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�+��+�a.u4l, 1UU� Ni»�nesot�a �tattltes <br />Pa�e 2 of ? <br />iloncompli�ai�ce if a project is £ound by the issuer io be o�it of conlpliance �vEth tl�e <br />rental rate or income level requirements under subd.ivision 1. The o�vner or own.ers af tlle <br />project sl�all pay a�enalty to the issuer ec�ua.l to one-half of one perce�lf o£the tota] <br />amo«�lt ofbonds issued for tlle project under this chapter if t��e issucY• iss�€.es an orde�- of <br />��oncor�lpliance. �or each additioual year a project is out of compliance, the alu3ual <br />pc�zalty rz�ust �e i��.creased by one-halt'of otie per•cent oithe totaf al�lount of bonc�s issued <br />under this cha.}�ter for t11e project. The iss�ucr may waive insubstantial violati.ons. <br />H.istory: 1990 c 552 s i; 1991 c 34G s 13,14,° 1992 c 545 ar� 1. s 5; 1993 c 1 C�4 s 4; <br />1994 c�27 s 6; 1997 c 169 s�; 2000 c 493 s 1S; 200i c 214 s 24,?S; 20Q8 c 366 ai�t 5 s <br />19 <br />f��ttps:ll����t��v.rcvrs�or.leg.state.nin.uslstat�ifesl?id=474A.047 ?I212009 <br />