830 R.I. Code R. 830-RICR-10-05-1.4

Current through December 3, 2024
Section 830-RICR-10-05-1.4 - Loan Application
A. Requests for financing should be submitted in writing by the Chief Executive Officer or other authorized officer of the Borrower to the Executive Director of the Bank. The written request should generally include:
1. A description of the project(s) to be financed with the projected construction and completion schedule. In the case of a refinancing, a description of the completed project and the terms and source of previous financing.
2. A description of the source of repayment, i.e., general revenues of the Borrower or other source of revenue acceptable to the Bank; appropriations pledge; or other dedicated source revenue of the Borrower.
3. A description of the overall operations of the Borrower, including but not limited to the most recent annual report or audited financials, with an emphasis on:
a. Legal structure;
b. Management;
c. Sources of revenues;
d. Operating expenses;
e. Operating surpluses or deficits;
f. Actual results versus budget;
g. Sources of financial liquidity.
4. Legal authority or authorities to construct, finance and operate the project.
5. The past five years Audited Financial Statements in accordance with Generally Accepted Government Accounting Standards.
6. Financial and demographic information.
7. Such other information as the Bank may reasonably require.

830 R.I. Code R. 830-RICR-10-05-1.4