(b)

1. (1) Issuance, for purposes of this part, shall be evidenced by bond counsel filing a notice of issuance with the President of the Arkansas Development Finance Authority.

2. (2) The notice shall contain the:

   1. (A) Name of the issue;
   2. (B) Date of the issue;
   3. (C) Priority number;
   4. (D) Reservation date; and
   5. (E) Volume cap allocated delineated by the current year volume cap amount and carryforward volume cap by year and amount.
3. (3) The notice shall be signed and dated by bond counsel.
4. (4) The authority may create a form of notice of issuance containing the information required by this subsection.

5. (5) Upon receipt of the notice, the president will execute and deliver a certificate of allocation of volume cap that complies with the requirements of:

   1. (A) 26 U.S.C. § 149(e)(2)(F);
   2. (B) 26 C.F.R. § 1.149(e)-1(b)(2); and
   3. (C) Form 8038 published by the United States Department of the Treasury, Internal Revenue Service.