For arbitrage purposes, a 3 year temporary period of unrestricted investment will be available if the bond issuer has the reasonable expectation at the time of issuance that it will enter into a binding obligation within 6 months to spend the lesser of $100,000.00 or two and a half percent of the project cost, that it will spend 85% of the proceeds within 3 years of the date of issuance and that it will proceed with the project with due diligence to completion.

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Prepare for the Rutgers Municipal Capital and Trust Fund Accounting Test. Use our study guide with flashcards and multiple choice questions. Each question provides hints and explanations for clearer understanding. Ensure your success on the test with our comprehensive resources!

Multiple Choice

For arbitrage purposes, a 3 year temporary period of unrestricted investment will be available if the bond issuer has the reasonable expectation at the time of issuance that it will enter into a binding obligation within 6 months to spend the lesser of $100,000.00 or two and a half percent of the project cost, that it will spend 85% of the proceeds within 3 years of the date of issuance and that it will proceed with the project with due diligence to completion.

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