Section 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.Eff. 12/3/2015, Register 218, July 2016Even 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