1. (a) Applications for a credit enhancement under RSA 162-A:10 shall be made by the local development organization.

2. (b) Such applications shall provide the following information:

   1. (1) The name and address of local development organization;
   2. (2) A statement of history and mission of local development organization;
   3. (3) A description of form and structure of local development organization;
   4. (4) A statement of support from municipalities served by local development organization;
   5. (5) A financial statement or statements of the local development organization prepared by an independent accountant;
   6. (6) A certification stating compliance by the business or project with the Americans With Disabilities Act and Equal Opportunity Act;
   7. (7) The name and address of the borrower;
   8. (8) The name and address of project(s) involved in the transaction;
   9. (9) The line(s) of business(es) of the borrower;
   10. (10) The background on management of business or project;
   11. (11) A description of principal factors that make the transaction speculative or one of high risk;
   12. (12) A description of all material legal proceedings affecting business or project;
   13. (13) A disclosure of all persons who shall receive, either directly or indirectly, any proceeds of the loan acquisition as compensation for services;
   14. (14) A statement as to the accounting treatment of transaction;
   15. (15) A description of the terms of the proposed loan purchase agreement;

   16. (16) A summary of material terms of financing documents to be acquired including, but not limited to:

       1. a. Loan agreements;
       2. b. Lease agreements;
       3. c. Acquisition agreements;
       4. d. Security agreements; and
       5. e. Guarantee agreements;
   17. (17) A description of local development organization's ability to monitor performance of business or project;
   18. (18) A detailed history of loan performance;
   19. (19) A detailed history of borrower's compliance with all terms of the financing documents;
   20. (20) An identification of primary and secondary sources of repayment by business;
   21. (21) A cash flow analysis;
   22. (22) The copies of professional appraisals of collateral;
   23. (23) The appraisal required by Bfa 301.02(f);
   24. (24) An environmental site assessment if real estate is involved;
   25. (25) The financial statements, prepared by an independent accountant, for the business or project for three years prior to current year;

   26. (26) A certification by each party to the transaction of the following:

       1. a. The local development organization or business entity is duly organized, validly existing and in good standing under the laws of the state;
       2. b. The local development organization or business entity is not in violation of any term of its articles of incorporation or by-laws;
       3. c. The local development organization or business entity is not in violation of any term of any mortgage, loan agreement, or indenture to which it is a party or by which it is bound; and
       4. d. The local development organization or business entity is not in violation of any term of any other agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation;
   27. (27) A detailed analysis of the specific use(s) and purpose(s) to which the local development organization shall apply the proceeds of the loan to be acquired;

   28. (28) A statement identifying the following:

       1. a. The ways the transaction serves a public use and provides a public benefit;
       2. b. The ways the transaction promotes the social welfare and economic prosperity of the area and the general welfare of New Hampshire citizens;
       3. c. The ways the transaction promotes development of business activities, creates or preserves employment opportunities, or protects physical environment; and
       4. d. The ways the transaction supports consistent application of local and regional development plans and policies;
   29. (29) The number of employment positions current, created, preserved and projected;
   30. (30) The number of full-time employees and part-time employees; and
   31. (31) The estimated wage levels of current and projected jobs.
3. (c) In the event the requested information cannot be provided, a detailed explanation of the reason why the requested information cannot be provided shall be included in said application.

Source. (See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93