Section 830-RICR-10-10-1.5 - Loan Approval ProcessA. Loan approvals are subject to the following terms: 1. That all projects to be funded appear on the Rhode Island Department of Health ("RIDOH") Project Priority List and have Certificates of Approval issued.2. That the loan complies with all federal, state and Bank laws, rules and regulations.3. That the loan and debt service requirements be approved by any applicable regulatory Agency.4. That a satisfactory loan agreement be signed by all parties to the transaction.5. That the loan will be made subject to availability of funds as related to the Bank's capacity; and that the loan will be made subject to ranking on RIDOH's Project Priority List.6. The Bank will conduct a financial analysis for each loan application which may include, but not be limited to: a. sources of revenue and financial liquidityb. historical and projected financial operating resultsc. present and future debt service requirementsd. current assignment of water rates and other revenues generated from user feese. ability to increase water rates and/or secure alternative revenue sourcesf. cost of the project and estimated completion scheduleg. long term capital replacement planningh. socioeconomic conditions and trendsi. management qualifications and experiencej. effects of legal structure and any regulator controlk. a Consulting Engineer's Water Facility and Financial Feasibility Report, if applicablel. history of applicant/systemm. any other information that the Bank or its Board of Directors may require.B. If the Board approves the application, a Commitment Letter will be issued to the Borrower for their acceptance, outlining the terms and conditions of the loan.830 R.I. Code R. 830-RICR-10-10-1.5