830 R.I. Code R. 830-RICR-10-40-1.7

Current through December 3, 2024

Section 830-RICR-10-40-1.7 - Loan Application

A. 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 funds acceptable to the Bank including but not limited to an appropriations pledge.

3. 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

f. 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-10-40-1.7

Adopted effective 7/11/2023