S.C. Code Regs. 19-103.04 - Authorized Requests for an Allocation
(a) For purposes of Reg. 19-103.02, an
Authorized Request shall mean, for any bonds issued by issuing authorities
other than State Agencies, a request contained in a petition to the Budget and
Control Board that a portion of the State Ceiling be allocated to the bonds for
which the petition has been filed, accompanied by a copy of the Inducement
Contract, Inducement Resolution, or comparable preliminary approval on such
bonds entered into by such issuing authority. A copy of such Authorized Request
shall be forwarded promptly by the Budget and Control Board to the Joint Bond
Review Committee for information.
(b) For private activity bonds proposed for
issuance by any State Agency, an Authorized Request shall mean a petition filed
with the Budget and Control Board not sooner than the adoption of a bond
ordinance or bond resolution authorizing the issuance of such bonds. A copy of
such Authorized Request shall be forwarded promptly by the Budget and Control
Board to the Joint Bond Review Committee for information.
(c) Each Authorized Request must demonstrate
that the allocation amount requested constitutes all of the private activity
bond financing contemplated at the time for the project and any other
facilities located at or used as a part of an integrated operation with the
project.
Notes
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