Section 3.99.120. Financing preparation.

	(a)  An applicant for financing under the conduit revenue bond program must provide information requested by the authority and must notify the authority of any change in the project or the applicant that occurs after the original submission of the application that may affect the eligibility of the project or the applicant for participation in the conduit revenue bond program. The authority may request information that the authority considers necessary or appropriate to permit preparation of the necessary loan and bond documents. The authority will work with the applicant and the bond purchaser to prepare substantially completed drafts of the loan and bond documents for the applicant's project for presentation to the board under 3 AAC 99.130.  
	(b)  The authority may terminate the application process if the authority determines that either the project or the applicant is not eligible for participation in the conduit revenue bond program or if the authority determines that the applicant has failed to provide the information required by (a) of this section or if the authority determines that the applicant has failed to cooperate with the authority sufficiently to permit preparation of the documents described in (a) of this section. The authority will notify the applicant if the authority terminates the application process.  

Authorities

44.88.080;44.88.085;44.88.090;44.88.095

Notes

Authority

AS 44.88.080 AS 44.88.085 AS 44.88.090 AS 44.88.095

History

In effect before 1988; am 1/11/88, Register 106; am 11/30/90, Register 118; am 2/11/99, Register 150; am 11/1/99, Register 153; am 12/3/2010, Register 197