Policy Name: Post-Issuance Tax Exempt Bond Compliance Policy

Section: 200

Section Title: Executive

Policy Name: Post-Issuance Tax Exempt Bond Compliance Policy

Policy Number: 229

College Policy Executive: Chief Planning Officer

Approval Authority: Board of Trustees

Responsible Executive: Vice President for Administration and Finance

Responsible Unit: Administration and Finance

Date Adopted: October 15, 2014

Date Revised:

1. Policy :

The College will comply with the requirements imposed by federal tax law in order to maintain the tax-exempt status of tax-exempt bonds. The Post-Issuance Tax Exempt Bond Compliance procedure sets forth methodology for ensuring continued post-issuance compliance with Internal Revenue Service (IRS) requirements. The procedure explains the guidelines and practices the College will follow to remain in compliance with the rules relating to tax-exempt bonds.

2. Reason for Policy:

Ramapo College of New Jersey has post-issuance compliance obligations because it finances a portion of its capital needs through the issuance of tax-exempt bonds and receives funding for certain projects and equipment through grants made from proceeds of bonds (referred to as State-Backed Bonds) issued by New Jersey Educational Facilities Authority (NJEFA). The College must satisfy requirements imposed by federal tax law in order to maintain tax-exempt status of these bonds.

3. To Whom Does The Policy Apply:

VPAF, Business Services, Budget, Capital Planning and Construction and Facilities

4. Related Documents:

Procedures

5. Contacts:

Vice President for Administration and Finance
(201) 684-7621

Post-Issuance Tax Exempt Bond Compliance