§ 5280. Eligibility Requirements.

If the Committee has established a Single Family Housing Program Bonus Pool in accordance with section 5020(c), Applicants may be eligible if the following is demonstrated:

• (a) For Mortgage Revenue Bond Programs:

(1) Demonstrate that Bonds allocated from the current year's Single Family Housing Pool have been issued.

(2) Certify that proceeds from the current year's allocation are being used to finance loans.

(3) Justify the need for additional Allocation.

• (b) For Mortgage Credit Certificate Programs:

(1) Demonstrate that Bonds allocated from the current year's Single Family Housing Pool have been converted into Mortgage Credit Certificate authority.

• (2) Certify that Mortgage Credit Certificates are being issued.

• (3) Justify the need for additional Allocation.

NOTE: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c) and 8869.85(b), Government Code.