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     1-16B-40.   Application by local agency for loan--Contents. Prior to loaning of any funds to an enterprise for a development project, the authority shall receive from the enterprise a loan application in the form adopted by the authority which shall contain, without being limited to, the following provisions:
             (1)      A general description of the development project and a general description of the enterprise for which the development project has been or is to be established;
             (2)      A legal description of all real estate necessary for the development project;
             (3)      Plans and other documents to show the type, structure and general character of the development project;
             (4)      A general description of the number, types and skills of employees to be employed;
             (5)      The cost or estimates of cost of establishing the development project;
             (6)      A statement of the value of any property which the enterprise applied or intends to apply to the establishment of the development project;
             (7)      A statement of cash funds previously applied, or at present held by the enterprise which are to be applied to the establishment of the development project;
             (8)      Evidence of the arrangement made by the enterprise for the financing of all costs of the development project;
             (9)      Evidence that the development project probably will not cause the removal of a plant or facility from one area of the state to another area of the state;
             (10)      Any additional evidence pertinent to a determination of the probable success of the development project at the selected location, and evidence that a substantial increase in employment and payrolls will probably result from the granting of the loans;
             (11)      Evidence that the enterprise does currently or will possess the ability to obtain the revenues which will be used to repay a loan to finance the development project.

Source: SL 1978, ch 9, § 31; SL 1986, ch 14, § 12.


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