004-3 Wyo. Code R. § 3-8

Current through April 27, 2019

Section 3-8 - Post-Closing

(a) Subsequent requirements. The State Treasurer's Office shall continue to monitor the loan or loan guarantee after the closing. The documents shall contain periodic reporting and compliance requirements that applicant shall be required to satisfy. These reporting and compliance requirements may include, without limitation,

• (1) an as-built survey,

• (2) notification of other debt,

• (3) annual financial statements,

• (4) copies of tax returns,

• (5) number and types of jobs created,

• (6) property valuation of project for property tax purposes, and

• (7) notice of any regulatory violations. In addition, applicant shall provide to the State Treasurer's Office, with a copy to the Wyoming Business Council, an annual progress report updating the status of the project being financed by the loan or loan guarantee.

(b) Subsequent disbursements. Loan proceeds will be disbursed only after project expenses have been incurred. A disbursement request must be provided before closing for loan proceeds to be disbursed at closing, and loan proceeds will be disbursed only for expenses related to the project and incurred after the date applicant first submitted the project to the Governor for preliminary recommendations as provided in Section 5(a)(i) above. Any loan proceeds which are not disbursed on the day of closing will be held by the State Treasurer until applicant has submitted a disbursement request and proof of eligible expenses as shall be provided in the loan documents and as described in Section 6(b) above and approved by the State Treasurer's Office.

004-3 Wyo. Code R. § 3-8

Adopted, Eff. 4/7/2015.