Issuance of Bonds (where applicable)

Issuance of Bonds (where applicable). (a) Review and Include in permanent file legislative record, memoranda of understanding (MOU), any side agreements, business plans, applications, and any other information provided to MDA by project applicant related to project where funding is sought. (b) Include in permanent file the resolution requesting bonds to be sold. (c) Document the development of the capital project. (d) Document that the necessary board approvals have been obtained. (e) Document that the Department of Finance and Administration (DFA) and/or State Treasurer’s office properly monitors use of bond proceeds and arbitrage compliance. (f) Document that the State Bond Commission, where applicable, has reviewed applications, evaluated and analyzed how the project fits within the state’s debt structure, evaluated issuance costs, approves issuance and that a final report indicating the use of the funds was received from the relevant agencies. (g) Document any bond insurance or credit enhancement activity related to the bond issuance. (h) Document that the State Bond Attorney, where applicable, has issued an opinion on the legal issuance of the bonds and that the Office of the Attorney General approved the bond issue before delivery. (i) Document that the State Treasurer or its designee registered the bonds and recorded the sale of the bonds. (j) Document the purchase of the bond issue by the underwriter/syndicate. (k) Other documentation as necessary.