Page:United States Statutes at Large Volume 100 Part 3.djvu/887

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2695

(iii) such project is to be located in the metropolitan area of the city described in paragraph (3)(C). The aggregate face amount of bonds to which this subparagraph applies shall not exceed $12,000,000. (V) A residential rental project is described in this sulaparagraph if it is a renovation and construction project for low-income housing in central Louisville, Kentucky, and local board approval for such project was granted April 22, 1986. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $500,000. (W) A residential rental project is described in this subparagraph if— (i) such project is 1 of 6 residential rental projects having in the aggregate approximately 1,010 units, (ii) inducement resolutions for such projects were adopted by the county residential finance authority on November 21, 1985, and (iii) a public hearing of the county residential finance authority was held by such authority on December 19, 1985, regarding such projects to be constructed by an in-commonwealth developer. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $62,000,000. (X) A residential rental project is described in this subparagraph if— (i) an inducement resolution with respect to such project was adopted by the State housing development authority on January 25, 1985, and (ii) the issuance of bonds for such project was the subject of a law suit filed on October 25, 1985. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $64,000,000. In the case of bonds to which this subparagraph applies, the requirements of sections 148 and 149(d) of the 1986 Code shall not be treated as included in section 103 of the 1954 Code and shall apply to such bonds. (Y) A project or projects are described in this subparagraph if they are financed with bonds issued by the Tulare, California, County Housing Authority. The aggregate face amount of obligations to which this subparagraph applies shall not exceed $8,000,000. (Z) A residential rental project is described in this subparagraph if such project is a multifamily mixed-use housing project located in a city described in paragraph (3)(C), the zoning for which was changed to residentialbusiness planned development on November 26, 1985, and with respect to which both the city on December 4, 1985, and the state housing finance agency on December 20, 1985, adopted inducement resolutions. The aggregate face amount of obligations to which this subparagraph applies shall not exceed $90,000,000. (14) QuAUFiED STUDENT LOANS.—The amendments made by section 1301 shall not apply to any qualified student loan bonds (as defined in section 144 of the 1986 Code) issued by the Volunteer State Student Assistance Corporation. The aggregate face amount of bonds to which this paragraph applies shall not exceed $90,000,000. In the case of bonds to which this paragraph

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