All of the following Would Be Found in the Legal Opinion of a Municipal Revenue Bond except

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e) Based on the intermediary entity`s assessment of the risk posed by the sub-recipient (as described in paragraph (b) of this section), the following monitoring tools may be useful to the transmission unit to ensure accountability and compliance with program requirements and the achievement of performance objectives: (b) the imposition of requirements on recipients. Organizations may impose legally binding requirements on recipients only through the public notification and comment process through an approved agency process, including those authorized by this Part, other laws or regulations, or as incorporated into the terms of a federal award. (3) This provision does not restrict the power of the Federal Agency for Public Procurement to mark taxes in which federal participation is inappropriate. If the determination of the amount of ineligible taxes requires excessive effort, the authority responsible for indirect costs may accept an appropriate reconciliation of those taxes. The costs of selling and marketing the products or services of the non-federal organization (except as authorized by § 200.421) are not refundable, except as direct costs, with the prior approval of the Federal Agency for Public Procurement, if this is necessary for the implementation of the Federal Prize. (e) Applicability of the programme. Except for sections 200.203, 200.216 and 200.331 to 200.333, the requirements of subsections C, D and E of this Part do not apply to the following programs: (1) The value of donated land and buildings shall not exceed the fair market value determined by an independent expert at the time of the donation to the non-federal organization (e.g., certified real estate appraiser or representative of the General Services Administration) and by an officer in charge of the non-federal agency under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended (42 U.S.C. 4601-4655) (Uniform Act), except as provided for in the implementing provisions of 49 CFR Part 24, Uniform Relocation Assistance And Real Property Acquisition For Federal And Federally-Assisted Programs Considered. Given the complexity of the income bond market, it`s no surprise that yields and spreads vary. A spread is the additional yield that a bond pays above a highly rated benchmark. Bonds with higher commercial risk that are likely to be exposed to higher risks related to COVID-19, such as the hospital and transportation sectors, have higher spreads on average. However, sectors where trade risk is lower, such as water and wastewater, have much lower spreads. Currently, the gaps for all sectors are tight relative to their long-term averages.

Given the low spreads, we think it`s advisable to be cautious about which income sectors tend to be riskier. (2) The following table describes which parts of this Part apply to which types of federal subsidies. The terms and conditions of the federal scholarships (including this Part) will be transferred as sub-grants to the sub-recipients, unless a particular section of this Part or the terms of the federal award expressly provide otherwise. This means that non-federal entities must meet the requirements of this Part, regardless of whether the non-federal entity is a recipient or sub-recipient of a federal grant. Transfer organizations shall meet the requirements described in Subsection D of this Part, §§ 200.331 to 200.333, but not the requirements of this Part addressed to federal procurement agencies, unless the requirements of this Part or the terms and conditions of federal government procurement provide otherwise. (c) Responsibilities of the contracting authority of the Confederation. The Federal Procurement Agency must provide the following for the federal responsibilities it grants (see also the requirements of § 200.211): (d) Federal procurement agencies may request exemptions to support innovative program designs that apply a risk-based and data-driven framework to mitigate certain compliance requirements and hold recipients accountable for their good performance. See also § 200.206. (3) Limited to one or more of the following types of compliance requirements: licensed or unauthorized activities; eligible costs/cost principles; eligibility; and reports. 2. Special tax obligations: A special tax income obligation is an obligation that is reimbursed by collecting a tax on a specific activity or asset. For example, a special tax on the sale of alcohol or tobacco may be levied to fund a new cancer research institution.

(2) Supplement. With the prior approval of the Federal Issuing Agency (with the exception of heHIs and not-for-profit research institutions described in this paragraph), program revenues may be added to the federal premium by both the federal and non-federal agencies. Revenues from the program must be used for the purposes and under the conditions of the federal allocation. (ii) the extent to which the Facility has actually been used to meet needs during the accounting year. A multilayer base should be used where it can be demonstrated that this amount of use would normally be expected for the type of installation concerned. – Closed: The issuer may not issue additional bonds with equal rights to the assets unless funds are required to complete the construction of the facility. (b) If, in a particular case, despite all reasonable efforts of the non-federal organization, certain costs cannot be interrupted immediately after the effective date of termination, those costs are generally permitted within the limits set out in this Part, except that such costs incurred after the termination due to the negligence or wilful failure of the non-federal organization, these costs must be interrupted, continued, unauthorized. With a particular federal decision, it can be difficult to determine the relevance and proportionality of certain cost elements.

In order to avoid tolerance or subsequent litigation due to unreasonableness or inadequacy, the non-federal agency may obtain the prior written consent of the Indirect Costs Agency or the Federal Procurement Agency before incurring any special or unusual costs. Prior written approval should cover the timing or scope of the agreement. The absence of prior written approval of a cost element does not in itself affect the reasonableness or inadequacy of that element, unless prior authorization is expressly required for admissibility, as described in certain circumstances in the following sections of this Part: (3) Damages result from the non-maintenance of eligible insurance, except as otherwise provided in section 200.447. – The subscription contract is awarded to the municipal merchant who submitted the lowest net interest cost (NIC).- Many issuers also require bidders to specify the actual cost of interest (TIC). This calculation takes into account the time value of the money. (3) Closing costs, such as brokerage, attorney and valuation costs, are incurred upon the transfer of the employee`s former domicile.