17-5-1312. Allocation to state issuers. (1) Except as provided in subsection (5), the state portion must be allocated to state issuers pursuant to 17-5-1316.
     (2) As a condition of receiving an allocation, each state issuer, upon issuance of the bonds, shall pay 30 cents per thousand of bonds to be deposited in the state general fund for the purpose of funding a portion of the comprehensive annual financial report audit.
     (3) The following set-asides must be made in each calendar year for the following state issuers:
     State Issuer     Percentage     Allocation                     Amount

     Board     4      $4,200,000
     MBH     41      43,050,000
     MBI     25      26,250,000
     MHESAC     26      27,300,000
     MHFA      4       4,200,000
     Total     100%     $105,000,000

     
     (4) Each set-aside expires on the first Monday in September.
     (5) Prior to the set-aside expiration date, allocations may be made by the department to each state issuer only from its respective set-aside pursuant to 17-5-1316 and no state issuer is entitled to an allocation except from its set-aside unless otherwise provided by the governor.
     (6) After the expiration date, the amount of the set-aside remaining unallocated is available for allocation by the department to issuers pursuant to 17-5-1316 without preference or priority.

     History: En. Sec. 4, Ch. 190, L. 1987; amd. Sec. 2, Ch. 168, L. 1991.