La. Admin. Code tit. 71, § III-701 - Procedure

A. No later than 45 days after the closing and delivery of bonds by any non-traditional issuer, including but not limited to the Louisiana Public Facilities Authority, other public trusts, the Louisiana Local Government Environmental Facilities and Community Development Authority, other political subdivisions having statewide jurisdiction, state agencies, and industrial development boards (collectively, the "Issuer"), the Issuer or its representative shall submit to the State Bond Commission a final report with respect to such issue. This final report shall be in a form provided by the State Bond Commission and shall provide information with respect to the final size of the issue, maturities and interest rates, and all costs of issuance including underwriters' discount ("costs of issuance"), paid from bond proceeds and/or other sources.

B. The report shall list:

1. the costs of issuance by individual item as submitted to and approved by the State Bond Commission;

2. the actual costs of issuance by individual item and;

3. the variance, if any, between the approved and actual costs of issuance by individual item, dollar amount and percentage. If:

a. the total actual costs of issuance exceed the total approved costs of issuance; or

b. the actual costs of issuance in any line item exceed the approved costs of issuance by a variance of 10 percent or more, the Issuer shall obtain supplemental approval of the State Bond Commission prior to paying any individual item in excess of the approved costs of issuance.

Notes

La. Admin. Code tit. 71, § III-701

Promulgated by the Department of the Treasury, State Bond Commission, LR 18:1418 (December 1992), amended LR 30:1491 (July 2004).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:950 et seq.