Form 8038 Clause Samples
The Form 8038 clause requires parties to complete and file IRS Form 8038, which is used to report the issuance of certain tax-exempt bonds. In practice, this clause obligates the issuer to provide necessary information about the bond issue, such as the amount, purpose, and terms, and to ensure timely submission to the IRS. Its core function is to ensure compliance with federal tax regulations, thereby maintaining the tax-exempt status of the bonds and avoiding potential penalties.
Form 8038. Form 8038 relating to each series of Bonds that was “reissued” (for federal tax purposes) or is a new issue with respect to the Mortgaged Property has been or will be timely filed with the Internal Revenue Service.
Form 8038. A completed form 8038 (Information Return for Tax- Exempt Private Activity Bond Issues).
Form 8038. The information contained in Internal Revenue Service Form 8038 executed in connection with the issuance and delivery of the 1997 Bonds is true, accurate and complete in all respect.
Form 8038. The Summary of Use of Bond Proceeds (the "8038 Schedule") annexed to Schedule D sets forth the allocation of the Sale Proceeds to Project Costs. Said summary will be included in the Form 8038 to be submitted by the Authority to the Internal Revenue Service.
Form 8038. Section 149(e) of the Code requires as a condition to qualification for tax exemption that the Issuer provide to the Secretary of the Treasury certain information with respect to the Bonds and the application of the proceeds derived therefrom. The following representations of the Company will be relied upon, without further investigation or determination, by the Issuer and Bond Counsel in satisfying this information reporting requirement. Accordingly, the Company hereby represents, covenants and warrants for the benefit of the Issuer and Bond Counsel the truth and accuracy of the following:
Form 8038. This form is to be filled out and signed. We will file it with the IRS. Please follow the separate instructions for this form.
Form 8038. The Issuer will, upon preparation by and at the request of the Borrower, duly execute and return to the Borrower for filing with the Internal Revenue Service, Form 8038, which shall contain the information required to be filed pursuant to Section 149(e) of the Code.
Form 8038. Evidence that the federal tax information form 8038-G has been prepared for filing.
Form 8038. The Original Purchaser shall have received a properly completed and executed IRS Form 8038 as to the Series 2019 Notes.