Flexible share for 1990

Commencing on April 1, 1990, the flexible share for 1990 is established in an amount equal to 20 percent of the state ceiling. The 1990 percentage shall include any allocations made from the flexible pool prior to April 1, 1990. The flexible share for 1991 and years thereafter shall be in an amount equal to 15 percent of the state ceiling. The flexible share shall be available for notices of allocation given during period 2 through period 4 in 1990 and period 1 through period 4 in 1991 and each year thereafter. History. — Code 1981, § 36-82-193, enacted by Ga. L. 1990, p. 817, § 1. Editor’s notes. — Ga. L. 1990, p. 817, § 1, effective April 4, 1990 repealed former Code Section 36-82-193, as enacted by Ga. L. 1987, p. 486, § 1 and amended by Ga. L. 1989, p. 165, § 7, relating to applications for notices of allocation from the multifamily pool, and enacted the current Code section. 36-82-194. Application for flexible pool allocation; issue of notice; confirmation; expiration. (a) Applications for notices of allocation from the flexible share shall be received and acted on by the department as set forth in this Code section. (b) Applications for housing bonds shall be filed on the same forms and accompanied by the same items as applications for notices of allocation with respect to such bonds from the housing share. Applications for student loan bonds shall be filed on the same forms and accompanied by the same items as required by Code Section 36-82-185 and a written opinion of legal counsel, addressed to the department, to the effect that the bonds which are covered by the application will, based upon information available at that time to such legal counsel, qualify as student loan bonds under Section 144(b) of the Federal Code when issued. Applications for all other bonds shall be filed on the same forms and accompanied by the same items as applications for notices of allocation from the economic development share. Such applications need not designate that they are filed for a notice of allocation from the flexible share but may be treated as such by the department in its discretion. (c) The department shall, in its discretion, decide which application or applications shall receive a notice of allocation. The decision of the department shall be final and conclusive. (d) The provisions of subsection (i) of Code Section 36-82-187 with respect to notices of allocation from the economic development share 1316 36-82-195 shall also apply to notices of allocation from the flexible share. Notwithstanding the requirements of subsection (i) of Code Section 36-82-187, however, the expiration date for a notice of allocation for the private activity portion of governmental use bonds shall be such date as the commissioner may determine, separately in the case of each notice of allocation, and may be extended for any period of time at the department’s discretion. History. — Code 1981, § 36-82-199, enacted by Ga. L. 1987, p. 486, § 1; Code 1981, § 36-82-194, as redesignated by Ga. L. 1990, p. 817, § 1. Editor’s notes. — Ga. L. 1990, p. 817, § 1, effective April 4, 1990, repealed the former Code Section 36-82-194, which was based on Ga. L. 1987, p. 486, § 1, and which related to applications for notices of allocation from the general pool. 36-82-195. Policy guidelines for making allocations.