7C.6 Application for allocation.
261 words·~1 min read·
/ia/chapter-7c-private-activity-bond-allocation-act/7c-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A political subdivision which proposes to issue bonds for a particular project or purpose for which an allocation of the state ceiling is required and has not already been made under section 7C.4A, subsections 1 through 5, must make an application for allocation before issuance of the bonds. The application may be made by the political subdivision or its representative, the beneficiary of the project or purpose, or by a person acting on behalf of the beneficiary. The application shall be submitted to the governor’s designee, in the form prescribed by the governor’s designee. The application shall contain, where appropriate, the following information:
1. Name and mailing address of the political subdivision.
2. Name of the chief elected or appointed executive officer of the political subdivision.
3. If the project to be financed by the bonds is not to be owned by the political subdivision, the name or description and location by mailing address or other definitive description of the project for which the allocation is requested.
4. Name and mailing address of both the initial owner, beneficiary, or operator of the project and an appropriate person from whom information regarding the project or purpose can be obtained.
5. Date of adoption by the governing body of the political subdivision of any initial governmental act with respect to the bonds.
6. Amount of the state ceiling which the political subdivision is requesting be allocated to the bonds.
7. Other information which the governor’s designee deems reasonably required to carry out the purposes of this chapter.
Referred to in §7C.5, 7C.7, 7C.12