05-071-64 Me. Code R. § 5

Current through 2024-44, October 30, 2024

Section 071-64-5 - MAINE SCHOOL FACILITIES FINANCE PROGRAM

A. The Bank shall be responsible for the following:

1) The loan application to eligible school administrative units;

2) The loan agreement with eligible school administrative units;

3) The management of all loans from the Revolving Renovation Fund;

4) That the applicant certifies to the Bank that it has secured all permits, licenses and approvals necessary to undertake the renovations and construct the improvements to be financed by the loan; and

5) That the applicant demonstrates to the satisfaction of the Bank that it has the ability to repay the loan made to the school administrative unit by the Bank.

05-071 C.M.R. ch. 64, § 5