EXECUTIVE ORDER
BJ 12-01

Carry-Forward Bond Allocation 2011


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

(1)       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 thirty million six hundred and seventy thousand three hundred forty dollars ($430,670,340) 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 2011 (“2011 Ceiling”);
WHEREAS,    Executive Order No. BJ 2011-2, issued on February 9, 2011, allocated one million four hundred thousand dollars ($1,400,000) from the 2011 ceiling to the Local Government Environmental Facilities and Community Development Authority for financing of the acquisition, construction, rehabilitation, and equipping of distributive sewer systems for the Fourth Ward Water Association, and $176,000 was returned unused to the ceiling.
WHEREAS,    Executive Order No. BJ 2011-3, issued on February 9, 2011, allocated five million seven hundred eighty dollars ($5,780,000) to the Local Government Environmental Facilities and Community Development Authority for financing of the acquisition, construction, rehabilitation, and equipping of distributive sewer systems for Density Utilities of Louisiana, and $5,780,000 was returned unused to the ceiling.
WHEREAS,    Executive Order No. BJ 2011-13, issued on July 15, 2011, allocated ten million dollars ($10,000,000) to the Louisiana Public Facilities Authority for financing of the acquisition, construction, and installation of a synthetic alternative fuel manufacturing facility for the Performance Fuel Project, and $10,000,000 was returned unused to the ceiling.
WHEREAS,    Executive Order No. BJ 2011-14, issued on July 15, 2011, allocated twenty million dollars ($20,000,000) to the Calcasieu Parish Public Trust Authority for financing of Single Family Mortgage Bonds.
WHEREAS,    Executive Order No. BJ 2011-15, issued on July 26, 2011, allocated five million two hundred eighty dollars ($5,280,000) to the Local Government Environmental Facilities and Community Development Authority for financing of the acquisition, construction, rehabilitation, and equipping of distributive sewer systems for Density Utilities of Louisiana, and $5,280,000 was returned unused to the ceiling.
WHEREAS,    Executive Order No. BJ 2011-24, issued on December 8, 2011, allocated five million seven hundred twenty dollars ($5,720,000) to the Local Government Environmental Facilities and Community Development Authority for financing of the acquisition, construction, rehabilitation, and equipping of distributive sewer systems for Density Utilities of Louisiana, and $5,720,000 was returned unused to the ceiling.
WHEREAS,    three hundred eighty-two million four hundred ninety thousand three hundred forty dollars ($382,490,340) of the 2011 Ceiling was not allocated during the 2011 calendar year; and twenty-six million nine hundred fifty-six thousand dollars ($26,956,000) of the 2011 Ceiling was returned; and
WHEREAS,    The SBC has determined that four hundred nine million four hundred forty-six thousand three hundred and forty dollars ($409,446,340) of the excess 2011 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 2011 Ceiling is hereby allocated to the following issuer, for the following carry-forward project, and in the following amount:

Issuer

Carry-Forward Project

Carry-Forward Amount

England Economic and Industrial Development District

Sundrop Fuels Louisiana, LLC

$409,446,340

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, 2012.

Bobby Jindal
Governor

ATTEST BY
THE GOVERNOR
Tom Schedler
Secretary of State