HARRY HUGHES, Governor

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requests to insure a well coordinated State criminal
justice program.

(f) It may adopt rules for internal management
consistent with this Executive Order.

EXECUTIVE ORDER OF AUGUST 1, 1984

01.01.1984.07

PRIVATE ACTIVITY BOND ALLOCATIONS PROCLAMATION

WHEREAS, a bill ("H.R. 4170") was enacted by the United States
Congress and signed into law by President Reagan on July 18,
1984; and

WHEREAS, Division A of H.R. 4170, entitled the "Tax Reform Act of
1984", in title VI amended the Internal Revenue Code of
1954, as amended (the "Code"), among other things, to
establish a ceiling on the dollar amount of "private
activity bonds" (as defined in H.R. 4170) that may be issued
by each State and its agencies and political subdivisions in
a calendar year (the "State Ceiling"); and

WHEREAS, H.R. 4170 provides that the State Ceiling applies to
obligations issued after December 31, 1983, except that the
State Ceiling shall not apply to any issue of obligations if
(a) there was an inducement resolution (or other comparable
preliminary approval) for the issue before June 19, 1984,
and (b) the issue is issued before January 1, 1985; and

WHEREAS, "private activity bonds", as defined in H.R. 4170,
include industrial development bonds and student loan bonds
(including certain refunding bonds to the extent that the
amount of an obligation issued to refund a prior obligation
exceeds the amount of the refunded obligation), but do not
include (i) industrial development bonds issued pursuant to
Section 103(b)(4)(A) of the Code to finance multi-family
housing or any public housing program obligation under
Section 11(b) of the United States Housing Act of 1937, (ii)
obligations issued to finance certain governmentally owned
convention or trade show facilities, as described in Section
103(b)(4)(C) of the Code, (iii) obligations issued to
finance certain governmentally owned airports, docks,
wharves, mass commuting facilities (including mass commuting
vehicles), or storage or training facilities directly
relating to any of the foregoing, as described in Section
103(b)(4)(D) of the Code or (iv) obligations issued to
finance parking facilities related to those facilities
described in Section 103(b)(4)(D) of the Code (all of the
foregoing types of obligations are hereinafter referred to