Page:United States Statutes at Large Volume 100 Part 3.djvu/854

 100 STAT. 2662

PUBLIC LAW 99-514—OCT. 22, 1986 maturity date of the refunding bond is later than the maturity date of the refunded bond. (B) The requirements of section 147(g) (relating to restric•J tion on issuance costs financed by issue). (C) The requirements of section 148 (relating to arbitrage). (D) The requirements of section 149(e) (relating to information reporting). (E) The provisions of section 150(b) of such Code (relating to changes in use). Subparagraphs (A) and (D) shall apply only if the refunding bond is issued after December 31, 1986. (4) SPECIAL RULES FOR CERTAIN GOVERNMENT BONDS ISSUED

AFTER AUGUST 15, 1986.—In the casc of any bond described in section 1312(c)(2)— (A) paragraph (2) of this subsection shall be applied by substituting "August 31, 1986" for "August 15, 1986", (B) paragraph (3) shall be applied without regard to sub; j^. paragraphs (A), (B), and (E), and (C) such bond shall not be treated as a private activity bond for purposes of applying the requirements referred to in subparagraphs (C) and (D) of paragraph (3). (b) CERTAIN ADVANCE REFUNDINGS.—

(1) IN GENERAL.—Except as provided in paragraph (3), the amendments made by section 1301 shall not apply to any bond the proceeds of which are used exclusively to advance refund a bond if— (A) the refunded bond is described in paragraph (2), and (B) the requirements of subsection (a)(l)(B) are met. (2) NON-IDB'S, ETC.—A bond is described in this paragraph if such bond is not described in subsection (b)(2) or (o)(2)(A) of section 103 of the 1954 Code and was issued (or was issued to refund a bond issued) before August 16, 1986. (3) CERTAIN AMENDMENTS TO APPLY.—The following provisions of the 1986 Code shall be treated as included in section 103 and section 103A (as appropriate) of the 1954 (Dode and shall apply to refunding bonds described in paragraph (1): (A) The requirements of section 147(f) (relating to public approval required for private activity bonds). (B) The requirements of section 147(g) (relating to restriction on issuance costs financed by issue). (C) The requirements of section 148 (relating to arbitrage), except that section 148(d)(3) shall not apply to proceeds of such bonds to be used to discharge the refunded

bonds. ^ (D) The requirements of paragraphs (3) and (4) of section 149(d) (relating to advance refundings). (E) The requirements of section 149(e) (relating to v 5 f ^ information reporting). (F) The provisions of section 150(b) of such Code (relating to changes in use). Subparagraphs (A) and (E) shall apply only if the refunding bond is issued after December 31, 1986. (4) SPECIAL RULE FOR CERTAIN GOVERNMENT BONDS ISSUED AFTER AUGUST 15, 1986.—In the case of any bond described in

section 1312(c)(2)—

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