NAC348A.260. Certificates: Issuance of bonds; transfer of volume cap.

     1. The Director, any state agency, any local government and any local agency which issues private activity bonds subject to the limitations established in the Code shall file a certificate with the Office of Business Finance and Planning describing the amount of the bonds and the purpose for which they were issued. The certificate must be filed within 15 days after the date on which the bonds are issued.

     2. A local government shall or the Director will, within 5 days after transferring any portion of the volume cap of the local government or the allocation of the state ceiling under the control of the Director, file a certificate with the Office of Business Finance and Planning indicating that the transfer was made. The transfer becomes effective on the date on which the certificate is filed with the Office of Business Finance and Planning.

     3. If good cause is shown, the Special Committee may grant upon referral from the Director a variance from the provisions of this section if the variance does not cause the amount of private activity bonds issued for the calendar year to exceed the state ceiling.

     (Added to NAC by Dep’t of Commerce, eff. 2-18-88; A by Dep’t of Business & Industry by R095-05, 10-31-2005)