EXECUTIVE ORDER
BJ 11-01

Carry-Forward Bond Allocation 2010


WHEREAS,   pursuant to the Tax Reform Act of 1986 and Act 51 of the 1986 Regular Session of the Louisiana Legislature (hereafter “Act”), Executive Order No. BJ 2008-47 was issued to establish a method for allocating bonds subject to private activity bond volume limits, including the method of allocating bonds subject to the private activity bond volume limits for the calendar year 2008 and subsequent calendar years; (2) the procedure for obtaining an allocation of bonds under the ceiling; and (3) a system of central record keeping for such allocations;
WHEREAS,   Section 4(H) of No. BJ 2008-47 provides that if the ceiling for a calendar year exceeds the aggregate amount of bonds subject to the private activity bond volume limit issued during the year by all issuers, by executive order, the Governor may allocate the excess amount to issuers or an issuer for use as a carry-forward for one or more carry-forward projects permitted under the Act;
WHEREAS,   The sum of four hundred four million two hundred eighty six thousand eight hundred forty dollars ($404,286,840) represents the amount of the ceiling determined by the staff of the Louisiana State Bond Commission (“SBC”) for private activity bond volume limits for the year 2010 (“2010 Ceiling”);
WHEREAS,   Executive Order No. BJ 2010-10, issued on June 9, 2010 allocated two million five hundred thousand dollars ($2,500,000) from the 2010 Ceiling to the Local Government Environmental Facilities and Community Development Authority for a multi-purpose building, and two million five hundred thousand dollars ($2,500,000) of the allocation was returned unused to the 2010 Ceiling;
WHEREAS,   Four hundred one million seven hundred eighty six thousand eight hundred forty dollars ($401,786,840) of the 2010 Ceiling was not allocated during the 2010 calendar year; and two million five hundred thousand dollars ($2,500,000) of the 2010 Ceiling was returned; and WHEREAS,   The SBC has determined that four hundred four million two hundred eighty six thousand eight hundred forty dollars ($404,286,840) of the excess 2010 Ceiling is eligible as carry-forward and the Governor desires to allocate this amount as carry-forward for projects which are permitted and eligible under the Act;
NOW THEREFORE, I, BOBBY JINDAL, Governor of the State of Louisiana, by virtue of the authority vested by the Constitution and the laws of the State of Louisiana, do hereby order and direct as follows:
SECTION 1:  Pursuant to and in accordance with the provisions of Section 146(f) of the Internal Revenue Code of 1986, as amended, and in accordance with the requests for carry-forward filed by the designated issuers, the excess private activity bond volume limit under the 2010 Ceiling is hereby allocated to the following issuers, for the following carry-forward projects, and in the following amounts:

Issuer

Carry-Forward Project

Carry-Forward Amount

Louisiana Housing Finance Agency

Mallard Crossing Apartments Multifamily Housing Revenue Bond

$14,107,000

Louisiana Housing Finance Agency

Woodcrest Apartments Multifamily Housing Revenue Bond

$7,872,000

Louisiana Housing Finance Agency

Blue Plate Lofts Multifamily Housing Revenue Bond

$15,000,000

Finance Authority of New Orleans

GCHP-MLK Multifamily Housing Revenue Bond

$10,000,000

Louisiana Housing Finance Agency

Multifamily Mortgage Revenue Bond

$100,000,000

Finance Authority of New Orleans

Multifamily Mortgage Revenue Bond

$10,000,000

Louisiana Housing Finance Authority

Single Family Mortgage Revenue Bond

$61,826,960

East Baton Rouge Mortgage Finance Authority

Single Family Mortgage Revenue Bond

$61,826,960

Finance Authority of New Orleans

Single Family Mortgage Revenue Bond

$41,226,217

Finance Authority of New Orleans

Single Family Mortgage Revenue Bond

$41,226,217

Finance Authority of St. Tammany Parish

Single Family Mortgage Revenue Bond

$20,600,743

Rapides Finance Authority

Single Family Mortgage Revenue Bond

$20,600,743

SECTION 2:  All references in this Order to the singular shall include the plural, and all plural references shall include the singular.
SECTION 3:  This Order is effective upon signature and shall remain in effect until amended, modified, terminated, or rescinded by the Governor, or terminated by operation of law.
IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of the State of Louisiana, at the Capitol, in the City of Baton Rouge, on this 9th day of
February, 2011.

Bobby Jindal
Governor

ATTEST BY
THE GOVERNOR
Jay Dardenne
Secretary of State