Kan. Admin. Regs. § 110-3-6

Current through Register Vol. 43, No. 49, December 5, 2024

Section 110-3-6 - Conditions of final loan approval

(a) Each prospective recipient of a Kansas partnership fund loan shall provide the following additional information before final loan approval is granted:

(1) Documentation of a firm financial commitment to locate or expand business operations by the business which would directly benefit from the proposed public improvements;

(2) evidence of local awareness of the project application, including public hearings;

(3) a description of the applicant's control of project site, including any leases, easements, covenants, or encumbrances which may affect the project;

(4) evidence of the adequacy and reliability of the dedicated source of repayment for loan principal and interest;

(5) evidence of the applicant's ability to administer the project and to comply with state loan requirements;

(6) evidence of the applicant's ability to adequately fund necessary maintenance of the improvements; and

(7) evidence of the project's compliance with applicable state laws, rules and regulations.

(b) Any information provided by the applicant or available from other sources may be considered by the secretary in granting final loan approval.

(c) Each loan shall be subject to the availability of funds.

Kan. Admin. Regs. § 110-3-6

Authorized by and implementing L. 1988, Ch. 394, Sec. 2; effective Feb. 27, 1989.