94- 457 C.M.R. ch. 107, § 3
The Authority will review only complete applications. An application will not be complete without a Certificate of Approval from the Maine Public Utilities Commission. Once a complete application is received it will be reviewed in the normal course of the Authority's business and voted upon by the Board. Following approval by the Board, a financing commitment will be issued and must be executed by the applicant within the time provided for therein, which may not exceed sixty days. In the event that aggregate applications are received in excess of the dollar amount of bonding authority available, then applications will be considered on a "first come, first served" basis based on the date and time a complete application is received by the Authority. The Authority will document the date and time of receipt of a complete application. If an incomplete application is received at the Authority, documentation of that incompleteness will be explicit, written notice thereof will be given to the applicant, and subsequent completion of the application will be explicitly documented. No application will be deemed received for purposes of establishing priority until the application is complete as determined by the chief executive officer. If an applicant does not execute a financing commitment and pay all fees required to be paid within the time provided in the financing commitment, the application shall be deemed withdrawn and the next project for which the Authority has received a complete application will be entitled to first priority.
94- 457 C.M.R. ch. 107, § 3