Code of Maine Rules
99 - INDEPENDENT AGENCIES
346 - MAINE STATE HOUSING AUTHORITY
Chapter 12 - RESIDENTIAL PROPERTY MUNICIPAL SECURITIES APPROVAL RULE
Section 346-12-2 - Scope and Applicability

10 MRSA §1061-A(4) provides that in the case of projects consisting of multi-family or single family residential property the Authority shall have the responsibility to approve or disapprove such projects under the Municipal Securities Approval Program. At the time of issuance of the certificate of approval, the Authority will determine whether a proposed project is an eligible project. The Authority's determination will be based on the reasonable expectations of projected use of the project set forth in the application and any additional documents required by the Authority. A certificate of approval issued pursuant to this rule shall be conclusive proof that the determinations required by the Municipal Securities Approval Program have been made. Issuance of a certificate of approval may not be relied upon as a determination that interest on the securities is exempt from federal and state income taxation or as an allocation or reservation under any applicable state ceiling on tax-exempt bonds. Allocation of the state ceiling on housing-related bonds is governed by Chapter 13 of the Authority's rules.