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Rule Title: CRITERIA FOR EVALUATION OF ALL PROGRAM APPLICATIONS
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Department: COMMERCE, DEPARTMENT OF
Chapter: BOARD OF INVESTMENTS
Subchapter: Municipal Finance Consolidation Program
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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8.97.719    CRITERIA FOR EVALUATION OF ALL PROGRAM APPLICATIONS

(1) In evaluating applications for financing under the program, the board shall consider the following factors:

(a) the lawfulness and validity of the purpose to be served by the financing;

(b) the ability of the eligible government unit to secure borrowed money from other sources and the costs thereof;

(c) the ability of the eligible government unit to pay principal of and interest on its obligations when due;

(d) the priority of need for the particular public improvement or purpose to be financed;

(e) the chronological order of receipt of a completed application;

(f) compliance with other eligibility requirements as set forth in these rules;

(g) compliance with the underwriting standards of the board used to determine whether the eligible government unit has sufficient funds or ability to repay a program loan. A copy of the applicable underwriting standards may be obtained from the bond program office; and

(h) other information as the board may deem necessary.

(2) As required by 2-4-305 , MCA, notice is hereby given that (1) (a) , (b) , (c) and (d) repeat parts of 17-5-1611 , MCA, and are included in this rule in order to provide the public with full disclosure of all evaluation criteria.

History: Sec. 17-5-1605, MCA; IMP, Sec. 17-5-1611, MCA; NEW, 1992 MAR p. 2275, Eff. 10/16/92; AMD, 1996 MAR p. 766, Eff. 3/22/96.


 

 
MAR Notices Effective From Effective To History Notes
3/22/1996 Current History: Sec. 17-5-1605, MCA; IMP, Sec. 17-5-1611, MCA; NEW, 1992 MAR p. 2275, Eff. 10/16/92; AMD, 1996 MAR p. 766, Eff. 3/22/96.
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