Page:United States Statutes at Large Volume 100 Part 3.djvu/900

 100 STAT. 2708

PUBLIC LAW 99-514—OCT. 22, 1986 (43) EXTENSION OF ADVANCE REFUNDING FOR CERTAIN FACILI-

TiES.—Paragraph (4) of section 631(c) of the Tax Reform Act of 1984 is amended— (A) by striking out the second sentence thereof, (B) by adding at the end thereof the following new sentence: "In the case of refunding obligations not exceeding $100,000,000 issued by the Alabama State Docks Department, the first sentence of this paragraph shall be applied by substituting 'December 31, 1987' for 'December 31, 1984'." (44) POOL BONDS.—The following amounts of pool bonds are exempt from the arbitrage rebate requirement of section 148(f) of the 1986 Code: Pool Tennessee Utility Districts Pool New Mexico Hospitals Bond Pool Pennsylvania Local Government Investment Trust Pool Indiana Bond Bank Pool Hernando County, Florida Bond Pool Utah Municipal Finance Cooperative Pool North Carolina League of Municipalities Pool Kentucky Municipal League Bond Pool Kentucky Association of Counties Bond Pool Homewood Municipal Bond Pool Colorado Association of School Boards Pool Tennessee Municipal League Pooled Bonds Georgia Municipal Association Pool (45)

CERTAIN

CARRYFORWARD

Maximum Bond Amount $80,000,000 $35,000,000 $375,000,000 $240,000,000 $300,000,000 $262,000,000 $200,000,000 $170,000,000 $100,000,000 $50,000,000 $300,000,000 $75,000,000 $130,000,000

ELECTIONS.—Notwithstanding

any other provision of this title— (A) In the case of a metropolitan service district created pursuant to State revised statutes, chapter 268, up to $100,000,000 unused 1985 bond authority may be carried forward to any year until 1989 (regardless of the date on which such carryforward election is made). (B) I f (i) official action was taken by an industrial development board on September 16, 1985, with respect to the issuance of not more than $98,500,000, of waste water treatment revenue bonds, and (ii) an executive order of the governor granted a carryforward of State bond authority for such project on December 30, 1985, such carryforward election shall be valid for any year through 1988. The aggregate face amount of obligations to which this subparagraph applies shall not exceed $98,500,000. (46) TREATMENT OF CERTAIN OBLIGATIONS TO FINANCE HYDROELECTRIC GENERATING FACILITY.—If—

(A) obligations are issued in an amount not exceeding $5,000,000 to finance the construction of a hydroelectric generating facility located on the North Fork of Cache Creek in Lake County, California, which was the subject of a preliminary resolution of the issuer of the obligations on June 29, 1982, or are issued to refund any of such obligations, (B) substantially all of the electrical power generated by such facility is to be sold to a nongovernmental person

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