(a) Applications. Separate applications shall be prepared for each project on a form provided by the Office. Applicants shall submit three (3) copies of their completed application to the Office.
(b) Timing. Applications for loans under this chapter must be received at least sixty (60) calendar days prior to any scheduled meeting of the Board. Applicants must cure any defects in their applications no later than twenty (20) calendar days before any regular or special meeting of the Board.
(c) Information Required. The following information shall be provided in the application - (i) Application cover page on a form provided by the Office.
- (ii) A full description of the proposed project and detailed cost estimate, including a licensed engineer's statement of feasibility of the project, if applicable.
- (iii) A project schedule which includes design, commencement date and completion date for the project.
- (iv) The loan amount requested and source of repayment, including a Resolution authorizing the loan and showing dedicated sources of repayment.
- (v) A copy of the applicant's financial statements for the last three (3) years. If an independent audit is not performed, then applicant can submit the last three (3) years of Financial Forms (Survey of Local Government Finances F-32 and F-66WY4 for special districts, Annual City and Town Financial Report F-66WY2 for Cities and Towns).
- (vi) A copy of the applicant's annual budget for the preceding and current fiscal years that includes, but is not limited to the following information:
- (A) Assessed valuation for the current and two preceding fiscal years;
- (B) Total bonded and non-bonded indebtedness, including outstanding principal balance, interest rate, and remaining term;
- (C) Total mills levied within the jurisdiction of the applicant for the current and two preceding years; and, a breakdown of the mill levy for the current fiscal year;
- (D) Sales and use tax imposed within the jurisdiction of the applicant;
- (E) A summary of the applicant's total investments and cash balances for the two preceding fiscal years;
- (F) If the application is for a water or sewer project the applicant's current water and sewer rates, tap fees and an indication if water meters have been installed.
- (G) If the application is for a street and road project, a Completed Street Questionaire is required.
- (H) If the application is for Fire Apparatus Projects, a Completed Fire Apparatus Questionaire is required.
- (vii) Applicant shall provide all other documentation and information required by the Office.
- (viii) A description of other project funding sources, committed or pending, and the portion of the project cost expected to be funded from each source, including any future loan applications under this chapter. A copy of the funding commitment from other participants must be provided.
- (ix) If applicable, a copy of the joint powers agreement approved by the Attorney General and a copy of the certificate of organization filed with the Secretary of State.
- (x) If the applicant is a special district, the application shall also include documentation of the formation of the special district and certification by the Board of County Commissioners that the special district currently exists.
- (xi) Applications shall be properly executed by the officers of the applicant. A copy of the "Standard Resolution" form provided by the Office authorizing the filing of the application and providing for a dedicated source of repayment acceptable to the Office, shall be attached.
(d) Preliminary Review. The Office shall notify the applicant, in writing, if the application lacks any of the items required in subsection (c) of this section.
(e) Incomplete Applications. Incomplete applications, those missing one or more of the information items requested and/or failing to meet established deadlines, shall not be presented to the Board for consideration.