Page:United States Statutes at Large Volume 100 Part 3.djvu/895

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2703

(C) The nonqualified amount to which this paragraph applies shall not exceed $150,000,000. (D) For purposes of this paragraph, the term "nonqualified amount" has the meaning given such term by section 141(b)(8) of the 1986 Code, except that such term shall include the amount of the net proceeds of an issue which is to be used (directly or indirectly) to make or finance loans (other than loans described in section 141(c)(2) of the 1986 Code) to persons other than governmental units. (30) VOLUME CAP NOT TO APPLY TO CERTAIN FACILITIES.—For

purposes of section 146 of the 1986 Code, any exempt facility bond for the following facility shall not be taken into account: The facility is a facility for the furnishing of water which was authorized under Public Law 90-537 of the United States if— (A) construction of such facility began on May 6, 1973, and (B) forward funding will be provided for the remainder of the project pursuant to a negotiated agreement between State and local water users and the Secretary of the Interior signed April 15, 1986. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $391,000,000. (31) CERTAIN HYDROELECTRIC GENERATING PROPERTY.—A bond shall be treated as described in paragraph (2) of section 1316(f) of this Act if— (A) such bond would be so described but for the substitution specified in such paragraph, (B) on January 7, 1983, an application for a preliminary permit was filed for the project for which such bond is issued and received docket no. 6986, and (C) on September 20, 1983, the Federal Energy Regulatory Commission issued an order granting the preliminary permit for the project. The aggregate face amount of bonds to which this paragraph applies shall not exceed $12,000,000. (32) VOLUME CAP.—The State ceiling applicable under section 146 of the 1986 Code for calendar year 1987 for the State which ratified the United States Constitution on May 29, 1790, shall be $150,000,000 higher than the State ceiling otherwise applicable under such section for such year. (33) APPLICATION OF $150,000,000 LIMITATION FOR CERTAIN QUALIFIED 501(C)(3) BONDS.—Proceeds of an issue described in

any of the following subparagraphs shall not be taken into account under section 145(b) of the 1986 Code. (A) Proceeds of an issue are described in this subparagraph if— (i) such proceeds are used to provide medical school facilities or medical research and clinical facilities for a university medical center, (ii) such proceeds are of^ (I) a $21,550,000 issue on August 1, 1980, (II) a $84,400,000 issue on September 1, 1984, and (III) a $48,500,000 issue (Series 1985 A and 1985 B), and (iii) the issuer of all such issues is the same. (B) Proceeds of an issue are described in this subparagraph if such proceeds are for use by Yale University and—

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