Minnesota Administrative Rules

4900.3230 APPLICATION FOR MORTGAGE REVENUE BOND AUTHORITY.

Subpart 1.

General.

Cities may apply to the agency for mortgage revenue bond authority from the housing pool as provided in subparts 2 and 3.

Subp. 2.

Application period.

In the event that bonding authority is available in the housing pool on the dates prescribed, cities may submit applications to the agency for single-family mortgage revenue bond authority for eligible programs.

Subp. 3.

Application requirements.

Cities that wish to apply for single-family mortgage revenue bond authority must submit:

A.

an application on a form developed by the agency that establishes that the program meets the requirements of part 4900.3220, subparts 2 to 4, and Minnesota Statutes, section 474A.061, subdivision 2a;

B.

an application deposit by check payable to the Department of Management and Budget equal to one percent of the requested allocation from the housing pool; and

C.

an application fee as described in Minnesota Statutes, section 474A.03, subdivision 4.

Statutory Authority:

MS s 14.05; 462A.06

History:

15 SR 2043; 16 SR 1913; 24 SR 1332; L 2009 c 101 art 2 s 109

Published Electronically:

August 7, 2009