Gulf Opportunity Zone Bond Allocation Procedures
Amends and Supplements Executive Order No. KBB 06-9
WHEREAS, Executive Order No. KBB 2006-9, issued on February 16, 2006, (a) established the method to be used in allocating the ceilings described therein, (b) provided the application procedure for obtaining an allocation of Bonds subject to such ceilings, and (c) established a system of record keeping for such allocations;
WHEREAS, such executive order contemplated the allocation of bonds and/or designation of bonds described therein through the issuance by the governor of the state of Louisiana of subsequent executive orders; and
WHEREAS, the governor desires to have the flexibility to evidence such allocations and/or designations thereunder, through either executive orders or any other method selected by the governor, including, without limitation, letters from the governor or any other written evidence of such allocation and/or designation, signed by the governor;
NOW THEREFORE I, KATHLEEN BABINEAUX BLANCO, Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and laws of the state of Louisiana, do hereby order and direct as follows:
SECTION 1: Executive Order No. KBB 2006-9, issued on February 16, 2006, is hereby amended and supplemented to provide, in addition to the provisions thereof, that the governor may, at her election, grant allocations and/or designations thereunder by letter or other written evidence of such allocations and/or designations signed by the governor.
SECTION 2: Such allocations and/or designations by the governor shall be delivered and retained, for record keeping purposes, in the same manner as the executive orders issued thereunder and shall have the same force and effect in granting allocations and/or designations thereunder.
SECTION 3: Terms not defined herein shall have the meanings as set forth in Executive Order No. KBB 2006-9, issued on February 16, 2006.
SECTION 4: Except as modified herein, all other provisions of Executive Order No. KBB 2006-9, issued on February 16, 2006, shall remain in full force and effect.
SECTION 5: This Order is effective upon signature and shall continue in effect until amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.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 12th day of June, 2006.
Kathleen Babineaux Blanco
Secretary of State