North Dakota Code 21-12-04 – Requirements of allocations
The governor may establish, by executive order or proclamation, other procedures and requirements for the proper allocation of the ceiling, which may include the following:
Terms Used In North Dakota Code 21-12-04
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
- year: means twelve consecutive months. See North Dakota Code 1-01-33
1. The procedure for notification of approval or disapproval of application for an allocation.
2. The period during which the private activity bonds must be issued under an allocation and a procedure for applying for an extension of that period.
3. A procedure for authorizing a carryforward to a governmental unit of all or a portion of the excess of North Dakota’s ceiling for any calendar year over the aggregate amount of tax-exempt private activity bonds actually issued during that calendar year by governmental units, to the extent and for the period for which a purpose is eligible to be treated as a carryforward project under the Tax Reform Act.
4. Whether an allocation validly granted may be transferred between projects and purposes by governmental units.
5. A procedure for reapplication if a request for an allocation by a governmental unit has been disapproved.
6. A procedure for recapturing an allocation for which the period during which the allocation is valid has expired.
7. Any additional procedures or requirements which the governor determines to be necessary for the proper administration and to carry out the purposes of this chapter.