Bond Allocation--Louisiana Community Development Authority
WHEREAS, pursuant to the Tax Reform Act of 1986 and Act 51 of the 1986 Regular Session of the Louisiana Legislature, Executive Order No. BJ 2008-47 was issued to establish:
(1) 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 (hereafter “Ceiling”);
(2) the procedure for obtaining an allocation of bonds under the Ceiling; and
(3) a system of central record keeping for such allocations; and
WHEREAS, The Louisiana Community Development Authority has applied for an allocation of the 2013 Ceiling to be used in connection with the financing the acquisition, rehabilitation, improvement and equipping of a 119 – unit multi-family residential rental development for individuals and families of low and moderate income in Abbeville, Vermillion Parish, Louisiana (the “Project”); and
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: The bond issue, as described in this Section, shall be and is hereby granted an allocation from the 2013 Ceiling in the amount shown:
AMOUNT OF ALLOCATION
NAME OF ISSUER
NAME OF PROJECT
Summit Live Oak Manor,
SECTION 2: The allocation granted herein shall be used only for the bond issue described in Section 1 and for the general purpose set forth in the “Application for Allocation of a Portion of the State of Louisiana’s Private Activity Bond Ceiling” submitted in connection with the bond issue described in Section 1.
SECTION 3: The allocation granted herein shall be valid and in full force and effect through December 31, 2013, provided that such bonds are delivered to the initial purchasers thereof on or before June 3, 2013.
SECTION 4: All references in this Order to the singular shall include the plural, and all plural references shall include the singular.
SECTION 5: This Order is effective upon signature and shall remain in effect until amended, modified, terminated, or rescinded by the Governor, or terminated by operation of law.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 Louisiana, at the Capitol, in the city of Baton Rouge, on this 5th day of March, 2013.
Secretary of State