E. If applicable, the State Treasurer, may seek special tax counsel to opine on arbitrage regulations, and may employ arbitrage specialists as necessary to complete the required computations.

8 CCR 1508-2-1.11

. Rules 1.11 emer. rule eff. 06/14/2013.

. Rules 1.12 emer. rule eff. 06/14/2013.

. Rules 1.4 emer. rule eff. 06/14/2013.

Rule 1.11 eff. 09/14/2013.

Rule 1.12 eff. 09/14/2013.

Rules 1.4 eff. 09/14/2013.