Florida Statutes 159.8051 – Procedures for requesting state volume limitation; requirements; prohibitions
Current as of: 2024 | Check for updates
|
Other versions
(1) Before the issuance of any private activity bond by or on behalf of any issuer, such issuer shall request and obtain an allocation of a portion of the state volume limitation from the division through the issuance of a confirmation, except for private activity bonds issued by the corporation pursuant to s. 159.8062(2)(b) from the initial allocation of state volume limitation made by s. 159.8041(2)(b). Such request must be made through a notice of intent to issue containing the information required in this section timely filed with the division in accordance with s. 159.814 by or on behalf of the issuer requesting the confirmation. Any notice of intent to issue that does not conform to this section is not eligible to receive a confirmation and must be rejected.
(2) Each notice of intent to issue must include the following information:
(a) The name of the issuer requesting the allocation.
Terms Used In Florida Statutes 159.8051
- bond: means any bond which requires an allocation pursuant to…. See Florida Statutes 159.803
- Code: means the Internal Revenue Code of 1986, as amended, and the regulations and rulings issued thereunder. See Florida Statutes 159.803
- Confirmation: means the conditional allocation of a portion of the state volume limitation to an issuer, made pursuant to a timely filed notice of intent to issue, which is contingent upon the issuer's timely filing of an issuance report. See Florida Statutes 159.803
- Division: means the Division of Bond Finance of the State Board of Administration. See Florida Statutes 159.803
- Governmental unit: means the general-purpose governmental unit, as defined in the Code, which provides approval under the federal Tax Equity and Fiscal Responsibility Act (TEFRA) for proposed issuances of private activity bonds for issuers within its jurisdiction. See Florida Statutes 159.803
- Issuer: means the State of Florida, any governmental unit, a housing finance authority, an industrial development authority, or any other entity in this state authorized to issue private activity bonds. See Florida Statutes 159.803
- Notice of intent to issue: means the form containing the information described in…. See Florida Statutes 159.803
- person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
- State volume limitation: means the maximum amount of private activity bonds which may be issued in this state during each calendar year as such limit is imposed by…. See Florida Statutes 159.803
- TEFRA approval: means the approval of a proposed issuance of bonds by an elected official or body of elected officials of the applicable governmental unit after a public hearing or by a referendum of the voters within such governmental unit, as required by…. See Florida Statutes 159.803
(b) The name and contact information of the person submitting the notice of intent to issue.
(c) The amount of state volume limitation requested.
(d) A description of the project and the type of qualified bond, as such term is defined in s. 141(e) of the Code, including the type of exempt facility, as described in s. 142(a) of the Code, if applicable, which will be issued to finance the project.
(e) The county or counties in which the project will be located.
(f) The pool from which the allocation is requested.
(g) The governmental unit that provided any required TEFRA approval, and a certification that, if required, TEFRA approval has been obtained. A notice of intent to issue may not be filed until any required TEFRA approval has been obtained.
(h) The fee required by s. 159.811.
(i) An opinion or statement of counsel that the project to be financed may be financed with private activity bonds and that an allocation of state volume limitation is required to issue such bonds.
(3) A separate notice of intent to issue must be filed for each proposed issuance of private activity bonds. A notice of intent to issue may not request an allocation of state volume limitation for more than one project or more than one purpose. An issuer may not request an allocation of state volume limitation from multiple pools in a single notice of intent to issue.