SECTION 10. INFORMATION

REPORTING

Section 54(l)(7) requires issuers of clean renewable energy bonds to submit

c. Addresses . Applications must be submitted in duplicate to the Internal Revenue Service (IRS), Attention CC:TEGE:EOEG:TEB, 1111 Constitution Avenue, NW, Room 4306, Washington, D.C. 20224. Applications may be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to the Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, D.C., attention CC:TEGE:EOEG:TEB.

d. Due date . Applications must be filed with the IRS on or before April 26, 2006.

e. Project description . Each application must contain the information required by this subsection e.

(i) Qualified borrower . Each application must identify the qualified borrower expected to own the qualified project. A “qualified borrower” is: (1) a mutual or cooperative electric company described in section 501(c)(12) or 1381(a)(2)(C); or (2) a governmental body (as defined in section 54(j)(3)). The application must demonstrate that the entity constitutes a qualified borrower within the meaning of section 54(j)(5). If any bond is expected to be a pooled financing bond (within the meaning of section 149(f)(4)(A)), the application must demonstrate that the qualified issuer will enter into a written loan commitment with each qualified borrower prior to the issue date of the bond issue.

(ii) Qualified project . Each application must describe in detail the project to be financed with the proceeds of the clean renewable energy bonds. The application must demonstrate that the project will constitute a “qualified project” within the meaning of section 54(d)(2)(A), and must indicate the expected date the project will be placed in service. The application also must contain a certification by an independent, licensed engineer that the project will meet the requirements to be a qualified facility (as determined under section 45(d) without regard to section 45(d)(10) and to any placed in service date) and that the project is technically viable.

(iii) Location of project . The application must indicate the location of the project.

(iv) Regulatory approvals . The application must describe a plan to obtain all necessary Federal, state and local regulatory approvals for the project.

f. Plan of financing . The application must contain a detailed description of the plan of financing for the project, including all private and public sources of financing and the status of the applicants’ efforts to secure all such financing. The application must also describe the anticipated date of bond issuance, the sources of security and repayment for the bonds, the aggregate face amount of bonds expected to be issued for the project, and the issuer’s reasonably expected schedule for spending proceeds of clean renewable energy bonds.

g. Dollar amount of allocation re- quested . The application must specify the dollar amount of the clean renewable energy bond limitation requested.