reglab/statecodes huggingface dataset:
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 5 - Development Finance Program › 3 AAC 99.590 - Fees and other charges

Current through May 31, 2024
(a) The nonrefundable application fee for
				  development project financing is
(1) $5,500
				  for financing of less than $10,000,000;
(2) $11,000 for financing from $ 10,000,000
				  to $20,000,000;
(3) $22,000 for
				  financing in excess of $20,000,000;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 5 - Development Finance Program › 3 AAC 99.595 - Closing

Current through May 31, 2024
(a) Upon written certification by both the
				  authority and the project applicant that all provisions of the commitment
				  letter have been complied with, the financing will be scheduled for closing and
				  disbursement of the financing proceeds.
(b) When the financing involves a development
				  project that the authority does not intend to own or operate and that will
				  generate power for sale into an existing public utility transmission or
				  distribution grid, the project applicant shall, before closing, provide the
				  authority with an executed off-take agreement, either in the form of a power
				  supply or power purchase agreement, the terms of which are, in all material
				  respects, in accordance with the expected terms provided with the application,
				  or with only those deviations from the expected terms that are acceptable to
				  the authority.
(c) The authority
				  may require in the financing agreement or other closing documents signed by the
				  project applicant that the project applicant periodically provide financial,
				  operational, or other information in a form acceptable to the authority in its
				  sole discretion to the authority over the term of the financing.
(d) The authority may require in the
				  financing agreement or other closing documents that the project applicant allow
				  the authority, or its designated agent, to periodically review the development
				  project by
(1) conducting an on-site visit
				  and inspection of the development project; and
(2) reviewing updated financial, operational,
				  or other information on the project applicant or the development
				  project.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 5 - Development Finance Program › 3 AAC 99.599 - Definitions

Current through May 31, 2024
In
					 3 AAC 99.500 -
					 3 AAC 99.599,
(1) "development project" has the meaning
				  given in AS 44.88.900;
(2) "development project financing" has the
				  meaning given in
				  AS
				  44.88.900;
(3) "full application" means an application
				  containing all the information required under
				  3 AAC 99.555(d);
(4) "project applicant" has the meaning given
				  in AS
				  44.88.900;
(5) "proponent" means a person or entity that
				  sponsors, advances, or advocates for a development project; "proponent" also
				  means project applicant;
(6) "real
				  property" has the meaning given in
				  AS
				  44.88.900;
(7) "working day" does not include a
				  Saturday, Sunday, or state holiday.
Authority:
AS
						44.88.080
AS 44.88.085
AS 44.88.172
AS
						44.88.900
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.700 - Scope of article

Current through May 31, 2024
3 AAC 99.700 - 3 AAC 99.790 apply
					 to guarantees by the authority, under the business and export assistance
					 program authorized by
					 AS
					 44.88.500-44.88.599, of a new loan or a loan
					 made to refinance existing debt.
Authority:
AS
						44.88.080
AS 44.88.085
AS
						44.88.560
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.710 - Eligibility

Current through May 31, 2024
(a) The authority may guarantee a new loan or
				  a loan to refinance existing debt if the loan is made to an Alaska business
				  enterprise whose majority interest is held by individual state
				  residents.
(b) The borrower must
				  have the financial and business ability, as determined by the authority, to
				  successfully repay the loan.
(c)
				  Guarantees for loans may be issued only if the loans
(1) are for commercially reasonable
				  purposes;
(2) will help to
				  stabilize the economic base of the area and create or maintain employment;
				  and
(3) allow the borrower to
				  create additional economic opportunity, improve the economic viability of the
				  borrower's domestic/or export business, and/or facilitate business
				  expansion.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.720 - Application

Current through May 31, 2024
(a) The authority will accept an application
				  for a guarantee only from the financial institution that will make the loan and
				  that has the ability to originate, service and collect the loan. An application
				  must contain information sufficient to allow the authority to determine whether
				  the loan is eligible for a guarantee under the limitations stated in
				  AS
				  44.88.500-44.88.599. An application must be
				  accompanied by evidence, satisfactory to the authority, that the financial
				  institution has conducted a credit investigation and by a statement of the
				  financial institution's determinations based upon the credit
				  investigation.
(b) The application
				  for a loan guarantee of $100,000 or less for a new loan may consist of the
				  following:
(1) a loan summary, including the
				  financial institution's loan approval;
(2) certification from the bank that a credit
				  check has been performed, that the borrower's credit record is satisfactory to
				  the bank, that any other bank-held debt is current, and that all statutory
				  requirements have been met; and
(3)
				  such other information the authority considers necessary to evaluate the
				  borrower and the project.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.730 - Conditions of guarantee

Current through May 31, 2024
(a) The authority
				  may not guarantee loans to refinance existing debt unless the conditions under
				  AS
				  44.88.525 have been met.
(b) The authority may not guarantee loans
				  unless the conditions under
				  AS
				  44.88.535 have been met.
(c) A guarantee issued by the authority for
				  loans must comply with the limitations set forth in
				  AS
				  44.88.540 and
				  44.88.545.
(d) The loan to be guaranteed by the
				  authority must be secured by a perfected first lien or security interest in the
				  real or tangible personal property offered as security, unless the authority
				  specifically waives the priority of the lien or security interest.
(e) Payment of guarantees will come
				  exclusively from reserves set aside by the authority for this purpose. The
				  holders of a loan guarantee issued by the authority can look only to the
				  reserves set aside by the authority for this purpose for payment of the
				  guarantee and not to the general assets of the authority. The guarantee
				  authorization shall expressly limit the liability of the authority as provided
				  in this paragraph. The authority will set aside adequate reserves to cover
				  outstanding guarantees. Upon request, the authority will provide information as
				  to the amount of the reserves set aside for this purpose.
Authority:
AS
						44.88.525
AS 44.88.530
AS 44.88.535
AS 44.88.540
AS
						44.88.545
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.740 - Review by authority

Current through May 31, 2024
(a) Repealed 9/25/92.
(b) If the authority approves an application,
				  the authority will issue a guarantee authorization to the financial institution
				  stating that a guarantee will be provided for a specified portion of the loan
				  under terms and conditions specified by the authority in the guarantee
				  authorization. Such terms and conditions, under which the guarantee will be
				  valid and binding, will be set out in the loan guarantee agreement and
				  guarantee authorization. No guarantee will be effective until the loan
				  guarantee agreement is executed by the financial institution and returned to
				  the authority and until the terms of the guarantee authorization are met. Any
				  violation by the financial institution of the terms and conditions set forth in
				  the loan guarantee agreement or in the guarantee authorization which causes or
				  contributes to a subsequent loss, will, at the option of the authority, cause
				  the guarantee to become null and void and absolutely unenforceable against the
				  authority as of the date of the violation. If the authority disapproves an
				  application, the authority will notify the financial institution of the
				  disapproval.
Authority:
AS
						44.88.080
AS
						44.88.085
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.750 - Costs and fees

Current through May 31, 2024
(a) The financial institution that submits an
				  application under 3 AAC 99.720_must also submit a nonrefundable $250 fee with
				  the application. In addition, the financial institution, or any substitute
				  financial institution, or the borrower must pay a nonrefundable $500 fee for
				  any modification of the terms of the guarantee.
(b) The financial institution originating a
				  loan or the borrower must pay a guarantee fee equal to two percent of the
				  guaranteed amount of the loan as provided in the guarantee authorization. The
				  board shall review the fee structure periodically and may establish other fees
				  it determines commercially appropriate.
(c) The financial institution renewing a loan
				  secured solely by inventory or accounts receivable or renewing a loan for
				  working capital, or the borrower, must pay a fee of one-half percent of the
				  guaranteed amount of the loan for each renewal as provided in the loan
				  guarantee agreement. The board shall review the fee structure periodically and
				  may establish other fees it determines commercially appropriate.
(d) The financial institution or the borrower
				  must also pay all third party expenses of the authority related to the issuance
				  of the authority's guarantee of a loan.
Authority:
AS
						44.88.080
AS
						44.88.085
AS
						44.88.535
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.760 - Terms of guarantee

Current through May 31, 2024
(a) A guarantee under this article guarantees payment of outstanding principal, unpaid interest as described in (b) of this section, and liquidation expenses acceptable to the authority on a loan up to the amounts stated in the guarantee authorization in accordance with the terms and conditions set out in the loan guarantee agreement. A guarantee or portion of a guarantee that relates to an export transaction guarantees against commercial and political loss. The guarantee does not apply to penalties, late fees or interest accruing under a default interest rate. Liquidation expenses must receive written approval from the authority before expenditure, to be reimbursable pro rata.
(b) A guarantee issued under this article guarantees payment of accrued and unpaid interest for a period of time not to exceed
(1) 90 days for loans or parts of loans not made to support an export transaction;
(2) 180 days for loans or parts of loans made for a post-shipment loan guarantee to support an export transaction; or
(3) 270 days for loans or parts of loans made for a pre-shipment loan guarantee to support an export transaction.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.770 - Interest on guaranteed loans

Current through May 31, 2024
(a) The maximum
				  interest rate on a loan which is guaranteed by the authority, shall be two and
				  three-quarters percentage points above the prime rate of interest as reported
				  in the current Wall Street Journal, on a freely floating basis.
(b) The maximum fixed rate of interest shall
				  be two and three quarters percentage points above the prime rate of interest as
				  reported in the current Wall Street Journal on the day of funding.
Authority:
AS
						44.88.080
AS 44.88.085
AS
						44.88.550
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.780 - Loan guarantee agreement

Current through May 31, 2024
(a) The authority
				  will not guarantee a loan made by a financial institution unless it has
				  executed a loan guarantee agreement with the financial institution. The loan
				  guarantee agreement will set forth provisions governing guarantees of loans
				  made by the financial institution, including provisions
(1) for payment of fees to the
				  authority;
(2) setting out
				  conditions and procedures precedent to the honoring of the guarantee;
(3) requiring the financial institution to
				  service the loan according to
				  AS
				  44.88.555, to receive all payment of
				  principal and interest, and to continue to service the loan in the event of a
				  default;
(4) requiring the
				  financial institution to immediately notify the authority if the borrower fails
				  to make any payment of principal or interest on the due date if the non-payment
				  continues for 60 days or more; and
(5) setting forth terms under which the
				  guarantee may be declared null and void.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 7 - Business Assistance Program › 3 AAC 99.785 - Appeals

Current through May 31, 2024
A financial institution that submits an application for
					 guarantee of a loan that is not approved by the authority may appeal that
					 decision to the board by filing a written notice of appeal with the authority
					 no later than 10 working days after the financial institution is notified that
					 the guarantee application has been disapproved. The board will issue its
					 decision on the appeal within 45 working days. When deciding the financial
					 institution's appeal, the board will consider only the guarantee application
					 documents filed by the financial institution on or before the date of the
					 authority's decision with respect to the application. The decision of the board
					 on the appeal is final.
Authority:
AS
						44.88.080
AS
						44.88.085
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 8 - Small Business Economic Development Loan Program › 3 AAC 99.800 - Application process

Current through May 31, 2024
To apply for a small business economic development loan, an
					 applicant shall file with the department
(1) a completed application for a small
				  business economic development loan, on a form provided by the
				  department;
(2) a letter of intent
				  stating the amount of the loan and intended use of the money, on a form
				  provided by the department;
(3) an
				  individual financial statement from each individual applicant, including each
				  member of a partnership or other association, or, if the applicant is a
				  corporation, each individual owning 20 percent or more of any outstanding
				  shares, on a form provided by the department;
(4) a business financial statement, on a form
				  provided by the department;
(5) an
				  actual statement of profit and loss, on a form provided by the
				  department;
(6) a project statement
				  of profit and loss, on a form provided by the department;
(7) a personal resume, on a form provided by
				  the department;
(8) a business
				  resume, on a form provided by the department;
(9) credit authorizations for at least three
				  of the applicant's creditors, on forms provided by the department;
(10) authorizations to verify financial
				  information, on forms provided by the department;
(11) an earnest money agreement, explaining
				  all terms and conditions of the transaction, with original signatures by all
				  parties;
(12) signed copies of the
				  applicant's federal income tax returns for the preceding three years, including
				  returns for each member of a partnership or other association; and
(13) any other information requested by the
				  department to document eligibility.
Authority:
AS
						44.88.080
AS 44.88.085
AS
						44.88.420
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 8 - Small Business Economic Development Loan Program › 3 AAC 99.810 - Costs

Current through May 31, 2024
(a) All expenses incurred by the department
				  in closing a loan, including processing the application, must be paid by the
				  applicant. These expenses include the cost of credit reports, title reports and
				  insurance, recording fees, appraisals, surveys, travel, and other direct
				  costs.
(b) A nonrefundable $250
				  application fee is due from the applicant at the time that an application is
				  filed with the department. This fee will be credited toward the origination fee
				  if the loan is made.
(c) An
				  origination fee not to exceed 15 basis points applied to the loan balance is
				  due from the borrower at the time that the loan is made.
(d) A late fee not to exceed five percent of
				  the payment amount may be charged to a borrower for each loan payment that is
				  more than 15 days past due.
(e) An
				  extension fee not to exceed $50 may be charged to a borrower to process a loan
				  extension.
Authority:
AS
						44.88.420
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.825 - Scope of article

Current through May 31, 2024
3 AAC 99.825 -
					 3 AAC 99.899 applies to loans made under the rural
					 development initiative fund.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.830 - Application process

Current through May 31, 2024
(a) To apply for a rural development
				  initiative fund loan, an applicant shall file with the department
(1) a completed loan application for a rural
				  development initiative fund loan, on a form provided by the department, which
				  includes:
(A) a letter of intent stating the
				  amount requested and intended use of the proposed loan money;
(B) a schedule of acceptable
				  collateral;
(C) an individual
				  financial statement;
(D) a
				  statement of projected income and expenses for the following year's operating
				  plan;
(E) a signed credit
				  authorization; and
(F) a consent to
				  release information;
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.835 - Examination

Current through May 31, 2024
(a) The materials described in
				  3 AAC 99.830 will be processed and evaluated by a loan
				  officer. The loan officer will evaluate the applicant's eligibility, financial
				  and credit history, operating plan, ability to repay, and proposed
				  collateral.
(b) On the basis of the
				  evaluation described in (a) of this section, the loan officer will request
				  additional information required under
				  3 AAC 99.830, notify applicant that applicant is
				  ineligible for a loan, or recommend a proposed action on the loan request to
				  the appropriate loan committee. The recommendation of a loan officer is not
				  binding on a loan committee.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.840 - Loan committee

Current through May 31, 2024
(a) A loan committee consists of one or more
				  persons appointed by the director to act on a loan request.
(b) A loan committee shall consider the
				  recommendations of the loan officer assigned to process the application and any
				  other relevant information. A loan committee shall also consider the
				  applicant's eligibility for a loan, financial and credit record, ability to
				  repay, and operating plan, and the adequacy of collateral offered to secure the
				  loan.
(c) After considering a loan
				  request as described in section (b), a loan committee shall approve or deny the
				  loan request, approve the loan request subject to modification, or table the
				  loan request subject to obtaining additional information.
(d) A loan committee may impose reasonable
				  conditions on the approval of a loan, including:
(1) additional collateral to secure the
				  loan;
(2) additional guarantors;
				  and
(3) subordination of prior
				  lienholders' rights to the interest of the rural development initiative
				  fund.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.845 - Financial and credit record

Current through May 31, 2024
(a) The department
				  may consider the following factors in evaluating an applicant's financial and
				  credit record:
(1) existing and prior
				  debts;
(2) credit reports obtained
				  from creditors and private credit reporting services;
(3) prior loan history with the
				  department;
(4) timeliness in
				  making payments on loans and other debts;
(5) prior bankruptcies;
(6) existence of tax liens;
(7) unpaid judgments and prior foreclosures;
				  and
(8) financial and credit
				  reputation.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.850 - Ability to repay

Current through May 31, 2024
The department shall consider the following factors in
					 evaluating an applicant's ability to repay:
(1) income history, including present
				  income;
(2) prospects for future
				  income;
(3) assets and their
				  liquidity;
(4)
				  liabilities;
(5) reasonableness of
				  projected profit and loss statement; and
(6) other relevant experience.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.855 - Collateral

Current through May 31, 2024
(a) A loan must be secured by collateral
				  acceptable to the department, such as a mortgage or other security instrument
				  in real property, equipment, buildings or other tangible assets.
(b) The department shall not approve a loan
				  that exceeds the value of the collateral used to secure the loan.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.860 - Lending practices

Current through May 31, 2024
(a) The proceeds of the loan may be used by
				  the borrower for working capital, equipment, construction costs, or other
				  commercial purposes relating to the borrower's business.
(b) A loan may not be made to pay costs which
				  were incurred by the borrower more than six months before the loan application
				  was filed with the department, except that the department may waive this
				  restriction if:
(1) the applicant shows that
				  the application of this restriction would result in undue hardship for the
				  applicant; and
(2) the applicant is
				  a good financial risk.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.865 - Interest rate

Current through May 31, 2024
The department shall set the interest rate on a quarterly
					 basis for loans under this article. The interest rate set for a quarter remains
					 in effect until the department changes the rate. The interest rate set by the
					 department is based on the prime rate listed in the Wall Street Journal during
					 the previous quarter minus one percentage point. The interest rate will be
					 established at the nearest one-half point. The interest rate on an individual
					 loan will be set at the time the loan is approved by the loan
					 committee.
Authority:
AS
						44.88.600
AS
						44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.870 - Loan terms

Current through May 31, 2024
A loan under this article shall not exceed a term of 25
					 years except for modifications under
					 3 AAC 99.890. The term of a loan will be based on the
					 useful life of the collateral offered, the useful life of the asset being
					 purchased or to be constructed, the size of the loan, and the needs of the
					 applicant.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.875 - Disbursement of loan money

Current through May 31, 2024
Loan money will be disbursed when
(1) a security interest in the collateral is
				  perfected for the benefit of the rural development initiative fund;
(2) requirements of the loan committee have
				  been met;
(3) the applicant is in
				  compliance with all other provisions of the loan documents,
				  AS
				  44.88.600 -
				  AS
				  44.88.620, and
				  3 AAC 99.825 -
				  3 AAC 99.899; and
(4) the applicant has paid all required costs
				  and fees.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.880 - Costs and fees

Current through May 31, 2024
(a) All expenses incurred by the department
				  in processing an application must be paid by the applicant before loan money
				  may be disbursed. These expenses include the cost of title reports and title
				  insurance, recording fees, appraisals, travel, and other direct
				  costs.
(b) A nonrefundable $150
				  application fee is due to the department at the time an application for a loan
				  under this article is submitted to the department.
(c) An origination fee of one percent of the
				  total loan amount is due from the borrower before loan money may be
				  disbursed.
(d) A loan assumption
				  fee of one percent of the outstanding loan balance is due upon approval by the
				  loan committee and must be paid to the department before the loan assumption is
				  effective.
(e) A late fee not to
				  exceed five percent of the payment amount may be charged to a borrower for each
				  loan payment that is more than 15 days past due.
(f) A nonrefundable $150 modification fee may
				  be charged to a borrower to process a loan modification of an outstanding loan
				  under this article.
Authority:
AS
						44.88.600
AS
						44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.885 - Assumptions

Current through May 31, 2024
(a) A request for permission to assume the
				  obligations and benefits of a loan made under
				  AS
				  44.88.610 and this article will be processed
				  in the same manner as a loan application.
(b) A loan committee may permit an assumption
				  if the applicant is a good financial risk and the security of the rural
				  development initiative fund is preserved or improved.
(c) Wraparound financing that includes a loan
				  made under
				  AS
				  44.88.610 and this article is prohibited and
				  constitutes a default on the loan.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.890 - Modifications

Current through May 31, 2024
(a) A request for a modification to a loan
				  made under
				  AS
				  44.88.610 and this article will be processed
				  in the same manner as a loan application.
(b) A loan committee may permit a loan
				  modification only if the security of the loan under the rural development
				  initiative fund is preserved or improved.
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.895 - Reconsideration of loan request, assumption or modification

Current through May 31, 2024
(a) If a loan
				  request, assumption, or modification is denied, tabled, or significantly
				  modified by the department, an applicant may file a written request for
				  reconsideration within 30 days after receipt of notice of the department's
				  decision.
(b) The department will,
				  in its sole discretion, reconsider a request upon a showing by the applicant
				  that
(1) there has been a substantial change
				  in circumstances;
(2) additional
				  relevant information is provided to the department; or
(3) administrative errors were made by the
				  department.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 9 - Rural Development Initiative Fund › 3 AAC 99.899 - Definitions

Current through May 31, 2024
In this article,
(1) "department" means the Department of
				  Commerce, Community, and Economic Development;
(2) "director" means the director of the
				  Alaska Division of Economic Development;
(3) "wraparound financing" means a contract
				  that includes the balance due on an existing debt and an additional amount to
				  cover the difference between the selling price and the existing debt.
As of Register 171 (October 2004), the regulations
						attorney made technical revisions under
						AS
						44.62.125(b)(6) to reflect
						the name change of the Department of Community and Economic Development to the
						Department of Commerce, Community, and Economic Development made by ch. 47, SLA
						2004 and the corresponding title change of the commissioner of community and
						economic development.
Even though the amendment of
						3 AAC 99.899 was effective 4/25/2013, it was not
						published until Register 207, October
						2013.
AS 44.88.085
Authority:
AS
						44.88.600
AS 44.88.610
AS
						44.88.620
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.900 - Inspection of records

Current through May 31, 2024
If requested in writing by the authority for reasons
					 pertaining to the authority's financing of a project, an applicant for or a
					 recipient of a real property or tangible personal property loan shall make its
					 books and records available for inspection by the authority or other persons
					 designated by the authority.
Authority:
AS
						44.88.080
AS
						44.88.085
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.905 - Public access to loan records

Current through May 31, 2024
Loan records in the possession of the authority are open to
					 inspection by the public in accordance with the Public Access to Records
					 Booklet adopted under
					 2 AAC 96.100.
As of Register 176 (January 2006), and acting under
						AS
						44.62.125(b)(6), the
						regulations attorney made a technical change to
						3 AAC 99.905, to reflect Executive Order 113 (2005).
						Executive Order 113 eliminated the Telecommunications Information Council and
						transferred its functions related to public information and records to the
						governor and to the Department of
						Administration.
Authority:
AS
						44.88.420
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.906 - Curtailment of originator or financial institution eligibility

Current through May 31, 2024
(a) The authority
				  will discontinue purchasing or guaranteeing loans from an originator or a
				  financial institution if the 90-day delinquency rate on AS 44.88 loans from
				  that originator or financial institution exceeds five percent by dollar
				  value.
(b) Repealed
				  5/4/2010.
(c) In this section, "AS
				  44.88 loans" means all loan participations and loan guarantees approved and
				  pending closing, owned or issued by the authority under the tax-exempt loan
				  participation program under
				  3 AAC 99.200 -
				  3 AAC 99.290, the taxable loan participation program
				  under 3 AAC 99.300 -
				  3 AAC 99.390, or the business and export assistance
				  program under
				  3 AAC 99.700 -
				  3 AAC 99.785.
Authority:
AS
						44.88.085
AS
						44.88.165
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.907 - Recovery zone facility bonds

Current through May 31, 2024
(a) The procedures
				  applicable to the authority regarding recovery zone facility bonds are
				  contained in the booklet entitled
"Manual of the Alaska Industrial
				  Development and Export Authority Regarding Recovery Zone Facility Bonds,"
dated August 5, 2010, prepared by the authority, and adopted by
				  reference in this section.
(b)
				  Before the authority reallocates recovery zone facility bond volume cap under
				  sec. 6, ch. 68 SLA 2010, the authority will charge and collect a fee equal to
				  0.25 percent of the amount of the volume cap reallocated. If the authority
				  issues bonds using the reallocated recovery zone facility bond volume cap, the
				  authority will reduce its fee for issuing the bonds by the amount of the fee
				  charged under this subsection. The authority will refund the $500 fee it
				  collects under
				  3 AAC 99.110(b) for an application
				  received under
				  3 AAC 99.110 if (i) the application is submitted in
				  conjunction with a request for RZF bond volume cap pursuant to Section 100 of
				  the manual described in (a) of this section; (ii) the application includes an
				  Exhibit E as described in section 100 of that manual; and (iii) the authority
				  decides that it will not allocate any RZF bond volume cap for the project. The
				  executive director of the authority may reduce or waive a fee charged under
				  this subsection if the executive director determines that circumstances justify
				  the reduction or waiver.
Authority:
AS
						44.88.085
Sec. 6, ch. 68,
SLA 2010
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.910 - Supervision of proceeds of bond issues

Current through May 31, 2024
If there are bonds remaining to be redeemed under a bond
					 issue, an applicant whose financing of a project is approved or who is the
					 recipient of a real property or tangible personal property loan shall, if
					 requested by the authority
(1) permit
				  and pay the cost of an audit or examination of its books and records by an
				  independent firm of certified public accounts to determine if the provisions of
				  the bond issue have been complied with; and
(2) submit a sworn statement that describes
				  the purposes for which money derived from bond proceeds have been spent by the
				  applicant.
Authority:
AS
						44.88.080
AS
						44.88.085
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 99 - Commercial and Industrial Financing › Article 10 - General Provisions › 3 AAC 99.920 - Public notice of meetings

Current through May 31, 2024
Except as otherwise provided by statute, not more than two
					 weeks and not less than five days before a meeting of the board, the authority
					 will give public notice of the time, place, and subject of a
					 meeting.
Even though the amendment of
						3 AAC 99.920 was effective 4/25/2013, it was not
						published until Register 207, October
						2013.
Authority:
AS
						44.62.310
AS 44.88.080
AS
						44.88.085
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 1 - Roles and Responsibilities › 3 AAC 100.010 - Purpose of the chapter

Current through May 31, 2024
This chapter applies to contracts and procurements made by
					 the authority.
Authority:
AS
						36.30.015
AS
						44.88.080
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 1 - Roles and Responsibilities › 3 AAC 100.030 - Roles and responsibilities

Current through May 31, 2024
(a) The board is
				  vested with and may exercise all of the rights, powers, and duties that relate
				  to the procurement of construction, supplies, services, and professional
				  services for the authority, and the control over construction, supplies,
				  services, and professional services for the authority.
(b) The board may delegate to the executive
				  director or other qualified employees of the authority any right, power, or
				  duty described in (a) of this section; however, the board retains the right,
				  power, and duty
(1) to consider appeals of
				  protests under
				  3 AAC 100.570; and
(2) to adopt, amend, or repeal regulations
				  under AS
				  36.30.015(f) and AS 44.62
				  (Administrative Procedure Act).
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 1 - Roles and Responsibilities › 3 AAC 100.040 - Violations of regulations

Current through May 31, 2024
(a) An employee of
				  the authority who contracts for or purchases supplies, services, professional
				  services, or construction in a manner the employee knows to be contrary to the
				  requirements of this chapter is subject to disciplinary action, including
				  suspension or termination of employment, in accordance with applicable
				  personnel rules.
(b) An employee of
				  the authority who intentionally makes a false statement regarding the
				  determination to conduct a non-competitive or limited competition procurement
				  is subject to disciplinary action, including suspension or termination of
				  employment, in accordance with applicable personnel rules.
(c) If the authority suffers damages as a
				  result of the unauthorized procurement actions of an employee, the authority
				  will document the facts and file a report with the attorney general to
				  determine if civil or criminal action should be considered.
(d) If for any reason an employee of the
				  authority suspects collusion or other anticompetitive practices among bidders
				  or offerors, the employee shall transmit a notice of the relevant facts to the
				  attorney general.
(e) The authority
				  will request that the attorney general on behalf of the state enforce this
				  chapter. In addition to the actions described in this section, the attorney
				  general may consider
				  AS
				  36.30.930 in determining the applicability of
				  civil or criminal penalties.
Authority:
AS
						36.30.015
AS 44.88.050
AS
						44.88.080
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 2 - Source Selection General Requirements › 3 AAC 100.060 - Nondiscrimination in source selection

Current through May 31, 2024
Source selection and contract awards may not be based on
					 discrimination because of race, religion, color, national origin, sex, age,
					 marital status, pregnancy, parenthood, disability, or political
					 affiliation.
Authority:
AS
						36.30.015
AS
						44.88.080
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 2 - Source Selection General Requirements › 3 AAC 100.070 - Exclusion of prospective contractor from competition

Current through May 31, 2024
(a) A procurement
				  officer may issue a competitive solicitation that prohibits an individual or
				  contractor from submitting a bid or proposal if
(1) the procurement officer makes a
				  determination that the contractor or individual assisted in drafting the
				  invitation to bid or request for proposal and gained substantial information
				  regarding the invitation to bid or request for proposal that is not available
				  to other bidders or offerors;
(2)
				  the contractor or individual is listed on any state or federal list of debarred
				  contractors;
(3) the contractor or
				  individual has headquarters in a country listed in Tier 3 of the most recent
				  Trafficking in Persons Report published by the United States Secretary of State
				  under 22 U.S.C.
				  7107(b)(1)(C);
(4) the contractor or individual would only
				  act as a broker in supplying the goods or services and not add value to the
				  transaction; or
(5) award to a
				  specific contractor or individual could create a conflict of interest that
				  would compromise the objectivity or purposes of the contract.
Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 13 - Alaska Industrial Development and Export Authority › Chapter 100 - Procurement › Article 2 - Source Selection General Requirements › 3 AAC 100.080 - Lists of contractors

Current through May 31, 2024
For the purpose of providing notice for competitive bids
					 and proposals, the chief procurement officer may establish and maintain contact
					 information for contractors who have expressed an interest in doing business
					 with the authority.
Authority:
AS
						36.30.015
AS
						44.88.080