3 AAC 103.090 - Loan committee
(a) Once the authority determines that a
complete application for an eligible project has been submitted for review, the
authority will notify the applicant in writing that the application is deemed
complete.
(b) After payment of the
application fee, a completed application will be reviewed by a loan committee
for the purpose of making a recommendation to the board regarding the requested
financing. The loan committee for the Arctic infrastructure development program
and fund will consist of one or more of the authority's employees the executive
director may designate. With the executive director's approval, the loan
committee may engage and consult professional advisors in considering an
application.
(c) The loan
committee may request modifications to the completed application or changes in
the terms of the requested financing.
(d) The loan committee's approval of the
completed application will constitute a recommendation to the board for its
approval of the requested financing. The loan committee's rejection of a
completed application will constitute a recommendation to the board that the
requested financing be rejected.
Notes
Even though the adoption of 3 AAC 103.090 was effective 12/3/2015, it was not published until Register 218, July 2016.
Authority:AS 44.88.085
AS 44.88.800
AS 44.88.820
AS 44.88.830
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