(1) A state or municipal issuer seeking to issue bonds shall file with the treasurer a request for allocation containing all of the following information and supporting documentation unless the treasurer determines the information required would be unnecessary to the type of bond for which an allocation is requested:
  (a) The name of the issuer.

Terms Used In Michigan Laws 12.115

  • Bonds: means private activity bonds subject to the unified volume limitation and any other bonds, notes, and evidences of indebtedness, including certain lease and installment purchase obligations, that would be treated by the internal revenue service as private activity bonds unless issued with an allocation from the unified volume limitation. See Michigan Laws 12.112
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Issuer: means a municipal issuer or a state issuer. See Michigan Laws 12.112
  • Municipal issuer: means a city, village, township, county, school district, or community college district, or an agency, instrumentality, authority, or district created by 1 or more of the foregoing that is authorized by law to issue bonds. See Michigan Laws 12.112
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Treasurer: means the state treasurer or a deputy or employee of the department of treasury that the state treasurer authorizes to act under this act. See Michigan Laws 12.112
  (b) The maximum aggregate principal amount of the issue.
  (c) In the case of refunding bonds, the maximum principal amount of the proposed issue, if any, expected to exceed the amount of the obligation to be refunded.
  (d) The facility to be financed.
  (e) The name of the entity or principals of the entity, or both, that will own the facility to be financed by the proceeds of the issue.
  (f) The name of the principal users, if known, of the facility.
  (g) The name of the counsel giving the tax exempt opinion for the issuer on the bond.
  (h) The calendar year for which the request is made.
  (i) Whether a previous request has been made by or on behalf of the issuer for the issue.
  (j) The facility type code used in filing federal form 8038, or its successor form.
  (k) Whether urban development action grants are being sought for the project.
  (l) Whether all necessary public hearings have been held.
  (m) A statement of how and why the project qualifies under the standards of section 6(3).
  (n) Other information that is considered necessary by the treasurer.
  (2) Except as provided in subsection (3) and except for carryforward allocations approved pursuant to section 10, a municipal issuer shall attach to a request for allocation an inducement resolution, or other comparable preliminary approval, and evidence of a firm commitment of an investor or underwriter to purchase the bonds described in the request, or other evidence sufficient to indicate the transaction will be completed. Satisfaction of the requirement of subsection (3) is satisfaction of the requirement under this subsection for evidence of a firm commitment of an investor or underwriter to purchase the bonds.
  (3) If bonds are to be sold at public sale and involve publication of a notice of sale for the issue, the issuer of the bonds shall file or cause to be filed with its request for allocation a copy of the proposed notice of sale and shall certify to the state treasurer that all proceedings preliminary to the publication of the notice of sale have been completed.
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