EXECUTIVE ORDER
BJ 13-21

Carry-Forward Bond Allocation 2013

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

(1)      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, Executive Order No. BJ 2013-20, issued on December 13, 2013, allocated twenty million dollars ($20,000,000) from the 2013 ceiling to the Calcasieu Parish Public Trust Authority to be used by the Mortgage Credit Certificate Program for the acquisition of certain mortgage notes secured by the mortgages on owner occupied residential, real, or immovable property owned by low and moderate income persons in the Imperial Calcasieu Parish area (Parishes of Calcasieu, Cameron, Allen, Beauregard and Jefferson Davis, Louisiana) originated by participating mortgage lenders, make deposits into certain funds as may be required for security in marketing the bonds; pay capitalized interest on the Bonds; pay the costs of issuance associated with the Bonds to be located in the Parishes of Calcasieu, Cameron, Beauregard, Allen, and Jeff Davis, State of Louisiana and $20,000,000 was returned unused to the ceiling.
WHEREAS,  The SBC has determined that twenty million dollars ($20,000,000) of the excess 2013 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 request for carry-forward filed by the designated issuer, excess private activity bond volume limit under the 2013 Ceiling is hereby allocated to the following issuer(s), for the following carry-forward project(s), and in the following amount(s):

Issuer

Carry-Forward Project

Carry-Forward Amount

Calcasieu Parish Public
Trust Authority

Mortgage Credit
Certificate Program

$20,000,000

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 30th day of December, 2013.

 

Bobby Jindal
Governor

ATTEST BY
THE GOVERNOR
Tom Schedler
Secretary of State