BOND FINANCING PROCESS

The following is a brief description of the application process for a new project to The IDA of the City of Sierra Vista. For a complete description of the application process, see the Application Form.

Please consult The IDA of the City of Serra Vista's  counsel with any questions.

  1. Applicant submits the completed application to The IDA of the City of Sierra Vista.

  2. Application is reviewed by The IDA of the City of Sierra Vista counsel and further information is requested, if necessary.

  3. Application is considered by The IDA of the City of Sierra Vista at a regular or special meeting, together with a preliminary (or inducement) resolution.

  4. If approved, a portion of the non-refundable application fee is due.

  5. Applicant works with Bond Counsel and Underwriter (or Purchaser) to establish parameters for Bonds and structure terms.

  6. If necessary, request for volume cap allocation is submitted to the Arizona Department of Commerce.

  7. Bond documents are prepared and forwarded to The IDA of the City of Sierra Vista for review.

  8. Public hearing conducted by The IDA of the City of Sierra Vista (if required by Internal Revenue Code).

  9. Final Bond resolution authorizing the issuance of bonds and stating terms considered by The IDA of the City of Sierra Vista.

  10. Letter describing project is sent to the Arizona Attorney General.

  11. City of Sierra Vista approves public hearing and authorizes issuance of the bonds by The IDA of the City of Sierra Vista.

  12. If necessary, an application is made to the Arizona Department of Housing for review of the Bonds under Section 35-726, Arizona Revised Statutes, as amended.

  13. If necessary, a hearing under 35-726, Arizona Revised Statutes, as amended is held by the Arizona Department of Housing, which approves the issuance of the bonds.

  14. Bonds are sold by the Underwriter (or purchased by the Purchaser).

  15. Transaction closes, bonds are issued and all fees are paid.

Who is Eligible for a Tax-Exempt Bond?

How do Bond Issues Work?

The Application Process Explained

Start or Continue an Application

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