reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.16 - Prehearing Conference

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Any
			 party may request a prehearing conference. A written request for prehearing
			 conference or an order for prehearing conference on the presiding officer's own
			 motion shall be filed not less than seven days prior to the hearing date. A
			 prehearing conference shall be scheduled not less than three business days
			 prior to the hearing date.
Written notice of the prehearing conference shall be given by
				or on behalf of the authority to all parties. For good cause the presiding
				officer may permit variances from this rule.
(2) Each party shall bring to the prehearing
			 conference:
a. A final list of the witnesses
			 who the party anticipates will testify at hearing. Witnesses not listed may be
			 excluded from testifying unless there was good cause for the failure to include
			 their names; and
b. A final list of
			 exhibits which the party anticipates will be introduced at hearing. Exhibits
			 other than rebuttal exhibits that are not listed may be excluded from admission
			 into evidence unless there was good cause for the failure to include
			 them.
c. Witness or exhibit lists
			 may be amended subsequent to the prehearing conference within the time limits
			 established by the presiding officer at the prehearing conference. Any such
			 amendments must be served on all parties.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.17 - Continuances

Current through Register Vol. 47, No. 3, July 24, 2024
Unless otherwise provided, applications for continuances shall
				be made to the presiding officer
(1) A
			 written application for a continuance shall:
a. Be made at the earliest possible time and
			 no less than seven days before the hearing except in case of unanticipated
			 emergencies;
b. State the specific
			 reasons for the request; and
c. Be
			 signed by the requesting party or the party's representative.
An oral application for a continuance may be made if the
				presiding officer waives the requirement for a written motion. However, a party
				making such an oral application for a continuance must confirm that request by
				written application within five days after the oral request unless that
				requirement is waived by the presiding officer No application for continuance
				shall be made or granted without notice to all parties except in an emergency
				where notice is not feasible. The authority may waive notice of such requests
				for a particular case or an entire class of cases.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.19 - Intervention

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Motion.
A motion for leave to intervene in a contested case
			 proceeding shall state the grounds for the proposed intervention, the position
			 and interest of the proposed intervenor, and the possible impact of
			 intervention on the proceeding. A proposed answer or petition in intervention
			 shall be attached to the motion. Any party may file a response within 14 days
			 of service of the motion to intervene unless the time period is extended or
			 shortened by the presiding officer
(2)
When filed.
Motion for
			 leave to intervene shall be filed as early in the proceeding as possible to
			 avoid adverse impact on existing parties or the conduct of the proceeding.
			 Unless otherwise ordered, a motion for leave to intervene shall be filed before
			 the prehearing conference, if any, or at least 20 days before the date
			 scheduled for hearing. Any later motion must contain a statement of good cause
			 for the failure to file in a timely manner Unless inequitable or unjust, an
			 intervenor shall be bound by any agreement, arrangement, or other matter
			 previously raised in the case. Requests by untimely intervenors for
			 continuances which would delay the proceeding will ordinarily be
			 denied.
(3)
Grounds for
			 intervention.
The movant shall demonstrate that:
(a) intervention would not unduly prolong the
			 proceedings or otherwise prejudice the rights of existing parties;
(b) the movant is likely to be aggrieved or
			 adversely affected by a final order in the proceeding; and
(c) the interests of the movant are not
			 adequately represented by existing parties.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.20 - Hearing Procedures

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The
			 presiding officer presides at the hearing, and may rule on motions, require
			 briefs, issue a proposed decision, and issue such orders and rulings as will
			 ensure the orderly conduct of the proceedings.
(2) All objections shall be timely made and
			 stated on the record.
(3) Parties
			 have the right to participate or to be represented in all hearings or
			 prehearing conferences related to their case. Partnerships, corporations, or
			 associations may be represented by any member, officer, director, or duly
			 authorized agent. Any party may be represented by an attorney or another person
			 authorized by law.
(4) Subject to
			 terms and conditions prescribed by the presiding officer, parties have the
			 right to introduce evidence on issues of material fact, cross-examine witnesses
			 present at the hearing as necessary for a full and true disclosure of the
			 facts, present evidence in rebuttal, and submit briefs and engage in oral
			 argument.
(5) The presiding officer
			 shall maintain the decorum of the hearing and may refuse to admit or may expel
			 anyone whose conduct is disorderly.
(6) Witnesses may be sequestered during the
			 hearing.
(7) The presiding officer
			 shall conduct the hearing in the following manner:
a. The presiding officer shall give an
			 opening statement briefly describing the nature of the proceedings;
b. The parties shall be given an opportunity
			 to present opening statements;
c.
			 Parties shall present their cases in the sequence determined by the presiding
			 officer;
d. Each witness shall be
			 sworn or affirmed by the presiding officer or the court reporter, and be
			 subject to examination and cross-examination. The presiding officer may limit
			 questioning in a manner consistent with law;
e. When all parties and witnesses have been
			 heard, parties may be given the opportunity to present final
			 arguments.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.21 - Evidence

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The presiding
			 officer shall rule on admissibility of evidence and may, where appropriate,
			 take official notice of facts in accordance with all applicable requirements of
			 law.
(2) Stipulation of facts is
			 encouraged. The presiding officer may make a decision based on stipulated
			 facts.
(3) Evidence in the
			 proceeding shall be confined to the issues as to which the parties received
			 notice prior to the hearing unless the parties waive their right to such notice
			 or the presiding officer determines that good cause justifies expansion of the
			 issues. If the presiding officer decides to admit evidence on issues outside
			 the scope of the notice over the objection of a party who did not have actual
			 notice of those issues, that party, upon timely request, shall receive a
			 continuance sufficient to amend pleadings and to prepare on the additional
			 issue.
(4) The party seeking
			 admission of an exhibit must provide opposing parties with an opportimity to
			 examine the exhibit prior to the ruling on its admissibility. Copies of
			 documents should normally be provided to opposing parties.
All exhibits admitted into evidence shall be appropriately
				marked and be made part of the record.
(5) Any party may object to specific evidence
			 or may request limits on the scope of any examination or cross-examination.
			 Such an objection shall be accompanied by a brief statement of the grounds upon
			 which it is based. The objection, the ruling on the objection, and the reasons
			 for the ruling shall be noted in the record. The presiding officer may rule on
			 the objection at the time it is made or may reserve a ruling until the written
			 decision.
(6) Whenever evidence is
			 ruled inadmissible, the party offering that evidence may submit an offer of
			 proof on the record. The party making the offer of proof for excluded oral
			 testimony shall briefly summarize the testimony or, with permission of the
			 presiding officer, present the testimony. If the excluded evidence consists of
			 a document or exhibit, it shall be marked as part of an offer of proof and
			 inserted in the record.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.24 - Recording Costs

Current through Register Vol. 47, No. 3, July 24, 2024
Upon request, the authority shall provide a copy of the whole
				or any portion of the record at cost. The cost of preparing a copy of the
				record or of transcribing the hearing record shall be paid by the requesting
				party.
Parties who request that a hearing be recorded by certified
				shorthand reporters rather than by electronic means shall bear the cost of that
				recordation, unless otherwise provided by law.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.25 - Interlocutory Appeals

Current through Register Vol. 47, No. 3, July 24, 2024
Upon written request of a party or on its own motion, the board
				of the authority may review an interlocutory order of the presiding officer. In
				determining whether to do so, the board shall weigh the extent to which its
				granting the interlocutory appeal would expedite final resolution of the case
				and the extent to which review of that interlocutory order by the board at the
				time it reviews the proposed decision of the presiding officer would provide an
				adequate remedy. Any request for interlocutory review must be filed within 14
				days of issuance of the challenged order, but no later than the time for
				compliance with the order or the date of hearing, whichever is
				first.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.26 - Posthearing Procedures and Orders

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Filing by parties of briefs and
			 proposed findings.
The presiding officer may ask the parties to submit
			 proposed findings and conclusions of law and a proposed order or briefs. Copies
			 of the submission shall be served on all parties. The submission schedule,
			 including waiver or briefs, shall be determined at the close of the
			 hearing.
(2)
Final decision
			 or order
a. When a quorum of the
			 entire board of the authority presides over the reception of evidence at the
			 hearing, its decision is a final decision. The decision shall be in writing and
			 shall include findings of fact and conclusions of law in conformance with Iowa
			 Code chapter 17A.
b. In a contested
			 case in which the hearing is held before an administrative law judge or a panel
			 of the authority's board members constituting less than a quorum of the board,
			 the presiding officer or panel shall render a proposed decision. The proposed
			 decision shall be in writing and shall include findings of fact and conclusions
			 of law in conformance with Iowa Code chapter I7A. The proposed decision becomes
			 the final decision of the authority without further proceedings unless there is
			 an appeal to, or review on motion of, the authority within 30 days.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.27 - Appeals and Review

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Appeal by party.
Any adversely affected party may appeal a
			 proposed decision to the board of the authority within 30 days after issuance
			 of the proposed decision.
(2)
Review.
The board of the authority may initiate review of a
			 proposed decision on its own motion at any time within 30 days following the
			 issuance of such a decision.
(3)
Notice of appeal.
An appeal of a proposed decision is
			 initiated by filing a timely notice of appeal with the authority. The notice of
			 appeal must be signed by the appealing party or a representative of that party
			 and contain a certificate of service. If a member of the authority's board or
			 the authority initiates review of a proposed decision, the executive director
			 shall mail a notice of review to all parties. The notice of appeal or the
			 notice of review shall specify:
a. The parties
			 initiating the appeal;
b. The
			 proposed decision or order appealed from;
c. The specific findings or conclusions to
			 which exception is taken and any other exceptions to the decision or
			 order;
d. The relief
			 sought;
e. The grounds for
			 relief.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.28 - Applications for Rehearing

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
By whom filed.
Any party to a contested case proceeding may
			 file an application for rehearing from a final order
(2)
Content of application.
The application for rehearing shall state on whose behalf it is filed, the
			 specific grounds for rehearing, and the relief sought. In addition, the
			 application shall state whether the applicant desires reconsideration of all or
			 part of the authority decision on the existing record and whether, on the basis
			 of the grounds enumerated in subrule 7.27(4), the applicant requests an
			 opportimity to submit additional evidence.
(3)
Time of filing.
The
			 application shall be filed with the authority within 20 days after issuance of
			 the final decision.
(4)
Notice to other parties. A
copy of the application shall be
			 timely mailed by the applicant to all parties of record not joining therein. If
			 the application does not contain a certificate of service, the authority shall
			 serve copies on all parties.
(5)
Disposition.
Any application for a rehearing shall be deemed
			 denied unless the authority grants the application within 20 days after its
			 filing.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.29 - Stays of Authority Actions

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
When available.
a. Any party to a contested case proceeding
			 may petition the authority for a stay of an order issued in that proceeding or
			 for other temporary remedies, pending review by the authority. The petition
			 shall be filed with the notice of appeal and shall state the reasons justifying
			 a stay or other temporary remedy. The authority may rule on the stay or
			 authorize the presiding officer to do so.
b. Any party to a contested case proceeding
			 may petition the authority for a stay or other temporary remedies pending
			 judicial review of all or part of that proceeding. The petition shall state the
			 reasons justifying a stay or other temporary remedy.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.30 - No Factual Dispute Contested Cases

Current through Register Vol. 47, No. 3, July 24, 2024
If the parties agree that no dispute of material fact exists as
				to a matter that would be a contested case if such a dispute of fact existed,
				the parties may present all relevant admissible evidence either by stipulation
				or otherwise as agreed by the parties, without necessity for the production of
				evidence at an evidentiary hearing. If such agreement is reached, a jointly
				submitted schedule detailing the method and timetable for submission of the
				record, briefs and oral argument should be submitted to the presiding officer
				for approval as soon as practicable. If the parties cannot agree, any party may
				file and serve a motion for summary judgment pursuant to the rules governing
				such motions.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.31 - Emergency Adjudicative Proceedings

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Necessary emergency
			 action.
To the extent necessary to prevent or avoid immediate danger
			 to the public health, safety, or welfare and, consistent with the Constitution
			 and other provisions of law, the authority may issue a written order in
			 compliance with 1998 Iowa Acts, chapter 1202, section 21, to suspend a license
			 in whole or in part, order the cessation of any continuing activity, order
			 affirmative action, or take other action within the jurisdiction of the
			 authority by emergency adjudicative order. Before issuing an emergency
			 adjudicative order the authority shall consider factors including, but not
			 limited to, the following:
a. Whether there
			 has been a sufficient factual investigation to ensure that the authority is
			 proceeding on the basis of reliable information;
b. Whether the specific circumstances which
			 pose immediate danger to the public health, safety or welfare have been
			 identified and determined to be continuing;
c. Whether the person required to comply with
			 the emergency adjudicative order may continue to engage in other activities
			 without posing immediate danger to the public health, safety or
			 welfare;
d. Whether imposition of
			 monitoring requirements or other interim safeguards would be sufficient to
			 protect the public health, safety or welfare; and
e. Whether the specific action contemplated
			 by the authority is necessary to avoid the immediate danger.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 7 - Contested Cases › Rule 265-7.32 - Informal Procedure Prior to Hearing

Current through Register Vol. 47, No. 3, July 24, 2024
Any person who desires to pursue informal settlement of any
				contested case may make a request for an informal settlement to the executive
				director When the authority is a party, all informal settlements shall be made
				by the executive director All informal settlements are subject to ratification
				by the authority. A request for informal settlement should be received by the
				executive director not less than 15 days before the board meeting at which it
				is to be considered. The executive director shall schedule consideration of the
				request at the next regular board meeting occurring more than 15 days after the
				request for an informal settlement is made. Not more than 10 days after the
				authority meeting at which the request is scheduled for consideration, the
				executive director will notify the petitioner in writing of the authority's
				disposition of the request. If the authority determines that a conference is
				appropriate, the party will be notified when, where, and with whom such a
				conference is to be held. The terms of any settlement agreed to by the parties
				shall be embodied in a written stipulation. Upon receipt of the request, all
				formal contested case procedures are stayed, except in the case of emergency
				orders as provided in rule 7.31(17A). If informal settlement is unsuccessful,
				formal contested case proceedings may be instituted in accordance with rule
				7.5(17A).
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.1 - General

Current through Register Vol. 47, No. 3, July 24, 2024
The governor has appointed the executive director of the Iowa
				finance authority as the governor's designee responsible for administration of
				the law which establishes procedures for allocation of private activity bonds
				as defined in Section 141 of the Internal Revenue Code. Procedures set out in
				the law and in these rules shall be followed in allocating the private activity
				bond state ceiling ("state ceiling") between cities, counties and the state of
				Iowa.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.2 - Forms and Applications

Current through Register Vol. 47, No. 3, July 24, 2024
Information and forms necessary for compliance with provisions
				of the law are available upon request from the Iowa Finance Authority at the
				address set forth in rule
				265-1.3 (16) or on the website
				at iowafinanceauthority.gov. The telephone number of the authority is
				(515)725-4900. The facsimile number of the authority is (515)725-4901.
(1) An issuer or beneficiary, or the duly
			 authorized agent of an issuer or beneficiary, must make an application by
			 filing the form, available from the governor's designee, entitled "Private
			 Activity Volume Cap Application" for the allocation of a portion of the private
			 activity bond state ceiling allocated pursuant to Iowa Code chapter 7C.
			 Applications may be submitted electronically or via email or facsimile. An
			 application for current year allocation or carryforward allocation may be
			 submitted at any time.
(2) An
			 application for allocation may be made only after the governing body of an
			 issuer has adopted a resolution evidencing an intent to issue the
			 bonds.
(3) An application must be
			 accompanied by the application fee set forth in rule
			 265-8.10 (7C), and all required
			 attachments to the application must be submitted before such application is
			 considered for allocation under rule
			 265-8.5 (7C).
(4) An application for allocation for
			 industries under Iowa Code section
			 7C.4A(5)
			  is limited to $10 million per project per
			 calendar year.
(5) The state
			 ceiling allocated under Iowa Code sections
			 7C.4A(4),
			 7C.4A(5),
			 7C.4A(6)
			  and
			 7C.4A(7)
			  shall be allocated among all issuers as
			 provided in rules 265-8.3 (7C) and
			 265-8.4 (7C).
This rule is intended to implement Iowa Code sections
				7C.4,
				7C.5 and
				7C.6.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.4 - Application for Current Allocation Received During the Calendar Year

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Applications
			 for current allocation for any given calendar year may be submitted to the Iowa
			 finance authority offices at any time during the calendar year.
(2) Complete applications received during the
			 calendar year will be allocated for each applicable purpose (other than
			 applications for which the Iowa finance authority determines, in its sole
			 discretion, to make an allocation under Iowa Code section
			 7C.4A(1)
"a"(4)
pursuant to subrule 8.5(3) and subject to subrule
			 8.5(2)) in the order such application is received.
This rule is intended to implement Iowa Code sections
				7C.4A
				and 7C.5.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.6 - State Ceiling Carryforwards

Current through Register Vol. 47, No. 3, July 24, 2024
In the event the aggregate principal amount of bonds issued by
				all issuers in a calendar year is less than the state ceiling for that calendar
				year, then an issuer or beneficiary may apply to the governor's designee for an
				allocation of a specified portion of the excess state ceiling to be applied to
				a specified carryforward project. The application must be in writing and shall
				comply with the carryforward provisions of Section 146(f) of the Internal
				Revenue Code and regulations promulgated under that section. Any carryforward
				allocation that has not expired under Section 146 of the Internal Revenue Code
				released by the original applicant may be allocated to any other applicant for
				allocation for the same purpose for which the original application was
				made.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.7 - Expiration of Applications and Allocations

Current through Register Vol. 47, No. 3, July 24, 2024
(1) All applications for current allocation
			 received in any calendar year shall expire 120 days after the date of
			 certification of allocation; provided that, before the expiration of the
			 120-day period, the issuer or beneficiary may make a request in writing to the
			 governor's designee for an extension of not more than 30 days after the
			 expiration of the 120-day period. Such request for extension shall be
			 accompanied by an agreement among the issuer, the proposed purchaser of the
			 bonds, and the beneficiary showing an intent of the proposed purchaser to
			 purchase the bonds.
(2) If the
			 expiration date of either the 120-day period or any 30-day extension period is
			 a Saturday, Sunday or any day on which the offices of the state banking
			 institutions or savings and loan associations in the state are authorized or
			 required to close, the expiration date is extended to the first day thereafter
			 which is not a Saturday, Sunday or previously described day.
(3) All applications for current allocation
			 received in any calendar year which do not otherwise expire under subrules
			 8.7(1) and 8.7(2) shall expire as of December 24 of that year except for
			 applications for current year allocation for bonds described in Iowa Code
			 section 7C. 11, which expire on December 31 of that year.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.8 - Resubmission of Expired Allocations

Current through Register Vol. 47, No. 3, July 24, 2024
If an allocation expires, the issuer may resubmit its
				application for the same project or purpose. However, the resubmitted
				application shall be treated as a new application, and preference, priority or
				prejudice shall not be given to the application or the issuer as a result of
				the prior application.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.9 - Use by Political Subdivisions

Current through Register Vol. 47, No. 3, July 24, 2024
With respect to the amount of the state ceiling allocated for
				the purpose of private activity bonds issued by political subdivisions, the
				proceeds of which are used by the issuing political subdivisions under Iowa
				Code section 7C.4A(6), the political subdivision must use the proceeds to
				finance a project owned or utilized directly by the political subdivision, or
				finance a program of the political subdivision which the legislature by statute
				has authorized or directed the political subdivision to implement.
This rule is intended to implement Iowa Code section
				7C.4A(6).
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 8 - Private Activity Bond Allocation › Rule 265-8.10 - Application and Allocation Fees

Current through Register Vol. 47, No. 3, July 24, 2024
The Iowa finance authority may charge reasonable fees for
				providing administrative assistance with regard to the filing of applications
				and the allocation of the private activity bond state ceiling in accordance
				with these rules. A fee of 2 basis points (.02%) of the amount of state ceiling
				for which application is made shall be paid by the applicant upon filing the
				application with the governor's designee.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.3 - Mission

Current through Register Vol. 47, No. 3, July 24, 2024
The mission of the division is to operate a program that offers
				guaranties of real property titles in order to provide, as an adjunct to the
				abstract-attorney's title opinion system, a low-cost mechanism to facilitate
				mortgage lenders' participation in the secondary market and add to the
				integrity of the land-title transfer system in the state of Iowa and to perform
				other duties as assigned by Iowa law. Surplus funds generated by the division
				shall be transferred to the authority's housing assistance fund after providing
				for adequate reserves and for the operating expenses of the
				division.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.4 - Organization

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Location.
The office of the division is located at the address
			 set forth in rule 265-1.3 (16). Office hours are 8
			 a.m. to 4:30 p.m. Monday through Friday, excluding legal holidays. The
			 division's website address is
www.iowatitleguaranty.gov
, and
			 the division's telephone and facsimile numbers are as follows: (515)725-4900
			 (general telephone number); 1-800-432-7230 (toll-free telephone number); and
			 (515)725-4901 (facsimile). The division's email address is
			 titleguaranty@iowa.gov. Inquiries, submissions, applications and other requests
			 for information may be directed to the division at the address set forth
			 herein. Requests may be made personally or by telephone, fax, mail or
			 email.
(2)
Division
			 board.
A chair and vice chair shall be elected annually by the members
			 of the division board at the first quarterly meeting following July 1 of each
			 year, which is the beginning of the division's fiscal year.
(3)
Meetings.
Meetings of
			 the division board shall generally be held quarterly on the date and time
			 determined by the division board. Meetings of the division board may also be
			 held at the call of the chair or on written request of two division board
			 members. The division will give advance public notice of the specific date,
			 time and place of each division board meeting. At least 24 hours before
			 commencement of a division board meeting, the division will post the tentative
			 agenda at the office of the division and on the division's website. Division
			 board meetings may be conducted by conference call. Any person may attend and
			 observe division board meetings except for any portion of a division board
			 meeting that may be closed pursuant to Iowa Code section
			 21.5. The minutes
			 of the division board meetings are available at the office of the division and
			 on the division's website. Three members of the division board constitute a
			 quorum. An affirmative vote of a majority of the division board members is
			 necessary for any substantive action taken by the division board. The majority
			 shall not include any division board member who has a conflict of interest, and
			 a statement of a conflict of interest shall be conclusive for this
			 purpose.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.5 - Operation

Current through Register Vol. 47, No. 3, July 24, 2024
The division offers guaranties of real property titles in the
				state through the issuance of commitments and certificates.
(1)
Commitments, certificates, forms
			 and manuals.
The terms, conditions, and form of commitments and
			 certificates shall be approved by the division board. The division may adopt
			 and use manuals and other forms as the division deems necessary for
			 implementation and administration of the title guaranty program.
a. The division will provide forms to a
			 participant for use in issuing commitments and certificates on behalf of the
			 division. A participant may not alter any form supplied by the division or use
			 a form supplied by another person to bind the division. In addition, the
			 participant shall not transfer or attempt to transfer unissued commitments or
			 certificates to another participant or other person unless authorized in
			 writing by the division.
b. If a
			 participant fails to comply with the requirements of this rule, in addition to
			 the division's other rights and remedies, the division may refuse to allow the
			 participant access to any forms until the participant complies with the
			 requirements of this chapter to the satisfaction of the division.
c. A participant shall be liable to the
			 division for loss or damage sustained by the division by reason of the loss of,
			 misuse of, or inability of the participant to account for any form supplied by
			 the division, or the failure of the participant to comply with the requirements
			 of this rule.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.6 - Participants

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
General
			 provisions.
An applicant shall submit a participant application and
			 the first year's annual fee and shall sign a participation agreement in order
			 to be authorized to provide one or more services on behalf of the division.
(2)
Participant
			 application.
Applications for participation and renewal are available
			 on the division's Web site. An applicant shall submit an application to provide
			 one or more services on behalf of the division. If the applicant is approved as
			 a participant, the participant is required to submit a renewal application
			 annually.
(3)
Eligibility
			 considerations.
In determining whether to approve or deny a
			 participant application, the division may consider the following, including but
			 not limited to:
a. The needs of the public and
			 the needs of existing or potential customers of the applicant.
b. A history of the operation and management
			 of the applicant's business.
c. The
			 character, fitness, financial responsibility and experience of the applicant
			 and the applicant's employees.
d. A
			 credit report or criminal background check of the applicant or the applicant's
			 employees.
e. A record of default
			 in the payment of moneys collected for others by the applicant or the
			 applicant's employees.
f. A history
			 of discharge of debts by the applicant or the applicant's employees through
			 bankruptcy proceedings.
g.
			 Compliance with the title and settlement best practices adopted by the
			 division.
h. Other factors as
			 determined by the division.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.8 - Claims

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Claim
			 procedures.
In the event of a claim, the rights of the division and a
			 party are as follows:
a. Upon receipt of
			 notice by a party of a claim, the party must notify the division in writing
			 within three business days of receipt of information about a claim by the party
			 and shall mail notification to the division by first-class mail at the
			 division's address as set forth in subrule 9.4(1). In addition, if the nature
			 of the claim is such that the guaranteed claimant or the division, or both, may
			 suffer loss or damage that might be reduced or avoided by notice given more
			 promptly than required by the preceding sentence, the party shall notify the
			 division by telephone, facsimile transmission, e-mail, overnight mail or other
			 overnight delivery service, or any combination of these methods.
b. When a party receives a request from the
			 division for information with respect to a claim, the party shall supply to the
			 division any documents, correspondence, surveys, abstracts of title, title
			 searches, other writings, or other information known by or available to the
			 party and relevant to the claim, even if not specifically requested by the
			 division.
c. A party shall
			 cooperate fully in the investigation and resolution of a claim and shall supply
			 any additional, new information that may come to the party's attention with
			 such promptness as the circumstances permit.
d. The division may, with or without prior
			 notice to the party or parties involved, investigate and resolve any claim in
			 any manner that, in the division's sole discretion, the division may deem
			 advisable.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.9 - Mortgage Release Certificate

Current through Register Vol. 47, No. 3, July 24, 2024
Pursuant to Iowa Code section
				16.92,
				the division is charged with the administration of a program to release, after
				proper notification, paid-off mortgages from real estate titles in Iowa by
				executing and filing with the county recorder a mortgage release
				certificate.
(1)
Application.
The division shall provide a mortgage release
			 application at the office of the division and on the division's Web site. The
			 following may submit an application for a mortgage release certificate:
a. A person authorized to regularly lend
			 moneys to be secured by a mortgage on real property in Iowa.
b. A licensed real estate broker.
c. A licensed attorney.
d. A participating abstractor.
e. A licensed closing agent.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 9 - Title Guaranty Division › Rule 265-9.10 - Rules of Construction

Current through Register Vol. 47, No. 3, July 24, 2024
In this chapter, the following rules of construction shall be
				observed:
1. The word "shall" means
			 mandatory and not permissive and the word "may" means permissive and not
			 mandatory.
2. Nothing contained in
			 this chapter shall be construed to require a participating attorney to disclose
			 privileged information of a client to the division or to any other
			 person.
3. Any rule that provides a
			 specific remedy or sanction for violation of the rule shall not be construed as
			 limiting the ability of the division to pursue and enforce other remedies or
			 sanctions under this chapter, or otherwise against a participant or other
			 person responsible or liable, either separately, concurrently, cumulatively, or
			 in any combination, at the sole discretion of the division.
4. The failure of the division to enforce a
			 right or remedy under this chapter, a statute, or common law shall not be
			 construed as a waiver of such right or remedy either in the specific instance
			 or in any other instance.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 10 - Mortgage Credit Certificates › Rule 265-10.1 - General

Current through Register Vol. 47, No. 3, July 24, 2024
Mortgage credit certificates (MCCs) were authorized by Congress
				in the 1984 Tax Reform Act as a new concept for providing housing assistance.
				The Iowa finance authority may elect to allocate a portion of its mortgage
				revenue bonding authority for single-family housing toward an MCC program. The
				program will be made available to home buyers through participating Iowa
				lenders on a first-come, first-served basis.
The MCC operates as a federal income tax credit. The MCC tax
				credit will reduce the federal income taxes of qualified home buyers purchasing
				qualified residences, in effect assisting buyers with their house
				payments.
A purchaser of a new or existing single-family residence may
				apply for an MCC through a participating lender at the time of purchasing a
				home and obtaining financing through the lender An MCC cannot be issued to a
				home buyer who is refinancing an existing mortgage or land contract, nor can it
				be used in conjunction with a mortgage financed through a mortgage subsidy
				bond.
MCCs will be made available to home buyers with generally the
				same noncredit eligibility requirements as are in effect for the authority's
				single-family mortgage program. However, mobile and manufactured housing are
				eligible under the MCC program.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 10 - Mortgage Credit Certificates › Rule 265-10.2 - Participating Lenders

Current through Register Vol. 47, No. 3, July 24, 2024
The authority will disseminate a summary of the MCC program to
				mortgage lenders operating within Iowa. Each branch of fice of a mortgage
				lender is deemed to be a separate mortgage lender. Any mortgage lender as
				defined in Iowa Code section
				16.1 may become a
				participating lender by entering into an MCC lender participation agreement
				with the authority. All other participating lenders may take applications for
				MCCs on loans closed after the effective date of the participation agreement.
				The authority shall set and post on its Web site annual participation fees to
				be paid by participating lenders as a condition of participating in the MCC
				program.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 10 - Mortgage Credit Certificates › Rule 265-10.3 - Eligible Borrowers

Current through Register Vol. 47, No. 3, July 24, 2024
To be eligible to receive a mortgage credit certificate, an
				eligible borrower must, on the date the loan is closed:
1. Be a resident of Iowa.
2. Be a purchaser of a single-family
			 residence who will occupy the single-family residence as a permanent, primary,
			 principal residence located within the state.
3. Have the legal capacity to incur the
			 obligations of the loan.
4. Agree
			 not to rent the single-family residence any time during the term of the loan
			 except under special circumstances and with a lease arrangement, the terms and
			 conditions of which are acceptable to the authority.
5. To the extent determined by the authority
			 to assure its MCCs will be qualified mortgage credit certificates pursuant to a
			 qualified mortgage credit certificate program, the authority shall require that
			 the eligible borrower meet the requirements of Section 25 of the Internal
			 Revenue Code and the rules and regulations promulgated thereunder, as well as
			 the requirements set forth in the MCC program guide. Copies of the program
			 guide are available from the authority.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 10 - Mortgage Credit Certificates › Rule 265-10.4 - Mcc Procedures

Current through Register Vol. 47, No. 3, July 24, 2024
Applications for MCCs may be made with any participating
				lender. The applicant shall provide the lender with all information that is
				necessary to secure a mortgage loan and an MCC. An applicant must meet the
				eligibility requirements set out in rule
				265-10.3 (16).
				If the eligibility requirements are met, the participating lenders may
				nonetheless deny a loan, subject to all reporting and disclosure requirements
				of applicable state and federal law, for any reason premised on sound lending
				practices, including underwriting risk evaluation, portfolio diversification,
				and limitations on restrictions on investments or available funds. If the loan
				is approved, the terms of the loan, including interest rate, length of loan,
				down payment, fees, origination charge and repayment schedule, shall not be
				greater than those available to similar customers that do not make application
				for an MCC. However, the lender may collect a one-time MCC commitment fee,
				which may be paid by the borrower, lender, or any other party. An MCC program
				application fee must accompany the MCC application and be submitted to the
				authority by the lender. The amount of the maximum allowable MCC commitment fee
				and the amount of the MCC program application fee shall be set by the authority
				from time to time and posted on the authority's Web site.
No MCC will be issued unless the requirements and procedures
				set out in the MCC program guide are complied with by all parties to the home
				sale and financing.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 11 - Iowa Main Street Loan Program › Rule 265-11.1 - Program Description

Current through Register Vol. 47, No. 3, July 24, 2024
This program is intended to provide financing to facilitate
				upper floor housing, infill development projects and commercial properties
				situated in the downtown area of communities participating in the Iowa main
				street program administered by the Iowa department of economic development
				pursuant to 261-Chapter 39. Loans will be made from a pool of funds legally
				available to the authority. Community development corporations,
				community-initiated development groups and owners or others having an interest
				in property in selected Iowa main street program communities may apply for such
				loans. Applications first reviewed and approved by the Iowa department of
				economic development main street program for project appropriateness shall be
				reviewed by the authority for underwriting purposes.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 11 - Iowa Main Street Loan Program › Rule 265-11.3 - Main Street Loan Program

Current through Register Vol. 47, No. 3, July 24, 2024
The purpose of the program is to assist in stimulating downtown
				economic development within the context of historic preservation and to
				establish a strong public/private partnership to revitalize downtowns and their
				communities by providing financing to facilitate upper floor housing,infill
				development projects and commercial properties situated in the downtown area of
				communities participating in the Iowa main street program.
Iowa Administrative Code › Agency 265 - Iowa Finance Authority › Chapter 11 - Iowa Main Street Loan Program › Rule 265-11.4 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
As used in connection with the Iowa main street loan program,
				the following terms have the meanings indicated.
"Applicant"
means an eligible borrower that
				applies for an Iowa main street loan.
"Application "
means those documents required
				by the participating lender and the authority, which shall include all of the
				information required by rule
				265-2.8
				(16).
"Commercial property"
means property formerly
				or currently used primarily for business, retail, governmental or professional
				purposes.
"Department"
means the Iowa department of
				economic development.
"Downtown area"
means the business area of a
				community that is centrally located within the community within the context of
				the Iowa main street program.
"Eligible borrower"
means owners or others
				having an interest in property situated within the downtown area of a
				participating city, community development corporations associated with a
				participating city, Iowa main street program organizations associated with a
				participating city, community-initiated development groups associated with a
				participating city, or other organization associated with a participating city
				for purposes of implementing the Iowa main street program.
"Financing "
includes loans, mortgages, and
				other financing arrangements to participants in the Iowa main street loan
				program to finance projects approved pursuant to rule 11.7(16).
"Housing"
means housing as defined in Iowa
				Code section
				16.1(14).
"Infill development"
means new construction
				on a vacant commercial lot currently held as open space.
"Participating city"
means a city
				participating in the Iowa main street program.
"Property"
means property owned by the
				applicant or in which the applicant has an interest and for which the applicant
				proposes to expend the funds to be borrowed from the Iowa main street loan
				program.
"Time of application"
means the date a
				participating lender receives an application from a participating
				community.
"Upper floor housing "
means any housing that
				is attached to or contained in the same building as commercial property,
				whether located on the ground floor behind the traditional storefront or on
				other floors of the property.