Bond Allocation—Jefferson Parish Finance Authority
WHEREAS, pursuant to the Tax Reform Act of 1986 and Act 51 of the 1986 Regular Session of the Louisiana Legislature, Executive Order No. BJ 2008-47 was issued to establish:
(1) a method for allocating bonds subject to private activity bond volume limits, including the method of allocating bonds subject to the private activity bond volume limits (hereafter "Ceiling " );
(2) the procedure for obtaining an allocation of bonds under the Ceiling; and
(3) a system of central record keeping for such allocations; and
WHEREAS, the Jefferson Parish Finance Authority has requested an allocation from the 2009 Ceiling to finance the purchase of certain qualifying mortgage loans, secured by mortgages made to qualified individuals for single family residences located within the Parish of Jefferson, Louisiana, through the purchase by the Trustee on behalf of the Authority of mortgage loans and/or mortgage-backed securities issued by FNMA, FHLMC or GNMA with respect to mortgage loans on owner-occupied residential immovable property owned by low and moderate income persons in the Parish of Jefferson to be originated by participating mortgage lenders and guaranteed as to timely payment of principal and interest by the mortgage-backed securities. The mortgage-backed securities will be pledged under the Indenture to the payment of principal and interest on the Bonds, in accordance with the provisions of Section 146 of the Internal Revenue Code of 1986, as amended;
NOW THEREFORE, I, BOBBY JINDAL, Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and the laws of the state of Louisiana, do hereby order and direct as follows:
SECTION 1: The bond issue, as described in this Section, shall be and is hereby granted an allocation from the 2009 Ceiling in the amount shown:
Amount of Allocation
Name of Issuer
Name of Project
Jefferson Parish Finance Authority
Single Family Mortgage Revenue Bonds
SECTION 2: The allocation granted herein shall be used only for the bond issue described in Section 1 and for the general purpose set forth in the "Application for Allocation of a Portion of the State of Louisiana's Private Activity Bond Ceiling" submitted in connection with the bond issue described in Section 1.
SECTION 3: The allocation granted herein shall be valid and in full force and effect through December 31, 2009, provided that such bonds are delivered to the initial purchasers thereof on or before December 15, 2009.
SECTION 4: All references in this Order to the singular shall include the plural, and all plural references shall include the singular.
SECTION 5: This Order is effective upon signature and shall remain in effect until amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.
IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the City of Baton Rouge, on this 20th day of November, 2009.
Secretary of State