An Application for an Exempt Facility Project must demonstrate that there will be more public benefits (e.g. a reduction in fees to the consumer) if the Project is financed with tax-exempt Bond financing than with any other means of financing available to the Project Sponsor. At a minimum, documentation must compare tax-exempt Bond financing with other means of financing available to the Project Sponsor, such as conventional bank loans, lines of credit, taxable bonds, and other instruments.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c), 8869.85(a) and 8869.85(b), Government Code.

History

1. New article 3 (sections 5420-5423) and section filed 7-29-2010 as an emergency; operative 7-29-2010 (Register 2010, No. 31). A Certificate of Compliance must be transmitted to OAL by 1-25-2011 or emergency language will be repealed by operation of law on the following day.

2. New article 3 (sections 5420-5423) and section refiled 1-6-2011 as an emergency; operative 1-6-2011 (Register 2011, No. 1). A Certificate of Compliance must be transmitted to OAL by 4-6-2011 or emergency language will be repealed by operation of law on the following day.

3. New article 3 (sections 5420-5423) and section refiled 4-1-2011 as an emergency; operative 4-6-2011 (Register 2011, No. 13). A Certificate of Compliance must be transmitted to OAL by 7-5-2011 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 4-1-2011 order, including amendment of section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).