SECTION 355:10-5-2. Loan application contents

  To be eligible for consideration each loan application must be completely filled out with complete information as requested on the form. Each application must contain an appraisal or acceptable cost estimate for the industrial project. The real property and equipment which will secure the loan must be properly identified. There must be a general description of the enterprise to be financed. The application should contain biographies and financial statements on the individual principals behind the responsible tenant that will occupy the industrial premises. The application should also contain a complete description of the financing package with other financing sources and capital to be invested in the industrial project. The loan application must contain a description of the proposed contract between the responsible tenant and the industrial development agency and also the proposed contract between the industrial development agency and the OIFA. The loan application must state with particularity how the financing of this project will satisfy the public purposes of the OIFA Act and the criteria adopted by the OIFA.