Minnesota Legislature
Office of the Revisor of Statutes
Minnesota Administrative Rules
4900.3210 DEFINITIONS.
Subpart 1.
Scope.
For the purposes of parts 4900.3200 to 4900.3290 the following terms have the meanings given them.
Subp. 3.
Applicant.
"Applicant" means a city applying for mortgage revenue bond authority under parts 4900.3200 to 4900.3290.
Subp. 4.
Application.
"Application" means a submittal requesting mortgage revenue bond authority according to parts 4900.3200 to 4900.3290 as described in part 4900.3230.
Subp. 5.
City.
"City" means a city as defined in Minnesota Statutes, section 462C.02, subdivision 6.
Subp. 7.
Housing pool.
"Housing pool" means the amount of the annual volume cap allocated under Minnesota Statutes, section 474A.061, which is available for the issuance of residential rental project bonds or mortgage bonds.
Subp. 8.
Metropolitan area.
"Metropolitan area" means the metropolitan area as defined in Minnesota Statutes, section 473.121, subdivision 2.
Subp. 9.
Mortgage revenue bonds.
"Mortgage revenue bonds" means tax exempt bonds issued by public entities payable from revenues derived from repayment of principal and interest on mortgage loans that were financed from the proceeds of the bonds.
Subp. 11.
Origination period.
"Origination period" means the period that loans financed with the proceeds of mortgage revenue bonds are available for the purchase of single-family housing. The origination period begins when financing actually becomes available to the borrowers for loans.
Subp. 15.
Single-family housing.
"Single-family housing" means one to four family dwelling units eligible to be financed from the proceeds of mortgage revenue bonds under federal law.
History:
15 SR 2043; 16 SR 1913; 24 SR 1332
Published Electronically:
June 11, 2008
Official Publication of the State of Minnesota
Revisor of Statutes