Florida Statutes 159.8053 – Issuance reports; final certification of allocation
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(1) Except for an allocation of state volume limitation that has been converted to the issuance of mortgage credit certificates pursuant to s. 159.80751, no portion of the state volume limitation may be allocated before the filing of an issuance report with the division by or on behalf of the issuer issuing bonds no later than the date on which the confirmation for such bonds expires. An issuer’s failure to file an issuance report before the expiration of a confirmation will result in the loss of such state volume limitation, regardless of whether the issuer has issued bonds pursuant to such confirmation.
(2) Each issuance report must include all of the following information:
(a) The name of the issuer issuing such bonds.
Terms Used In Florida Statutes 159.8053
- Carryforward confirmation: means a confirmation for a project that qualifies for a carryforward pursuant to…. 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
- Final certification of allocation: means the certification issued by the division following the timely filing of an issuance report which establishes the final amount of state volume limitation allocated to an issuer for an issuance of private activity bonds as required in…. See Florida Statutes 159.803
- Issuance report: means the form containing the information described in…. 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
(b) The confirmation pursuant to which the bonds are being issued.
(c) The amount of state volume limitation used by such issuance.
(d) The name and series designation of the bonds.
(e) The principal amount of bonds issued.
(f) The date of issuance and the amount of proceeds distributed at issuance.
(g) The purpose for which the bonds were issued, including the private business or entity that will benefit from or use the proceeds of the bonds; the name of the project, if known; the location of the project; whether the project is an acquisition of an existing facility or new construction; and the number 1of products manufactured or the number of residential units, if applicable.
(h) The name, role, and contact information of the person submitting the issuance report.
(3) At issuance, any portion of the state volume limitation granted in such confirmation that is unissued, except in the case of a carryforward confirmation, immediately reverts to the pool from which the allocation was made and must be made available for reallocation.
(4) Following the timely filing of an issuance report, the director of the division shall sign the final certification of allocation. The final certification of allocation may not be issued before the timely receipt of an issuance report pursuant to subsection (1).