Read the following passage carefully:
Under the 2025 Municipal Fiscal Governance Act, local administrative bodies are authorized to issue sovereign-backed municipal bonds only if they maintain a verified Fiscal Resilience Score (FRS) above 75. The FRS is computed annually by an independent auditing committee using three parameters: debt-service coverage ratio, local tax collection efficiency, and infrastructure maintenance expenditure. The Act explicitly specifies that any municipality failing to meet the FRS threshold for two consecutive years shall have its bond issuance authority suspended until a comprehensive remediation audit is completed. However, a special exemption clause allows municipalities under emergency administrative restructuring to bypass the two-year suspension rule and regain bond-issuing capability immediately, provided they transfer 40% of their annual local tax revenue into a state-managed emergency escrow fund. Crucially, transferring revenue into this escrow fund does not relieve the municipality of its obligation to undergo annual FRS computations; it merely lifts the operational freeze on bond issuance while the remediation audit remains underway.
Based strictly on the passage above, evaluate the truth value of the following statement:
"A municipality undergoing emergency administrative restructuring that transfers 40% of its annual tax revenue into the state-managed escrow fund is exempt from annual Fiscal Resilience Score evaluations while undergoing its remediation audit."
Cevap: Cevap