1. (a) The Commission, in consultation with the Bank, shall develop a formal application form to be included in the formal application process to assist in the evaluation of a loan submission. The application may require certain attachments and certifications.

2. (b) At a minimum the application for funds will include:

   1. (1) the full legal name and description of requesting loan Applicant and each participating political subdivision under which debt is being issued;
   2. (2) a description of the governing body and contact information for person authorized to represent the political subdivision. Include name, title, address, phone, fax number, and e-mail address;
   3. (3) the name, address, phone, fax number, e-mail address, and contact person for legal counsel, financial advisor, contract administrator, project engineer, and any other consultant representing the applicant;
   4. (4) the prior three years audited financial statements, as applicable, and projected financial statements, including loan repayment. The financial documents must include the applicant's income statement, balance sheet and cash flow statement;
   5. (5) documentation of attempts to obtain alternative financing, if applicable;
   6. (6) a statement that financing is necessary because full financing is unavailable in traditional capital markets or credit has been offered on terms that would preclude the success of the project;
   7. (7) a financial plan that shows how loan proceeds will generate income to repay the loan;
   8. (8) the number of jobs to be created and/or retained in the state; and
   9. (9) the project budget, including the most current itemized project cost estimates (include all costs, specifically construction, engineering services, legal, and fiscal costs, and funding sources and percentage contribution in a Sources and Uses Statement format). Identify source of these estimates (i.e., engineer, finance director, financial advisor).

3. (c) Applicant shall also include one (1) certified original of:

   1. (1) a resolution/ordinance requesting financial assistance from the Commission authorizing the submission of the application and designating the official representative(s) for submitting the application, executing any necessary documents and appearing before the Commission;
   2. (2) an affidavit executed by the official representative stating that the facts contained in the application are true and correct to the best of their knowledge and belief;
   3. (3) an affidavit executed by the official representative stating that the application was approved by the governing body of the applicant in an open meeting;
   4. (4) a certificate of compliance executed by an official representative which warrants compliance by the participating political subdivision with all representations in the application, all federal (where applicable), state, and local laws, and all rules/published policies of the Commission and EDT; and
   5. (5) a statement of pending claims or litigation against the applicant that might affect the ability of the applicant to issue debt or that could affect the Commission's ability to recover its investment.
4. (d) Application and closing fee. Applicants shall pay a fee provided as prescribed by the Bank for all applications, made payable to the Office of the Governor. In addition, successful applicants may be required to pay, upon financing by the Bank, a closing fee.

Source Note:The provisions of this §4.4 adopted to be effective October 10, 2010, 35 TexReg 9077; amended to be effective January 28, 2016, 41 TexReg 681.