830 R.I. Code R. 830-RICR-10-15-2.4

Current through December 3, 2024
Section 830-RICR-10-15-2.4 - Loan Application
A. Request for financing under the Facilities Plan Loan Program should be submitted in writing by the chief executive officer or other authorized officer of the local governmental unit to the Executive Director of the Bank. The written request shall include:
1. A projection of the total actual costs for preparing the Facility Plan or amendments or updates to such plans as approved by the Department of Environmental Management.
2. A description of the dedicated source of loan repayment, i.e. general revenues from property taxes of cities and towns, wastewater system revenues, or other sources available to the local governmental unit and deemed acceptable by the Bank
3. A description of the overall operations of the local governmental unit, 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 borrow from the Facilities Plan Loan Program.
5. Other information reasonably requested by the Bank.

830 R.I. Code R. 830-RICR-10-15-2.4