EXECUTIVE ORDER KBB 06-49

Bond Allocation―The Finance Authority of New Orleans
Amends Executive Order No. KBB 06-18


WHEREAS, Executive Order No. KBB 2006-18, issued on March 28, 2006, granted a private activity bond allocation from the 2006 private activity bond volume limit to The Finance Authority of New Orleans in accordance with the requirements of Section 146 of the Internal Revenue Code of 1986, as amended; and

 

WHEREAS, it is necessary to amend Executive Order No. KBB 2006-18 in order to correct the amount of the allocation and to extend the time period in which the bonds may be delivered to initial purchasers;

NOW THEREFORE, I, KATHLEEN BABINEAUX BLANCO, 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: Section 1 of Executive Order No. KBB 2006-18, issued on March 28, 2006, is hereby amended to provide as follows:

 

Amount of Allocation

Name of Issuer

Name of Project

$25,000,000

The Finance Authority of New Orleans

Qualified Mortgage Revenue and Refunding Bonds Series 2006

 

SECTION 2: Section 3 of Executive Order No. KBB 2006-18, issued on March 28, 2006, is hereby amended to provide as follows:

 

The granted allocation shall be valid and in full force and effect through December 31, 2006, provided that such bonds are delivered to the initial purchasers thereof on or before December 28, 2006.

 

SECTION 3: All other sections of Executive Order No. KBB 2006-18 shall remain in full force and effect.

 

SECTION 4: The provisions of this Order are effective upon signature.

 

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 20th day of November, 2006.

 

Kathleen Babineaux Blanco
Governor

ATTEST BY
THE GOVERNOR
Jay Dardenne
Secretary of State