15 CAR § 2-305 – Application verification and approval as to legality

(a) All applications for financial assistance shall contain the following statement signed by the chief executive officer of the applicant: "To the best of my knowledge, all statements of fact contained herein are true and correct as of the date hereof."
(b)
1. (1) Additionally, each application shall, at the time of submission, be approved as to legality by applicant's legal counsel.
2. (2) Such opinion shall normally reflect the:
  1. (A) Valid formation and existence of the applicant;
  2. (B) Due authority of the person or persons signing the application; and
  3. (C) Legality of the means proposed to finance the project.
(c) In addition, the application shall be subject to approval by the Arkansas Natural Resources Commission's legal counsel, if deemed advisable.