Okla. Admin. Code § 330:30-2-6.1

Current through Vol. 42, No. 6, December 2, 2024

Section 330:30-2-6.1 - Financing requirements

(a) The AP, as approved by the Trustees may modify, expand, or clarify the following criteria.

(b) OHFA may finance Developments through acquisition, rehabilitation, construction and/or permanent MF Bonds.

(c) OHFA may participate with other institutions in the issuance of MF Bonds to finance Developments under this Chapter.

(d) OHFA MF Bonds shall meet all reasonable underwriting requirements, and will be subject to adjustment if necessary.

(e) OHFA or one of its bond professionals shall prescribe the form and content of all Closing documents, including without limitation, the Bond Documents, construction facility documents and the regulatory agreement(s).

(f) OHFA may require additional instruments or guarantees, in addition to the Bond Documents, to secure its MF Bonds.

(g) For any Development to be financed by the issuance of MF Bonds, the interest on which is intended to be excluded from federal income tax under the Code, the Borrower shall be responsible to insure that all applicable requirements of the Code concerning the design, construction and operation of the Development, and the use of any proceeds of such MF Bonds, are and remain satisfied for the requisite period of time.

Okla. Admin. Code § 330:30-2-6.1

Added at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1978, eff 7-31-13

Amended by Oklahoma Register, Volume 33, Issue 24, September 1, 2016, eff. 10/1/2016