Extract to table

Both prongs must be met for the bonds to constitute private activity bonds

Any subsequent change in the use of the PSRAWTF or any other bond-financed property must be evaluated for private business use implications

148-7(g)); and (2) The issue must satisfy the due diligence and spending-schedule requirements set forth in Treasury Regulation Section 1

If CSIA fails to meet any benchmark, the temporary period is terminated with respect to the unspent amounts as of the applicable benchmark date, and those unspent amounts must thereafter be yield-restricted or subject to rebate

Amounts remaining in the Capitalized Interest Fund after the expiration of the applicable temporary period (or after the capitalized interest period expires, if earlier) must be yield-restricted

However, if the cash is held for any period before disbursement, it must be invested in yield-restricted investments