WHEREAS, the Louisiana Public Facilities Authority has requested
an allocation from the 2003 Ceiling to finance student loans which, if the student
meets certain timely payment requirements, will have interest rates below the
interest rates established by the United States Department of Education and
which (1) have been made (a) to residents of the state of Louisiana attending
a post-secondary school located within or without the state of Louisiana, or
(b) to an out-of-state resident attending a post-secondary school located within
the state of Louisiana; (2) are guaranteed; (3) are "eligible student loans"
within the meaning of the Higher Education Act of 1965; and (4) meet certain
additional requirements under the financing documents, in accordance with the
provisions of Section 146 of the Internal Revenue Code of 1986, as amended;
NOW THEREFORE, I, M.J. "MIKE" FOSTER, JR., Governor of the state of Louisiana, by virtue of the authority vested by the Constitution and the laws of the state of Louisiana, do hereby order and direct as follows:
SECTION 1: The bond issue, as described in this Section, shall be and is hereby granted an allocation from the private activity bond volume limits for the calendar year of 2003 as follows:
AMOUNT OF ALLOCATION
NAME OF ISSUER
NAME OF PROJECT
Louisiana Public Facilities Authority
Student Loans Revenue Bonds
SECTION 3: The granted allocation shall be valid and in full force and effect through the end of 2003, provided that such bonds are delivered to the initial purchasers thereof on or before December 22, 2003.
SECTION 4: All references in this Order to the singular shall include the plural, and all plural references shall include the singular.
SECTION 5: The undersigned certifies, under penalty of perjury, that the granted allocation was not made in consideration of any bribe, gift, or gratuity, or any direct or indirect contribution to any political campaign. The undersigned also certifies that the granted allocation meets the requirements of Section 146 of the Internal Revenue Code of 1986, as amended.
SECTION 6: This Order is effective upon signature and shall remain in effect until amended, modified, terminated, or rescinded by the governor, or terminated by operation of law.
IN WITNESS WHEREOF, I have set my hand officially and caused to be affixed the Great Seal of Louisiana, at the Capitol, in the city of Baton Rouge, on this 16th day of December, 2003.
M.J. "Mike" Foster, Jr.
Secretary of State