830 R.I. Code R. 830-RICR-10-25-1.4

Current through December 3, 2024

Section 830-RICR-10-25-1.4 - Application for Financing

A. Requests for financing should be submitted in writing by the Chief Executive Officer of the eligible borrower to the Executive Director of the Bank. The written request must include:

1. A description of the project(s) to be financed with the projected construction and completion schedule.

2. A description of the source of repayment (i.e. general revenues of cities and towns; appropriations pledges; site revenues; redevelopment financing; or other repayment source that is secured by the Borrower).

3. A description of the overall operations of the eligible borrower 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; and

g. Sources of financial liquidity.

4. Legal authority or authorities to construct, finance and operate the project.

5. Audited Financial Statements in accordance with General Accepted Accounting Standards for the previous five years.

6. Financial and demographic information, if a governmental unit.

7. Copies of contracts with the vendors that will complete site remediation, if available.

830 R.I. Code R. 830-RICR-10-25-1.4