Page:United States Statutes at Large Volume 100 Part 3.djvu/883

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PUBLIC LAW 99-000—MMMM. DD, 1986

PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2691

Code if the project is described in any of the following subparagraphs: (A) A residential rental property project is described in this subparagraph if— (i) a public building development corporation was formed on June 6, 1984, with respect to such project, (ii) a partnership of which the corporation is a general partner was formed on June 8, 1984, and (iii) the partnership entered into a preliminary agreement with the State public facilities authority effective as of May 4, 1984, with respect to the issuance of the bonds for such project. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $6,200,000. (B) A residential rental property project is described in this subparagraph if— (i) the Board of Commissioners of the city housing authority officially selected such project's developer on December 19, 1985, (ii) the Board of the City Redevelopment Commission agreed on February 13, 1986, to conduct a public hearing with respect to the project on March 6, 1986, (iii) an official action resolution for such project was adopted on March 6, 1986, and (iv) an allocation of a portion of the State ceiling was made with respect to such project on July 29, 1986. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $10,000,000. (C) A residential rental property project is described in this subparagraph if— (i) the issuance of $1,289,882 of bonds for such project was approved by a State agency on September 11, 1985, and (ii) the authority to issue such bonds was scheduled to expire (under the terms of the State approval) on September 9, 1986. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $1,300,000. (D) A residential rental property project is described in this subparagraph if— (i) the issuance of $7,020,000 of bonds for such project was approved by a State agency on October 10, 1985, and (ii) the authority to issue such bonds was scheduled to expire (under the terms of the State approval) on October 9, 1986. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $7,020,000. (E) A residential rental property project is described in this subparagraph if— (i) it is to be located in a city urban renewal project area which was established pursuant to an urban renewal plan adopted by the city council on May 17, 1960, (ii) the urban renewal plan was revised in 1972 to permit multifamily dwellings in areais of the urban renewal project designated as a central business district,