§39B-1 Definitions. Whenever used in this [chapter], unless a different meaning clearly appears from the context: “Annual state ceiling” means the principal amount of private activity bonds which may be issued in each calendar year by all issuers and counties in the State under the Internal Revenue Code of 1986, as the same may be […]
§39B-2 Allocation of annual state ceiling. (a) The annual state ceiling shall be allocated for each calendar year in the following proportions: (1) An amount equal to fifty per cent of the annual state ceiling to the State; (2) An amount equal to 37.55 per cent of the annual state ceiling to the city and […]
§39B-3 Application of allocation. The extent to which all or any part of an allocation made to a county or an issuer pursuant to section 39B-2 is applied to a project subject to the annual state ceiling shall be evidenced by a certificate of the issuer or the director of finance of a county, as […]
§39B-4 Report of unused allocation; reversion to State. The director of finance of each county shall report to the department in writing by December 15 of each year as to the amount of allocation to such county which has not been applied to private activity bonds in such year or assigned pursuant to this chapter. […]
