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City may, when determined to be in the best interest of the City or required, contract with an arbitrage <br />rebate consultant to assist with the arbitrage rebate calculation. <br />The City will repay principal plus interest in accordance with the payment terms of the bond or contract. <br />Furthermore, the City will comply with all bond or contract covenants. This includes, but is not limited to, <br />any undertakings to provide ongoing disclosure and notice of certain listed events under Securities Laws. <br />Annual disclosure will take the form of the City's audited annual financial statements as well as other <br />information required by the bond or contract that is not reasonably contained in the annual report. The <br />City Finance Director will develop and comply with all post -issuance compliance policies and procedures <br />related to Tax Law and policies and procedures relating to initial and ongoing disclosure under Securities <br />Laws. <br />The Finance Director and bond counsel will coordinate their activities and review all debt issuance to <br />ensure that all securities are issued in compliance with State and federal legal and regulatory <br />requirements by the State law, Tax Law, Securities Law, rules and regulations. <br />The Finance Director may institute procedures to implement this policy and other bond covenants and <br />provisions related to State law, Tax Law, Securities Law, rules and regulations applicable to the City's debt. <br />No derivative products shall be used in connection with City debt. <br />Section VII. Other Policies <br />Periodic Review <br />This debt policy must be adopted by Council. The policy will be reviewed at least every four years by the <br />Finance Department and modifications must be submitted to and approved by the Council. <br />City of Tukwila Debt Policy Page 10 of 10 <br />34 <br />