In lieu of the allocation of the State ceiling provided under Federal law, that portion of the State ceiling allocated to the Authority pursuant to applicable State law shall be allocated to issuers of private activity bonds as provided in this rule, provided that the Authority shall observe specific reservations for designated categories of projects and repooling dates pursuant to any applicable State law, and the categorical reservations in section 3 shall be subject to such law.
94- 457 C.M.R. ch. 203, § 2