830 R.I. Code R. 830-RICR-10-05-3.8

Current through December 3, 2024

Section 830-RICR-10-05-3.8 - Loan Application

A. A loan application may include but not be limited to:

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. How the Project will address at least one of the categories within § 3.5 of this Part.

3. A description of the source of repayment, i.e., general revenues of the Borrower or other source of funds acceptable to the Bank including but not limited to an appropriations pledge.

4. A description of the overall operations of the Borrower, including but not limited to the most recent annual report and audited financials, with an emphasis on:

a. Legal structure;

b. Management;

c. Sources of revenues;

d. Operating expenses;

e. Operating surpluses or deficits; and

g. Sources of financial liquidity.

5. Legal authority or authorities to construct, finance, and operate the Project.

6. Financial statements in a form acceptable to the Bank.

7. Financial and demographic information.

8. Such other information as the Bank may reasonably require.

830 R.I. Code R. 830-RICR-10-05-3.8

Adopted effective 2/19/2024