Page:United States Statutes at Large Volume 100 Part 3.djvu/864

 100 STAT. 2672

PUBLIC LAW 99-514—OCT. 22, 1986 (2) POLLUTION CONTROL FACILITIES.—A bond issued as part of an issue 95 percent or more of the net proceeds of which are to be used to provide air or water pollution control facilities (within the meaning of section 103(b)(4)(C) of the 1954 Code) shall be treated as an exempt facility bond for purposes of part IV of subchapter B of chapter 1 of the 1986 Code if such facility is described in any of the following subparagraphs: (A) A facility is described in this subparagraph if— (i) inducement resolutions with respect to such facility were adopted on September 23, 1974, and on April 5, 1985, (ii) a bond resolution for such facility was adopted on September 6, 1985, and < (iii) the issuance of the bonds to finance such facility ^''" was delayed by action of the Securities and Exchange Commission (file number 70-7127). The aggregate face amount of bonds to which this subparagraph applies shall not exceed $120,000,000. (B) A facility is described in this subparagraph if— (i) there was an inducement resolution for such facil•'J' ity on November 19, 1985, and (ii) design and engineering studies for such facility were completed in March of 1985. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $25,000,000. (C) A facility is described in this subparagraph if— ii^'.'UM (i) a resolution was adopted by the county board of supervisors pertaining to an issuance of bonds with i:"'A respect to such facility on April 10, 1974, and (ii) such facility was placed in service on June 12, 1985. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $90,000,000. For purposes of this subparagraph, a pollution control facility includes a ''^' sewage or solid waste disposal facility (within the meaning ^^of section 103(b)(4)(E) of the 1954 Code). (D) A facility is described in this subparagraph if— (i) the issuance of the bonds for such facility was approved by a State agency on August 22, 1979, and ® '' (ii) the authority to issue such bonds was scheduled to expire (under terms of the State approval) on -^^ August 22, 1989. The aggregate face aikiount of bonds to which this subparagraph applies shall not exceed $198,000,000. (E) A facility is described in this subparagraph if— (i) such facility is 1 of 4 such facilities in 4 States with ^ respect to which the Ball Corporation transmitted a ' letter of intent to purchase such facilities on Febru'* ary 26, 1986, and (ii) inducement resolutions were issued on Decem' ber 30, 1985, January 15, 1986, January 22, 1986, and March 17, 1986 with respect to bond issuance in the 4 respective States. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $6,000,000. (F) A facility is described in this subparagraph if—

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