Sec. 11. The authority may establish conditions for the termination of a grant of volume cap. The conditions may include requirements such as the following:

(1) That the amount of volume cap granted may not be substantially higher than the amount of actual bonds issued.

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

(2) That the issuer issue bonds within the time specified by the authority.

As added by P.L.189-2018, SEC.25.