Texas Administrative Code › Title 34 - PUBLIC FINANCE › Part 9 - TEXAS BOND REVIEW BOARD › Chapter 190 - ALLOCATION OF STATE'S LIMIT ON CERTAIN PRIVATE ACTIVITY BONDS › Subchapter A - PROGRAM RULES › Section 190.4 - Filing Requirements for Applications for Carryforward

Current through Reg. 49, No. 28; July 12, 2024
(a) Form. Applications must be filed on forms
				  prescribed by the board and must contain all information and documentation
				  required under the Act and this chapter, as applicable.
(b) Application Filing. The issuer shall
				  submit one electronic copy or one original application for carryforward. Each
				  application must be accompanied by the following:
(1) the application fee;
(2) the certificate regarding fees, on the
				  form prescribed by the board;
(3) a
				  copy of the inducement resolution or other similar official action taken by the
				  issuer with respect to the bonds and the project which are the subject of the
				  application, certified by an officer of the issuer; or a copy of the certified
				  resolution of the issuer authorizing the filing of the application for
				  carryforward designation, in either case certified with an authorized signature
				  by an officer of the issuer, and unless the resolution authorizes the issuer to
				  seek a carryforward designation in multiple program years, adopted within 18
				  months of the application date;
(4)
				  a copy of the issuer's articles of incorporation as certified by the secretary
				  of state of Texas and bylaws, including amendments thereto and restatements
				  thereof, or alternatively, a certification with an authorized signature by an
				  authorized representative of the issuer that there have been no amendments to
				  the articles of incorporation or bylaws since the last submission of these
				  items to the board;
(5) a copy of
				  the issuer's certificate of continued existence from the secretary of state of
				  Texas dated within 30 days of submission of application; an issuer's
				  certificate of good standing is not an acceptable substitution for this
				  requirement;
(6) a copy of the
				  borrower's and, if the borrower is a partnership, each partner's certificate of
				  good standing from the comptroller of public accounts of Texas, dated within 30
				  days of submission of application;
(7) documentation evidencing that the project
				  meets all requirements of the elected carryforward priority classification as
				  prescribed by Government Code
				  1372.063
				  - 068;
(8) a written opinion of
				  legal counsel, addressed to the board, to the effect, that the board may rely
				  on the representation contained in the application relating to paragraph (7) of
				  this subsection to fulfill the requirements of the Act;
(9) a written opinion of legal counsel,
				  addressed to the board, stating the bonds are required to be included under the
				  state ceiling and that the issuer is legally authorized to issue bonds for
				  projects of the same type and nature as the project which is the subject of the
				  application. This opinion shall cite by constitutional or statutory reference
				  the provision of the Constitution or law of the state which authorizes the
				  bonds for the project;
(10) for a
				  qualified residential rental project issue, an issuer shall provide a copy of
				  an active executed earnest money contract between the borrower and the seller
				  of the project. The borrower must provide within the close of five business
				  days following the notification of pending designation a copy of an earnest
				  money contract that is in full force and effect or the designation will
				  automatically expire; and
(11) for
				  qualified residential rental project issues where the borrower is an entity
				  that is designated or intends to seek abatement from ad valorem taxation, that
				  intent to seek abatement must be specified on the application for carryforward
				  designation.