(1) When gubernatorial approval is required by the provisions of the Tax Equity and Fiscal Responsibility Act of 1982, Pub. L. No. 97-248, or any other federal or state law, the Governor is authorized to approve the issuance of bonds by the Arkansas Development Finance Authority upon receipt of written request for approval from the Board of Directors of the Arkansas Development Finance Authority.
(2) The written request shall state that the authority has conducted a public hearing pursuant to appropriate public notice concerning the purposes for which the bonds are to be issued, shall contain a description of the project or projects to be financed, and shall describe the method of financing the project or projects.
(3) The written request shall also summarize the comments made and questions posed at the public hearing.