On the earlier of three business days after notice of issuance of the confirmation pursuant to section 35-904, subsection H or the filing of a certificate of closing, the authority shall be paid a nonrefundable confirmation fee of three hundred twenty dollars per million dollars for which a confirmation is issued. The failure to make timely payments of the confirmation fee shall result in the retroactive cancellation of the confirmation.

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Terms Used In Arizona Laws 35-909

  • Authority: means the Arizona finance authority established by Title 41, Chapter 53, Article 2. See Arizona Laws 35-901
  • Certificate of closing: means the certificate of closing adopted for use by and to be filed with the authority declaring that bonds were issued or that a qualified mortgage credit certificate program has been established. See Arizona Laws 35-901
  • Confirmation: means the allocation confirmation that confirms an allocation to a project in the form adopted for use by the authority. See Arizona Laws 35-901
  • Issued: means , with respect to a bond or bonds, either of the following:

    (a) The bond or bonds have been delivered and paid for in full. See Arizona Laws 35-901

 

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