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DEVELOPMENT BONDS

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THE BOND ISSUANCE PROCESS

Steps Involved in the Issuance of Qualified Small Issue Revenue Bonds for Manufacturing Facilities

The issuance of revenue bonds for manufacturing facilities generally takes about 90 to 120 days to complete. The following steps, with minimal variations in order, depending principally on the type of Issuer, are generally required for the issuance of bonds:

*Adams and Reese,LLP

- Communications begin with the Issuer to determine qualification of Project.
- Submission of an application (together with applicable fees, if any) to the Issuer.
- Adoption of the official intent resolution (preliminary approval) by the Issuer.
- Submission of application to State Bond Commission for preliminary approval. (A check must be sent and made payable to the Louisiana State Bond Commission representing the State Bond Commission initial application fee in the amount of $1,500.)
- Determination of the structure and method of offering the Bonds.
- Financing documents drafted and distributed to all parties.
- Financing documents to be reviewed and finalized, and Official Statement, if applicable, to be drafted.
- Issuer adopts final approval resolution approving the issuance of the Bonds, the execution of financing documents and the sale of the Bonds; Issuer will also conduct a public hearing at this time.
- Volume cap application is filed with State Bond Commission.
- Obtain state volume cap allocation.
- Obtain approval of the parish governing authority.
- Obtain approval from the Louisiana Secretary of Economic Development.
- Bonds are delivered to the original purchaser.

INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF NEW ORLEANS, LOUISIANA, INC.

Contact Us:
Sharon Martin - Administrator
Industrial Development Board of the City of New Orleans
1340 Poydras Street, Suite 1106
New Orleans, Louisiana 70112
Telephone: 504 658-4242 FAX: 504 617-6514
E-mail: mail@idbcno.com
Mail To:

P.O. Box 19996
New Orleans, Louisiana 70179