§ 4-31-405. Administration of Loans
The authority shall administer loans made under this part. In so doing, the authority may adopt rules and regulations necessary for the effective administration of this part, including the promulgation of prerequisites that must be fulfilled by the local government unit in order to be eligible for a loan, procedures to be followed in making […]
§ 4-31-406. Loan Agreements
Subject to § 4-31-405 and subject to any existing contractual obligations of the local government, the authority may enter into loan agreements with any local government unit and any local government unit may enter into loan agreements with the authority for loans for capital projects described in this part. Any loan agreement may include such […]
§ 4-31-407. Further Agreements and Guarantees
The authority has the right to enter into such further agreements with a local government unit and require such further guarantees or securities as it may see fit prior to, or simultaneously with, the issuance of bonds or to refuse to issue bonds until such agreements or securities, in any form that the authority may […]
§ 4-31-408. Preparation and Approval of Agreements — Approval of Funding — Payments Subject to Audit
The authority shall prepare, and the attorney general and reporter shall approve, a form of loan agreement to be used to evidence loans made to local government units pursuant to this part. All loan agreements entered into pursuant to this part shall be subject to approval by the commissioner of finance and administration as to […]
§ 4-31-409. Allocation of Funds — Criteria
In allocating loan funds to local government units, the authority shall give consideration to, and apply, the following standards and criteria: The need and desirability for capital projects; and The ability of the local government unit to secure borrowed money from other sources and costs thereof.