Construction Issue definition

Construction Issue means an issue at least 75% of the Available Construction Proceeds of which are to be used for Construction Expenditures with respect to property that is, or upon completion will be, owned by a Governmental Unit or a 501(c)(3) Organization. If an issue is a Multipurpose Issue that includes a New Money Portion, this definition shall be applied by substituting “New Money Portion” for “Construction Issue” each place the latter term appears. If an election under Section 148(f)(4)(C)(v) and Regulations §1.148-7(j) is made to bifurcate an issue or the New Money Portion of a Multipurpose Issue, this definition shall be applied by substituting “Construction Portion” for “Construction Issue” each place the latter term appears.
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Construction Issue means an issue at least 75 percent of the Available Construction Proceeds of which are to be used for Construction Expenditures with respect to property which is or is to be owned by a Governmental Unit or a 501(c)(3) Organization. If an election has been made in the Issuer’s Tax Compliance Certificate to bifurcate an issue or the New Money Portion, the Construction Portion (i.e., that portion of the issue or the New Money Portion which satisfies the 75 percent test stated in the preceding sentence and which finances 100% of the Construction Expenditures) is treated as the Construction Issue and the balance of the issue or the New Money Portion is treated as the Nonconstruction Portion.
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Construction Issue means, the portion (if any) of the Obligations determined to be a Construction Issue for purposes of the section 148(f)(4)(C) of the Code, Treasury Regulations §1.148-7(e) and Section 4 hereof. With respect to any issue refunded by the Obligations, or which is a part of a series of issues refunded by the Obligations,
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Examples of Construction Issue in a sentence

  • Separate purposes include refunding a separate prior issue, financing a separate Purpose Investment (e.g., a separate loan), financing a Construction Issue, and any clearly discrete governmental purpose reasonably expected to be financed by the issue.

  • Table 10.1: CSM Wall Construction Issue Mitigation Options Construction Sequence The procedures described above will only be effective if all operations are carried out by well trained operators with experienced staff from the specialist supplier/sub-contractor overseeing the operation.

  • PSV / HFS applicationwas incorporated into the Construction Issue drawings as appropriate.

  • In total there was a net release of £62,421,000 during 2015 in respect of claims outstanding at 31 December 2014 (2014: a net release of £98,566,000).

  • Greg Reilly, Improvidently Granted: Why the En Banc Federal Circuit Chose the Wrong Claim Construction Issue, 80 U.

  • For example, a Construction Issue may qualify for the 6-Month Spending Exception or the 18-Month Spending Exception even though the Issuer makes one or more elections under the 2-Year Exception with respect to the Issue.

  • An issuer of a Construction Issue may irrevocably elect on or before the issue date to pay a penalty (the “1-1/2 percent penalty”) to the United States in lieu of the obligation to pay the rebate amount on Available Construction Proceeds upon failure to satisfy the spending requirements of the two-year expenditure schedule.

  • These changes must be incorporated into the Construction Issue drawings.

  • Use of the spending exceptions is not mandatory, except that where an issuer elects to apply the 1-1/2 percent penalty (as described below) the issuer must apply that penalty to the Construction Issue.

  • This election does not apply for purposes of determining whether an issue is a Construction Issue if the 1-1/2 percent penalty in lieu of rebate election described in subsection (g)(4) of this Exhibit is made.


More Definitions of Construction Issue

Construction Issue means any issue that is not a refunding issue if
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Construction Issue means the Note, so long as at least 75 percent of the Available Construction Proceeds of which are to be used for construction expenditures with respect to property which is or is to be owned by a Governmental Unit or a 501(c)(3) Organization.
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Construction Issue means the portion (if any) of the original obligations issued to finance an expenditure (the “original obligations”) determined in the Tax Certificate with respect to original obligations to be a “Construction Issue” for purposes of the section 148(f)(4)(C) of the Code and Treasury Regulations §1.148-7(e).
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Construction Issue means an issue at least 75% of the Available Construction Proceeds of which are to be used for Construction Expenditures with respect to property that is, or upon completion will be, owned by a Governmental Unit or a 501(c)(3)
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Construction Issue means any issue that is not a refunding issue if (i) the Issuer reasonably expects, as of the issue date, that at least 75 percent of the Available Construction Proceeds of the issue will be allocated to Construction Expenditures for property owned by a governmental unit or a 501(c)(3) organization and (ii) any private activity bonds that are part of the issue are qualified 501(c)(3) bonds or private activity bonds issued to finance property to be owned by a governmental unit or a 501(c)(3) organization.
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Construction Issue means for purposes of the Two -Year Construction Bond Exception to Rebate, any issue (or portion thereof) that is not a refunding issue in which all of the bonds are either (i) Governmental Bonds, (ii) Qualified 501(c)(3) Bonds, or (iii) Qualified Private Activity Bonds that finance property owned by a Governmental Unit or a Tax -Exempt Organization, if at least seventy-five percent (75 %) of the net proceeds of the issue are to be used, or are expected to be used if such an election has been made, for expenditures for construction, reconstruction and rehabilitation of property which is owned by a Governmental Unit or a Tax -Exempt Organization. A leased or managed facility will be considered owned by a Governmental Unit or a Tax -Exempt Organization if:
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Related to Construction Issue

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction Work means any work in connection with⎯

  • Construction Manager means a competent person responsible for the management of the physical construction processes and the coordination, administration and management of resources on a construction site;

  • Construction means any physical change or change in the method of operation (including fabrication, erection, installation, demolition, or modification of an emissions unit) which would result in a change in actual emissions.

  • Constructional Plant means all appliances or things whatever nature required in or about the execution, completion or maintenance of the works or temporary works (as hereinafter defined) but does not include materials or other things intended to form or forming part of the permanent work or temporary housing, hutting, office, stores, etc.,

  • Construction Contract or “contract” means a written agreement between a contractor and a public agency for the construction, alteration, demolition, or repair of a facility, other than a contract having a dollar value of less than $30,000.00 or a contract that provides for 3 or fewer payments.

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.