- 4 -
|
Page 4 of 7 Fileid: … ns/i8038/202202/a/xml/cycle02/source 12:26 - 24-Jan-2022
The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
As described August 5, 1997, if 95% or more of the purchase price, including accrued
Facility types include... in section... net proceeds are used solely for capital interest. See Regulations section
expenditures incurred after that date. 1.148-4 for specific rules to figure the
Environmental yield on an issue. If the issue is a
enhancements of Line 19. Enter the issue price if the
variable rate issue, write “VR” as the
hydroelectric generating 142(a)(12) and bonds are used to acquire
yield of the issue. For other than
facilities 142(j) nongovernmental output property,
variable rate issues, carry the yield out
which is property used by a
to four decimal places (for example,
High-speed intercity rail 142(a)(11), nongovernmental person in connection
5.3125%).
facilities* 142(c), and with an output facility (such as an
142(i) electric or gas power project). Part IV—Uses of Proceeds of
*Note. Proceeds of an exempt facility bond may not
be used for this type of facility if there is a Line 20a. For IRS use only. Do not Issue
nongovernmental owner of the facility unless that make an entry. Line 22. Enter the amount of proceeds
owner makes an irrevocable election not to claim (1)
depreciation under section 167 or 168, or (2) any Line 20b. If the Form 8038 is filed that will be used to pay interest on the
credit against its income tax with respect to the because the bonds are treated as issue accruing prior to the date of issue.
property financed with the net proceeds of the issue. reissued (i) pursuant to Regulations For definition of date of issue, see these
section 1.141-12 or other applicable instructions, line 7.
authority concerning remedial actions, Line 24. Enter the amount of the
Line 12b. This line is for IRS use only. or (ii) because of a significant proceeds that will be used to pay bond
Do not make an entry. modification described in Regulations issuance costs, including fees for
section 1.1001-3 or other applicable trustees and bond counsel. If no bond
Line 13. Check the box if the issuer authority, complete line 20b, proceeds have been used to pay bond
has elected, in the bond indenture or Reissuance, by writing a description of issuance costs, enter zero. Do not leave
related document, to pay to the United the original type of issue (for example, this line blank.
States the amount described in section tax-exempt governmental bonds,
143(g)(3)(D). qualified 501(c)(3) bonds, Build America Line 25. Enter the amount of the
Line 14. Enter the issue price if the bonds, qualified energy conservation proceeds that will be used to pay fees
bond issue is an exempt issue of $10 bonds, exempt facility bonds, qualified for credit enhancement that are taken
million or less for which an election small issue bonds, etc.) in the space into account in determining the yield on
under section 144(a)(4) has been made provided and entering the amount of the issue for purposes of section 148(h)
by the issuer at or before the time of bonds treated as reissued in the issue (for example, bond insurance premiums
issuance on the bonds or in its records. price column. and certain fees for letters of credit).
See section 144(a). Check the box if the Line 20c. Enter the issue price only if Line 26. Enter the amount of the
$10 million small issue exemption none of the lines above apply and you proceeds that will be allocated to such a
applies. are required to file an information return fund.
Line 17. Attach a schedule listing the for a private activity bond. Enter a Line 27. Enter the amount of the
name and EIN for each section 501(c) description of the bond type. proceeds that will be used to pay
(3) organization benefiting from these Part III—Description of Bonds principal, interest, or call premium on
qualified hospital bonds. any tax-exempt bonds, including
Line 21. For column (a), the final proceeds that will be used to fund an
Line 18. Enter the total amount of maturity date is the last date the issuer escrow account for this purpose.
qualified nonhospital bonds described must redeem the entire issue.
in section 145(b)(2) that are a part of Line 28. Enter the amount of the
this issue. For each section 501(c)(3) For column (b), see Issue price under proceeds that will be used to pay
organization benefiting from these Definitions, earlier. principal, interest, or call premium on
qualified nonhospital bonds, attach a For column (c), the stated any taxable bonds, including proceeds
schedule listing: redemption price at maturity of the that will be used to fund an escrow
entire issue is the sum of the stated account for this purpose.
1. The name of the organization; redemption prices at maturity of each
2. Its EIN; bond issued as part of the issue. Part V—Description of Property
3. The amount of this issue of bonds For column (d), the weighted average Financed
benefiting the organization; and maturity is the sum of the products of Line 31. Enter the amount of
the issue price of each maturity and the nonrefunding proceeds used to finance
4. If the box for line 18 is not checked, number of years to maturity (determined real and depreciable personal property
the amount of all other nonhospital separately for each maturity and by and if the bonds are qualified 501(c)(3)
bonds outstanding as of the date of taking into account mandatory bonds, the proceeds used to refund
this issue that benefit the redemptions), divided by the issue price taxable bonds used to finance real and
organization. of the entire issue (from line 21, column depreciable property. If the amounts are
(b)). not available at the time of issuance,
Note. The amount in item 4 above plus make a reasonable proration between
line 18 cannot exceed $150 million with For column (e), the yield, as defined
respect to bonds issued (a) prior to in section 148(h), is the discount rate the land, buildings, and equipment.
August 6, 1997, and (b) after August 5, that, when used to figure the present
1997, if used for noncapital value of all payments of principal and Note. Under section 147(c), a private
expenditures. The $150 million limit interest to be paid on the bond, activity bond is not a qualified bond if
does not apply to bonds issued after produces an amount equal to the 25% or more of the proceeds are used
-4- Instructions for Form 8038 (Rev. 2-2022)
|