060-36 Wyo. Code R. §§ 36-5 - Application Procedure

(a) Applications. Separate applications shall be prepared for each project. Applicants shall submit 3 copies of their completed application to the Division.

(b) Timing. The Division shall receive properly executed loan applications for loans under this chapter at least 15 working days before the next regular Aeronautics Commission meeting.

(c) Information Required. A properly executed loan application shall be submitted. The Division shall provide the applicant with the application forms. The following items shall be provided in the application package:

(i) A full description of the proposed project, including a licensed engineer's statement of feasibility for the project, if applicable.

(ii) The loan amount requested and the proposed source of repayment.

(iii) A description of other project funding sources committed and the anticipated portion of the project cost to be funded from each source, including any future loan applications under this chapter. A copy of the funding commitment from other participants shall be provided if requested by the Commission.

(iv) Most recent audit of financial statements. If applicant does not have audited financial statements, a current balance sheet and income statement must be provided.

(v) If requested by the Commission, a copy of the joint powers agreement approved by the Attorney General and a copy of the certificate of organization filed with the Secretary of State.

(vi) A list of sources for repayment of this loan, including amounts to be used for this purpose and, if applicable, letters of commitment from prospective lessees to assist in establishing the estimated utilization factor and in calculating repayment capability.

(vii) Other applicable information the Commission deems reasonable, prudent, and necessary.

(d) Preliminary Review. Within 10 working days of receiving an application for a loan, the Division shall notify the applicant, in writing, if the application lacks any item required in preceding subsection (c) of this section. The applicant shall have 10 working days to submit the required information.

(e) Incomplete Applications. Incomplete applications shall not be presented to the Commission for consideration.

Notes

060-36 Wyo. Code R. §§ 36-5