7C.11 Priority allocations.
Notwithstanding any other provision of this chapter, the governor’s designee shall give priority in allocation of the state ceiling not yet allocated to bonds which must be issued and delivered on or prior to December 31 of the calendar year in order for the interest on the bonds to be exempt from federal income taxation. Applications for an allocation with respect to these bonds shall be accompanied by an opinion of a nationally recognized bond counsel to the effect that the bonds must be issued and delivered on or prior to December 31 in that calendar year in order for the interest on the bonds to be exempt from federal income taxation.
85 Acts, ch 225, §13; 87 Acts, ch 171, §11
Referred to in §7C.4A, 7C.7, 7C.12
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 7C - PRIVATE ACTIVITY BOND ALLOCATION ACT
Section 7C.2 - Declaration of intent.
Section 7C.4 - Maximum amount of bonds.
Section 7C.4A - Allocation of state ceiling.
Section 7C.5 - Formula for allocation.
Section 7C.6 - Application for allocation.
Section 7C.7 - Certification of allocation.
Section 7C.8 - State ceiling carryforwards.
Section 7C.9 - Nonbusiness days.
Section 7C.10 - Resubmission of expired allocations.
Section 7C.11 - Priority allocations.
Section 7C.12 - Authority and duties of the governor and governor’s designee.
Section 7C.13 - Qualified student loan bond issuer — open records and meetings — oversight.