Applications for volume cap allocation must be submitted on “Form BF 2006: Notice of Intent to Issue” and are processed on a first-come, first-served system based on a twenty-four hour period from noon on one business day to noon the next business day. All applications received by the Division during each period are considered together; if there is not enough allocation available from the appropriate pool(s) to fund all requests, a random drawing is held to determine who gets the allocation that is available. Applications that are granted will receive a written confirmation of allocation from the Division.
Unfilled applications are placed on a waiting list in case allocation becomes available at a later date.
If applications for allocation from the Florida First Business Allocation Pool are received in an amount greater than that which is available, the Division forwards such applications to DEO to determine the order in which the applications will be processed. If no state volume cap is available from the Florida First Business Allocation Pool, allocations for Florida First Business projects may be granted to from the respective regional pools or the State Pool, if available.
Applications are not accepted by the Division of Bond Finance unless the TEFRA approval required by section 147(f) of the Code has been obtained for the project. Additionally, all applications must be accompanied by an opinion or statement of counsel that the project to be financed may be financed with Private Activity Bonds and that the requested allocation is required to issue such bonds.
Applications shall be mailed by certified mail return receipt requested or by overnight common carrier delivery service.
The application fee is $100.00.
Applications for Carryforward must be submitted on "Form BF 2009: Application for Carryforward Allocation."
Carryforward Applications for Priority Projects, projects of $50 million or more, and projects for which expiration has been tolled by a pending bond validation must be submitted no later than December 30.
Applications for Carryforward from the unused allocations which revert to the State Pool on December 30 must be received by the Division prior to noon on December 31. All applications received by such time are considered together; if there is not enough allocation available to fund all Carryforward requests, a random drawing is held to determine which projects receive the allocation that is available.
Applications shall be mailed by certified mail return receipt requested or by overnight common carrier delivery service.
When Private Activity Bonds are issued, the agency issuing such bonds (or its designee) must notify the Division. The issuing agency (or its designee) must submit “Form BF 2010: Issuance Report” to the Division no later than the following business day. This form may be submitted electronically to the Division at Bond@sbafla.com. The Division will then provide a Final Confirmation of Allocation.