§ 35-901 – Definitions
35-901. Definitions In this chapter, unless the context otherwise requires: 1. " Authority" means the Arizona finance authority established by title 41, chapter 53, article 2. 2. " Board" means the board of directors of the authority. 3. " Bond" means any obligation that is subject to the provisions of section 146 of the code, […]
§ 35-902 – Allocation
35-902. Allocation A. Subject to this chapter, the total amount of the state ceiling is allocated among projects pursuant to this section. The director shall issue confirmations on a first come, first served basis, within any particular category of projects as described in subsection C, D, E, F or G of this section. B. Thirty […]
§ 35-903 – Arizona finance authority designated as state registry; fee
35-903. Arizona finance authority designated as state registry; fee A. The Arizona finance authority is designated as the exclusive state registry for: 1. Requests. 2. Recordation of confirmations, whether outstanding or lapsed. 3. Certificates of closing. 4. Recordation of all requests for carry-forward amounts for specific projects. 5. Other records required for the administration of […]
§ 35-904 – Obtaining and issuing confirmations
35-904. Obtaining and issuing confirmations A. Subject to section 35-905, a confirmation allocating a portion of the state ceiling to a project must be obtained before the sale or issuance of bonds or mortgage credit certificates by the issuer. A confirmation may be obtained by filing with the authority a request and evidence of an […]
§ 35-905 – Restrictions on confirmations; definition
35-905. Restrictions on confirmations; definition A. Before December 17, a confirmation shall not be allocated to a project in an amount greater than thirty-five million dollars, except that this subsection does not apply to any project that is eligible to receive an allocation pursuant to section 35-902, subsection B, C or E. For the purposes […]
§ 35-906 – Allocations obtained after March 31 through 5:00 p.m. December 16
35-906. Allocations obtained after March 31 through 5:00 p.m. December 16 A. Any portions of the state ceiling, including any portions of the state ceiling subject to a confirmation for which bonds have not been issued or for which a qualified mortgage credit certificate program has not been established by 5:00 p.m. on March 31, […]
§ 35-907 – Allocations after 5:00 p.m. December 16
35-907. Allocations after 5:00 p.m. December 16 A. Any portions of the state ceiling for which bonds have not been issued by 5:00 p.m. December 16, other than confirmations extended pursuant to section 35-910, shall be pooled and are subject to allocation by the director to projects eligible for a carry-forward allocation under the code. […]
§ 35-908 – Principal amount of bonds issued less than confirmation; fee
35-908. Principal amount of bonds issued less than confirmation; fee A confirmation is effective as to bonds or mortgage credit certificates issued in lesser amounts than the principal amount set forth in the confirmation, but for bonds issued after 5:00 p.m. June 1, if the principal amount of bonds issued is less than the principal […]
§ 35-909 – Confirmation fees
35-909. Confirmation fees On the earlier of three business days after notice of issuance of the confirmation pursuant to section 35-904, subsection H or the filing of a certificate of closing, the authority shall be paid a nonrefundable confirmation fee of three hundred twenty dollars per million dollars for which a confirmation is issued. The […]
§ 35-910 – Extension of confirmations
35-910. Extension of confirmations A. A confirmation may be extended one time for up to ninety days but not later than December 16 on providing the authority with a security deposit equal to one per cent of the principal amount set forth in the confirmation. The security deposit and request for extension shall be submitted […]