Section 3-3 - Application Submittal Requirements (a) In addition to application requirements in Chapter 1, the following items are required: - (i) A copy of the signed resolution of support from the applicant or the member agencies if the applicant is a joint powers board that includes source of repayment of the loan and the proposed security for the loan;
- (ii) If applicable, documentation of any environmental requirements (at the expense of the borrower). Council staff will determine the level of environmental review required;
- (iii) If applicable, determination if property is subject to federal flood regulations. An applicant must include a federal floodplain map and identify location of proposed collateral. If necessary, flood and hazard insurance will be required at the expense of the borrower;
- (iv) If applicable, an applicant must include guarantees, letters of credit and any other proposed security;
- (v) A letter from the applicant's attorney addressing the following in detail:
- (A) The applicant's authority to enter into the loan;
- (B) The applicant's current indebtedness and borrowing capacity;
- (C) Whether or not this loan will require an election;
- (D) Method of repayment and revenue sources;
- (E) Affirmation that Wyoming State Constitution debt provisions and all other applicable statutes will be followed.
- (vi) In order for the Council to determine the ability of the applicant to repay a loan and to aid the Attorney General in evaluating the legality of the proposed indebtedness, an applicant shall provide an annual budget for the preceding and current fiscal years and a completed financial statement provided on a "General Financial Information" form provided by the Council staff, that includes, but is not limited to the following information:
- (A) Assessed valuation for the current and two (2) 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 (2) 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 three (3) preceding fiscal years.
- (vii) Council staff may require additional information in accordance with Council loan policies.
- (viii) Other applicable information as requested by the Council staff.