Examples of Participant Loan in a sentence
A Participant Loan Program will be available to bargaining unit members.
For Participant Loans issued only to refund a prior Participant Loan, the Participant Bond Compliance Officer will work with the Bond Compliance Officer or Bond Counsel to prepare and/or document the Final Written Allocation for the Financed Facility financed by the refunded Participant Loan and include it as an attachment to the Participant’s Tax Compliance Agreement or in the Tax-Exempt Bond File.
Prior to or as a part of the Participant Loan authorization process, the Participant may adopt an Intent Resolution.
If a Participant informs the Bond Compliance Officer of a deficiency in compliance with Participant’s Tax Compliance Agreement for an outstanding Participant Loan allocable to an outstanding Tax-Exempt Bond listed on Exhibit A, the Bond Compliance Officer will consult with Bond Counsel and, as necessary or appropriate, follow the procedures described in the Regulations or the Tax-Exempt Bonds Voluntary Closing Agreement Program (VCAP) to remediate the noncompliance.
The Participant’s Tax Compliance Agreement will (1) describe the Project Facility and the anticipated Financed Facility, (2) for new money financings, require the Participant to complete a Final Written Allocation, and (3) contain a form of the Participant Annual Compliance Checklist for the Participant Loan.